Mineral Park wins court authorization to employ joint legal counsel

By Kali Hays

New York, Oct. 14 - Mineral Park, Inc.’s official committee of unsecured creditors received approval to hire Stinson Leonard Street LLP and Hiller & Arban, LLC as its joint legal counsel, according to separate Oct. 14 orders from the U.S. Bankruptcy Court for the District of Delaware.

The hiring of Stinson Leonard will be retroactive to Sept. 9 and Hiller will be retroactive to Sept. 10.

As previously reported, the committee chose both firms based on respective experience in complex bankruptcy matters and “large-scale” asset sales.

Stinson Leonard and Hiller will both assist the committee in its analysis of Mineral Park’s assets and financial situation, conduct negotiations on behalf of the committee, prepare all necessary legal documents and appear in court as needed, according to the motions.

Attorneys of Stinson Leonard will be paid an hourly rate between $220 and $800 while Hiller attorneys will be paid an hourly rate between $150 and $375.

Both firms will also seek expense reimbursement from the court.

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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