November 16, 2015
A Delaware bankruptcy judge gave mining company Molycorp Inc. the go-ahead Monday to implement a revised roughly $2.5 million bonus package for its brass after three of the debtor's major creditor constituencies said they were onboard with changes to the compensation plan.
November 04, 2015
U.S. mine operator and manufacturer Molycorp Inc. on Tuesday submitted its strategy for restructuring $1.9 billion in debt, laying out a two-track process that will see either a sale of the business or a reformulation of the company with lender Oaktree Capital Management LP as its primary shareholder.
October 27, 2015
Attorneys for Molycorp Inc. on Monday in Delaware bankruptcy court revealed the rare earth mining company's revamped incentive plan for its most senior executives, reducing proposed bonuses that could have totaled up to about $2.9 million to about $2.5 million, to placate the current plan's critics.
October 13, 2015
Unsecured creditors of Molycorp Inc. told a Delaware bankruptcy judge Monday that they need information on $260 million in loans Oaktree Capital Management LP gave the rare-earth company, saying they are investigating the transactions and may challenge them.
October 01, 2015
One of the directors of bankrupt rare earth miner Molycorp Inc. told a Delaware bankruptcy judge Thursday that the company's senior executives would be fairly compensated compared with industry standards under an up to $3 million incentive pay plan that is under fire from several corners in the case.
September 29, 2015
Bankrupt rare earth miner Molycorp Inc. on Tuesday in Delaware bankruptcy court pushed back against harsh criticism of its up to $3 million executive bonus plan, contending that those objecting to the proposed incentive pay seem "intent on punishing" the company's management team for the past.
September 25, 2015
Both the federal bankruptcy watchdog and the union representing employees at Molycorp Inc.'s soon-to-be temporarily shuttered California mine took issue Friday with the rare-earth producer's $3 million executive bonus plan, with the latter arguing the compensation appears to be a "giveaway" to company insiders.
September 15, 2015
A Delaware bankruptcy judge on Tuesday cleared mine operator Molycorp Inc. to reject leases associated with its key California mine where it had scaled back production after seeking court protection in June.
September 14, 2015
Mine operator Molycorp Inc. received approval from a Delaware bankruptcy judge Friday to pay bonuses to 19 senior managers, engineers and other top employees working out of the debtor's key Mountain Pass mine in California.
August 31, 2015
The unsecured creditors committee in Molycorp Inc.'s bankruptcy took issue Monday with the company's executive bonus plan, which could pay out up to $3 million, saying it has "numerous issues and reservations" about the compensation now that the debtor plans to suspend operations at its main mining facility.