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BRIEF-Banks want Talvivaara to be placed in bankruptcy
March 23, 2017 / 1:49 PM / 8 months ago

BRIEF-Banks want Talvivaara to be placed in bankruptcy

March 23 (Reuters) - Talvivaara

* Says has been notified that Finnvera Plc, Nordea Bank AB (Publ.), Finnish branch, Danske Bank Plc, OP Corporate Bank Plc and Svenska Handelsbanken AB, Finnish branch have given a response to the District Court where they have objected the confirmation of Talvivaara’s restructuring programme, requesting the cessation of the corporate reorganization proceedings and placing the company in bankruptcy

* says bondholders’ representative on turn supports the confirmation of the restructuring programme

* says the company’s view is that it has fulfilled the special conditions set for the entry into force of the restructuring programme, as they were approved by the creditors in the creditors’ voting procedure

* says anticipates district court of Espoo to announce its decision in the matter in next few weeks

* Talvivaara, which used to own a nickel mine in northern Finland, was pushed into debt restructuring in 2014 following production problems, environmental damage and a drop in nickel prices Further company coverage: (Helsinki Newsroom)

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