Mineral Park asks court for four month extension of exclusive periods

By Kali Hays

New York, Dec. 23 – Mineral Park, Inc. is seeking a 120-day extension of its exclusive plan filing and solicitation periods, according to a Dec. 23 motion with the U.S. Bankruptcy Court for the District of Delaware.

The company asked that its exclusive filing period be extended through April 22 from Dec. 22 and its solicitation period through June 21, 2015 from Feb. 21.

Mineral Park said that it cannot propose a plan until it has achieved a sale of substantially all company assets, and it is still in the process of marketing to potential buyers, according to the motion.

A hearing to consider the extension is scheduled for Jan. 20.

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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