Talvivaara banks look to cancel bankruptcy matter; objection stands

By Caroline Salls

Pittsburgh, March 29 – Talvivaara Mining Co. plc said Finnvera plc, Nordea Bank AB, Finnish branch, Danske Bank plc, OP Corporate Bank plc and Svenska Handelsbanken AB, Finnish branch, requested the cancellation of the bankruptcy matter initiated at the District Court of Espoo on March 22.

According to a news release, the cancellation request has no effect on the banks’ requests to cease Talvivaara’s reorganization proceedings or on their objection to the confirmation of the company’s restructuring program.

The proceedings regarding a confirmation request filed by Talvivaara’s administrator on March 6 are continuing at the District Court of Espoo.

The company said it expects the court to announce its decision in the matter in the next few weeks.

Helsinki-based Talvivaara Mining is a base metals producer with its primary focus on nickel and zinc.

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