Bens Creek Postpones Chapter 11 Court Hearing After Receiving New Finance Offer
[Click image to enlarge]
In a filing on April 30, Bens Creek said it has adjourned a preliminary court hearing for its chapter 11 process.
The court hearing was delayed to May 8 due to a result of the court receiving a second debtor-in-possession finance offer.
The adjournment will allow the court time to be consider both debtor-in-possession financing proposals. The proposals being considered are the term sheet for a $14.5 million debtor-in-possession financing facility from Avani Resources and a second proposal.
On April 25, Bens Creek shareholder MBU Capital called for a meeting to assess chapter 11 options.
Bens Creek Group is an AIM listed holding company set up to own and operate metallurgical coal mines in North America. The company owns the Ben’s Creek mining project in West Virginia.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2024 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
