Timminco granted extension in bankruptcy proceedings
May 01, 2012 | 12:39 PM
| Suzy Waite
NEW YORK Timminco Ltd. and subsidiary Bécancour Silicon Inc. have been granted an extension in bankruptcy proceedings to June 20 from April 30 by the Ontario Superior Court
The seven-week extension under the Companies Creditors Arrangement Act (CCAA) will allow the Toronto-based silicon producer and the successful bidders for its assets, Globe Specialty Metals Inc. and Spanish producer Grupo FerroAtlántica SA, to work on closing conditions, including getting court approval of....
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