Mineral Park committee to hire Gavin/Solmonese as financial adviser

By Kali Hays

New York, Oct. 8 – Mineral Park, Inc.’s official committee of unsecured creditors is seeking authorization to hire Gavin/Solmonese LLC as its financial adviser, according to an Oct. 8 motion with the U.S. Bankruptcy Court for the District of Delaware.

If approved, the hiring will be made retroactive to Sept. 17.

In its role as financial adviser, Gavin/Solmonese will review and analyze the financial condition of Mineral Park, cash flow projections and liquidity needs while assisting the committee in the marketing of company assets and providing assistance to the committee’s legal counsel, according to the motion.

Gavin/Solmonese employees responsible for the case will be paid an hourly rate between $375 and $625.

A hearing to approve the hiring is set for Nov. 19.

Mineral Park is a subsidiary of Vancouver, B.C.-based copper mining company Mercator Minerals Ltd. The company filed for bankruptcy on Aug. 25 under Chapter 11 case number 14-11996.

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