Mineral Park committee gets court approval to hire financial adviser

By Kali Hays

New York, Nov. 3 – Mineral Park, Inc.’s official committee of unsecured creditors received authorization to hire Gavin/Solmonese LLC as its financial adviser, according to a Friday order from the U.S. Bankruptcy Court for the District of Delaware.

The hiring is retroactive to Sept. 17.

As previously reported, Gavin/Solmonese will review and analyze the financial condition of Mineral Park, along with its 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.

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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