Veris Gold granted U.S. recognition of CCAA protection

By Angela McDaniels

Tacoma, Wash., July 24 – Veris Gold Corp. has been granted provisional relief under Section 1519 of the Bankruptcy Code in the United States as of July 23, according to a company news release.

This ruling recognizes the Canadian proceeding of Companies' Creditors Arrangement Act and protects the assets of the company and the interests of the creditors until a ruling on the Petition for Recognition and Chapter 15 Relief is granted.

The company has been operating under CCAA protection and Chapter 15 bankruptcy since June 9.

Veris is a Vancouver, B.C.-based gold production company. The Chapter 15 case number in the U.S. Bankruptcy Court for the District of Nevada is 14-51015.

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