Having gone through this complicated restructure for which they , Korda Mentha received an award for the “ Restructuring Deal Of the Year 2014” it is unlikely that the original noteholders, (those who participated in the 2014 restructure) would accept a severe haircut now with the then & now recognised” forecast global supply shortages of nickel”
“In commenting on the TMA award, KordaMentha Restructuring Partner, Martin Madden noted, ‘The restructure of Mirabela is just another example of KordaMentha’s situational experience and unrivalled ability to implement novel and complex restructurings. Our team worked closely with advisors, stakeholders, regulators and Company management in Australia, the US and Brazil to implement a first of its kind restructure in the Australian market. Mirabela is now well placed to stabilise and improve its operations and capitalise on the forecast global supply shortages of nickel.’
MBN Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
