September 08, 2016
Molycorp Inc. received a Delaware bankruptcy court's go-ahead Thursday to tap an excess insurance policy for settlement of a 4-year-old Colorado putative class lawsuit targeting the company's stock sales and allegedly inflated claims about production at its California rare earth mine.
July 26, 2016
A Delaware bankruptcy court battle over a budget-busting $5.4 million legal fee bill for creditor investigations during Molycorp Inc.'s Chapter 11 could set an important precedent for future decisions on committee spending caps, an Oaktree Capital Management LP attorney said Tuesday.
July 06, 2016
Paul Hastings LLP and the creditors committee in Molycorp Inc.'s bankruptcy took aim Tuesday at lender Oaktree Capital Management LP's resistance to the law firm's nearly $8 million fee bid in Delaware bankruptcy court, arguing the objection targets costs connected to the investigation of the private equity firm and is "vindictive sour grapes."
June 17, 2016
Oaktree Capital Management has raised a new round of objections to Paul Hastings LLP's legal fee billings for Molycorp Inc.'s now-confirmed Ch. 11, claiming the law firm has run $5 million beyond its limit for probing the private equity investor's role in the case.
May 10, 2016
Paul Hastings LLP on Tuesday added more than $1.5 million to its billings for work on Molycorp Inc.'s hotly contested Chapter 11, one day after private equity investor Oaktree Capital Management LP accused the firm of already going more than $3 million over a court-approved cap.
May 02, 2016
A Delaware bankruptcy judge sent Molycorp Inc.'s rare earth mine into its own Chapter 11 Monday, severing the idled Mountain Pass, California, site from an already-confirmed plan that restructured the rest of the company and jettisoned most of its $1.7 billion debt.
April 13, 2016
Last-minute compromises headed off a Chapter 7 liquidation order Wednesday in Delaware federal court for Molycorp Inc.'s troubled Mountain Pass, California, mine as the company, its creditors and its insurers agreed to stopgap funding and oversight that will keep the 2,200-acre site in a Chapter 11 "cold idle" for now.
April 08, 2016
Bankrupt Molycorp Inc. on Friday got the go-ahead to seek a separate Chapter 7 liquidation for the nation's only rare earth mine, after reporting that money to operate the troubled 2,200-acre Mountain Pass, California, site will run out on April 15.
April 05, 2016
Rare earth producer Molycorp Inc.'s exit from Chapter 11 could be delayed by pending government approvals needed for planned ownership changes and shareholder counts, attorneys for the company said Tuesday during a Delaware court hearing on loose ends left after broad-brush approvals for its $2.2 billion restructuring.
March 30, 2016
Bankrupt mineral producer Molycorp Inc. won confirmation in a Delaware court Wednesday for its $2.2 billion Chapter 11 plan, which calls for the company to leave behind its California rare earth mine for possible Chapter 7 liquidation while salvaging downstream processing businesses serving international markets.