New World Resources Plc (NWRR.L)
29 Apr 2016
* Says coal mining operations subsidiary OKD board to discuss insolvency on May 3
* Finance minister rejects "ultimatum" (Adds finance minister rejecting pressure)
PRAGUE, April 25 Coal miner New World Resources said on Monday it was in default on part of its debt and would have to consider filing for insolvency at its main operating business unless the government and creditors agree on the firm's restructuring by Friday.
PRAGUE, April 13 Private equity investor Arca Capital, a minority shareholder in Czech coal miner New World Resources (NWR), said on Wednesday it had offered to buy NWR's main operating unit OKD.
PRAGUE, April 11 The bosses of two coal trading firms have offered to help to restructure coal miner New World Resources' (NWR) Czech operating business OKD, Industry Minister Jan Mladek said on Monday.
PRAGUE, April 10 Creditors of troubled Czech hard coal miner New World Resources pushed on Sunday for a quick agreement with the government on state aid for its main operating subsidiary OKD to avoid its bankruptcy, saying a deal was needed next week.
* State has been reluctant to help firm's owners (Adds finance minister, background, impact study)
BRIEF-Czech finance minister Babis: it would be ideal if current NWR shareholders and creditors leave
* Czech Finance Minister Andrej Babis says it would be ideal if current shareholders and creditors leave mining group NWR/OKD
PRAGUE, April 7 Czech Industry and Trade Minister Jan Mladek offered last week that current owners sell 100 percent stake in the operating unit OKD of troubled miner New World Resources as well as most of the group's debt but majority owners and creditors rejected to name a price for the assets, Mladek said on Twitter.
PRAGUE, March 3 The departure of coal miner New World Resources' majority owners has not changed the Czech government's stance of denying aid to the struggling firm and only helping workers who lose jobs, Prime Minister Bohuslav Sobotka said on Thursday.