Mineral Park gets final approval to access lender cash collateral

By Kali Hays

New York, Oct. 9 – Mineral Park Inc. and Mercator Mineral Park Holdings received final approval to use the cash collateral of pre-bankruptcy lenders under a Thursday order form the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, both companies are subsidiaries of Mercator Minerals Ltd.

Mineral Park and Mercator obtained interim access to the cash collateral Aug. 27.

The companies will continue to use the cash collateral to fund operations while in bankruptcy in lieu of other post-bankruptcy financing.

Societe Generale is the administrative agent.

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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