Creditors of bankrupt rare earths miner Molycorp reach deal

February 23, 2016

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Creditors of Molycorp Inc have reached a deal to divide up the value of the largest U.S. producer of rare earth materials, which should help clear the way for the company to exit bankruptcy.

According to court documents, the deal allows for the sale of the company or a reorganisation and ends litigation between the company’s unsecured creditors and Molycorp’s lender, Oaktree Capital Management.

Category: General