Nevada Copper Files for Chapter 11 Bankruptcy Protection

Nevada Copper filed for Chapter 11 bankruptcy in the Bankruptcy Court of the District of Nevada after talks with key stakeholders and other parties failed to result in funding or a deal.

• Unable to secure additional interim funding from its key stakeholders; unable to continue carrying on business
• Received a commitment for $60m debtor-in-possession financing to provide liquidity through the restructuring period
• Through the restructuring process, Nevada Copper doesn’t expect to continue operations, but does intend to take steps to preserve and protect its assets
• Names Tom Albanese as Chair of its Board of Directors; CEO Randy Buffington resigned
• Moelis ...