www.unuudur.com » Mongolian Mining Chapter 15 Bankruptcy Restructuring

Mongolian Mining Chapter 15 Bankruptcy Restructuring

[Нийтэлсэн: 11:02 25.03.2017 ]


Ulaanbaatar, Mongolia-based Mongolian Mining filed for Chapter 15 protection with the U.S. Bankruptcy Court in the Southern District of New York, case number 17-10695. The Company, which engages in mining, processing, transportation and sale of coal products in Mongolia, is represented by Timothy E. Graulich of Davis Polk & Wardwell.

The Company is currently operating in Provisional Liquidation by order of the Grand Court of the Cayman Islands and restructuring by way of both Cayman Islands and Hong Kong schemes of arrangement, which are materially identical. If the effective date of the restructuring has not occurred on or before May 8, 2017, the terms of the restructuring support agreements will lapse automatically.

According to documents filed with the Court, “In order to mitigate decreasing profit margins, the Group made efforts to penetrate the inland China market through new sales terms from 2014 onwards which in FY15 started to produce positive profit margins. Nevertheless, the downturn in the international coking coal market has meant that revenue and sales volume for the Group decreased significantly in recent years.”

Mongolian Mining’s recently reported assets of $1.6 billion.


Metallurgical coal prices starting to slip: Fitch
[Нийтэлсэн: 02.10.2018 ]
[Эх сурвалж: ]
Copper price plunges to 1-year low
[Нийтэлсэн: 14.07.2018 ]
[Эх сурвалж: ]
Global Religion and the United Front: The Case of Mongolia
[Нийтэлсэн: 11.07.2018 ]
[Эх сурвалж: ]
Thermal coal prices hit 6-year high
[Нийтэлсэн: 09.07.2018 ]
[Эх сурвалж: ]
Former Rio Tinto exec jailed for corruption in China let free
[Нийтэлсэн: 09.07.2018 ]
[Эх сурвалж: ]
Copper price rallies to highest since January 2014
[Нийтэлсэн: 08.06.2018 ]
[Эх сурвалж: ]

Get Flash to see this player.