Mineral Park secures court approval to hire David J. Beckman as CRO

By Caroline Salls

Pittsburgh, Sept. 24 – Mineral Park, Inc. received court approval to hire David J. Beckman of FTI Consulting as its chief restructuring officer, according to a Sept. 23 filing with the U.S. Bankruptcy Court for the District of Delaware.

FTI’s Paul Hansen will serve as Mineral Park’s assistant CRO. The firm will also provide additional personnel and financial advisory and restructuring-related services.

Beckman and Hansen were hired by Mineral Park on Sept. 1, 2013. The CRO’s role was expanded on Aug. 1 to allow him to oversee the company’s sale process and day-to-day business operations.

FTI will receive a $200,000 monthly fee and a $100,000 one-time advisory fee.

Mineral Park is a subsidiary of Vancouver, B.C.-based copper mining company Mercator Minerals Ltd. The company filed for bankruptcy on Aug. 25 under Chapter 11 case number 14-11996.

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