The magic pink line.., page-3

I have a feeling the creditors want MBN to be placed in a C&M.......why not just accept the 6M USD and then wait until how the nickel price reacts in 6 months time and whether they need the remaining VAT refund and lets face it, this 14M USD are peanuts to these creditors/substantial holders!

http://panoramaipiau.com.br/2016/03...0-empresa-quer-liberacao-de-recursos-do-icms/

Mirabela should dismiss employees on the 20th; company wants to release ICMS resources........

Mirabela mining, exploring nickel in the municipality of Itagibá, the Middle Rio de Contas, interior of Bahia, should resign thousand employees on June 20. According to the newspaper A Tarde, authorities and union leaders seek solutions to the region and the next step is the request to the Secretary of State of Finance, Victor Manuel. The matter was discussed by the City Council of Ipiau eight days with political leaders and union leaders. According to A Tarde, the company has begun to resign and announced that it will waive all effective because of financial difficulties caused by the fall in the nickel market and the non release of funds from VAT credits held by the government. At the hearing, a working committee was created consisting of deputies, state government, municipal governments and local chambers and unions, to find an agreement for the release of funds and maintenance of activities, with consequent retention of jobs. According to information passed by the company to the commission, the government is holding about R $ 45 million in tax credits. The company says the Sefaz recognizes only R $ 19 million and the government would guarantee the immediate transfer of $ 6 million. The Secretariat press office reported that "the State is committed, has been negotiating and seeking solutions, especially with regard to the possible release of tax credits that are already validated."