Mine Reclamation exclusive periods, lease decision deadline extended

By Caroline Salls

Pittsburgh, Nov. 27 - Mine Reclamation, LLC has entered into a stipulation with Kaiser Eagle Mountain, LLC and the County Sanitation District No. 2 of Los Angeles County for an extension of Mine Reclamation's exclusivity periods, according to a Monday filing with the U.S. Bankruptcy Court for the Central District of California.

Specifically, Mine Reclamation's exclusive period for filing a plan of reorganization was extended through Feb. 18 from Dec. 19 and its exclusive plan vote solicitation period through May 17 from March 18.

The company said Kaiser and the district are among the parties with the most significant claims against Mine Reclamation and a significant interest in the outcome of the bankruptcy case.

According to the motion, the parties have been discussing their positions on Mine Reclamation's Eagle Mountain Mine property and on the potential outcomes and direction of the bankruptcy case.

The extension gives the parties more time to continue these discussions, which the company said may lead to agreements that will facilitate a consensual resolution of the case.

The stipulation also extends the company's deadline for assuming or rejecting the lease for the Eagle Mountain Mine property through Jan. 28.

Mine Reclamation is an Ontario, Calif.-based developer of the Eagle Mountain landfill project. The company filed for Chapter 11 bankruptcy on Oct. 30, 2011 under case number 11-43596.

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