Mineral Park wins OK on four-month extension of exclusive plan periods

By Kali Hays

New York, Jan. 23 – Mineral Park, Inc. obtained a 120-day extension of its exclusive plan filing and solicitation periods, according to a Friday order from the U.S. Bankruptcy Court for the District of Delaware.

The company’s exclusive filing period is extended through April 22 from Dec. 22 and its solicitation period through June 21, 2015 from Feb. 21.

As previously reported, Mineral Park said that it cannot propose a plan until it has achieved a sale of substantially all company assets, and it is still marketing to potential buyers, according to the motion.

An objection to the length of the extension by the company’s official committee of unsecured creditors was overruled.

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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