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Mineral Park court allows immediate access to lender cash collateral
By Kali Hays
New York, Aug. 27 – Mineral Park Inc. and Mercator Mineral Park Holdings obtained interim court authorization to access the cash collateral of pre-bankruptcy lenders, according to a Wednesday order with the U.S. Bankruptcy Court for the District of Delaware.
Both companies are wholly owned subsidiaries of Mercator Minerals Ltd.
As previously reported, the companies will use the cash collateral to fund operations while in bankruptcy in lieu of other post-bankruptcy financing.
Societe Generale is the administrative agent.
A final hearing is scheduled for Sept. 23.
Based in Vancouver, B.C., Mercator is a copper mining company. The lead Chapter 11 case number is 14-11996.
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