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Mine Reclamation exclusive periods, lease decision deadline extended
By Caroline Salls
Pittsburgh, May 17 - Mine Reclamation, LLC 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 May 16 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 Aug. 16 from June 18 and its exclusive plan vote solicitation period through Nov. 15 from Sept. 16.
The company said that 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 July 26 from May 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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