Norton, Lehman court case on hold

WA gold miner Norton Gold Fields' legal dispute with Lehman Brother over its gold hedge book has been delayed after administrators of the collapsed investment bank requested an adjournment.

Both parties were due to appear in the US Bankruptcy court tomorrow. Lehman Brothers has not yet set a date for the rescheduled hearing.

Last month the administrators of the US entity filed a motion to reinstate the operation of the hedge with Norton to restart payments and pay all previously held monies.

Norton has previously stated that under the terms of the hedge, it is not required to make any payments while Lehman Brothers is in default.

The hedge deal would require Norton to forward sell about 70,000 ounces of gold a year until June 2012 at $A875 an ounce