Bondholders and unsecured creditors “in revolt” over Molycorp’s bankruptcy exit plans

By James Sean Dickson
Published: Tuesday, 10 November 2015

Molycorp’s unsecured lenders are reportedly unhappy with the company’s plans for leaving bankruptcy, which would involve either a full segmented asset sale or the wiping of much of its debt, both scenarios which the non-senior creditors claim will unduly favour Oaktree Capital.

US-based rare earths producer Molycorp Inc.’s bondholders and unsecured creditors are in "open revolt", caused by recently issued plans to exit Chapter 11 bankruptcy protection, according to a report in the Wall Street Journal.

Court filings submitted by lawyers representing the creditor groups "claimed Molycorp has capitulated to demands" from...

This is a preview of the full article

Our market news and price data is reserved for registered users only.

Current customer? Login now

All of our industrial minerals price data and news is now available only through our new platform. Learn more about the intelligence we offer by visiting our Fastmarkets flagship website. If you are familiar with our reliable and trusted intelligence, fill out a request a quote form today to hear from our friendly sales staff who will create a custom license for you.


           



Interested in lithium prices? We now offer lithium prices and coverage free for reference. Click here to read all about it.

Interested in the wider electrification market?
Join our growing community of participants who want to learn more about electrification and how this market is developing.