Midway Gold exclusive plan solicitation period extended to Jan. 15

By Caroline Salls

Pittsburgh, Nov. 8 – Midway Gold US Inc. received an extension of its exclusive period for soliciting votes on a Chapter 11 plan, retroactive to Oct. 15, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Colorado.

Specifically, the court extended Midway’s exclusive vote solicitation period to Jan. 15 from Oct. 15.

Since the hearing on the disclosure statement related to its current plan, Midway, Ledcor CMI Inc. and other parties have settled Ledcor’s claims and treatment under the plan.

In addition, the company said the court gave the parties involved in a mechanic’s lien adversary proceeding until Oct. 21 to provide supplemental briefings on the issue.

Midway said the court’s ruling in the adversary proceeding “will necessarily influence the amended plan and the debtors’ next steps in its solicitation process.”

The company said it intends to further revise the amended plan and disclosure statement to reflect the outcome of the adversary proceeding as well as to describe the recent settlement related to Ledcor’s mechanic’s liens.

Based in Vancouver, B.C., Midway Gold is a development-stage company that acquires, explores and develops gold and silver mineral properties in North America. The company filed for bankruptcy on June 22, 2015 under Chapter 11 case number 15-16835.

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