Current News

On April 8, 2016, the Bankruptcy Court entered an order confirming the Plan Debtors' Fourth Amended Joint Plan of Reorganization for Molycorp, Inc. and certain of its subsidiaries (the "Confirmation Order").   A copy of the Confirmation Order can be accessed here.

On May 2, 2016, the Bankruptcy Court approved certain modifications to the plan.  A copy of the order approving the modifications can be accessed here.  A copy of the confirmed plan, as modified, can be accessed here.  

On April 13, 2016, the court entered an Order (I) Directing the United States Trustee to Appoint a Chapter 11 Trustee for the Chapter 11 Cases of Industrial Minerals, LLC; Molycorp Advanced Water Technologies, LLC; Molycorp Minerals, LLC; PP IV Mountain Pass II, Inc.; PP IV Mountain Pass Inc.; and RCF Speedwagon Inc., (II) Amending the Debtors' Joint Administration Order and (III) Granting Related Relief.  The Molycorp Minerals Debtors' cases shall be withdrawn from, and shall no longer be administered jointly for procedural purposes with, the cases of the Plan Debtors under the docket of Molycorp, Inc., Case No. 15-11357 (CSS).  The Molycorp Minerals Debtors' cases shall be consolidated for procedural purposes only and shall be administered jointly.  The Clerk of the Court shall maintain one file and one docket for all of these jointly administered cases, which file and docket for each respective case shall be the file and docket for Molycorp Minerals, LLC, Case No. 15-11371 (CSS).  Parties in interest are directed to use the amended caption as described in the Order.  To view a copy of the Order click here.    

Molycorp To Move Its Mountain Pass Rare Earth Facility To ‘Care and Maintenance’ Mode

Greenwood Village, Col. (August 26, 2015) - Molycorp, Inc. (OTC: MCP), ("Molycorp" or the "Company") announced today that it will transition its Mountain Pass Rare Earth Facility to a "care and maintenance" mode while it plans to continue serving its rare earth oxide customers via its production facilities in Estonia and China. Customers of the Company’s rare earth magnetic materials, as well as its rare earth-based water treatment products, will not be impacted.

Molycorp, Inc. Secures Court Approval for Net $130 Million in Final DIP Financing and Additional Time to Pursue Plan of Reorganization

Greenwood Village, Col. (July 22, 2015) - Molycorp, Inc. (NYSE: MCP), ("Molycorp" or the "Company") the only global, vertically-integrated producer of rare earth products used in many electronic, transportation, industrial and clean energy applications, today moved forward with its Chapter 11 process and received Court approval for an improved debtor-in-possession (DIP) financing package provided by Oaktree Capital Management LP ("Oaktree").

The approved DIP facility of new net financing of $130 Million represents significant improvement over the interim DIP approved by the Court on July 2, 2015, including additional liquidity, reduced costs, and additional time to develop a plan of reorganization that would be in the best interest of all parties.

Molycorp, Inc. Receives Court Approval for Interim Financing; Company Has $22 Million in New Funds to Support Operations

Greenwood Village, Col. (July 2, 2015) - Molycorp, Inc. (OTC: MCPIQ), ("Molycorp" or the "Company") the only global, vertically-integrated producer of rare earth products used in many electronic, transportation, industrial and clean energy applications, reported today that it had received approval from the U.S. Bankruptcy Court on $22 million in interim debtor-in-possession (DIP) financing provided by an affiliate of Oaktree Capital Management.  The new funds will support operations going forward for an interim period while the Company continues to negotiate with Oaktree and a group representing the secured 10% noteholders, both of which represent secured creditors that have presented competing DIP lending proposals.

News Release - Chapter 11 Press Release

On June 25, 2015, Molycorp, Inc. and 20 affiliated debtors (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.  The cases are pending before the Honorable Christopher S. Sontchi and are jointly administered under Case No. 15-11357. 

Important Information & Dates

Bar Date for Filing Proofs of Claim

The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors:

  • General Bar Date (all creditors other than Governmental Units): October 13, 2015
  • Governmental Unit Bar Date: December 23, 2015

Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim against the Debtors.

Dates

July
14

Omnibus Hearing Date

10:00 AM (ET)
July
22

Omnibus Hearing Date

10:00 AM (ET)
June
25
___________
July
8
10:00 AM (ET)

Committee Formation Meeting

March
1
___________

Auction (if necessary)

March
25
5:00 PM (ET)

Voting Deadline

Parties

Debtors' Counsel

Jones Day (New York)

250 Vesey Street
New York, NY   10281-1047
http://www.jonesday.com/
Phone: 212.326.3939
Fax: 212.755.7306
Paul D. Leake, Esq.
Lisa Laukitis, Esq.

Jones Day (Cleveland)

North Point
901 Lakeside Avenue
Cleveland, OH   44114
http://www.jonesday.com/
Phone: 216.586.3939
Fax: 216.579.0212
Ryan T. Routh, Esq.

Jones Day (Chicago)

77 West Wacker
Chicago, IL   60614
http://www.jonesday.com
Phone: 312.782.3939
Fax: 312.782.8585
Joseph M. Tiller, Esq.

Young Conaway Stargatt & Taylor LLP

Rodney Square
1000 North King Street
Wilmington, DE   19801
http://www.youngconaway.com/
Phone: 302.571.6600
Fax: 302.571.1253
Edmon L. Morton, Esq.

Official Committee of Unsecured Creditors

Paul Hasting LLP (New York)

75 East 55th Street
New York, NY   10022
http://www.paulhastings.com
Phone: 212.318.6000
Fax: 212.319.4090
Luc A. Despins, Esq.
John J. Ramirez, Esq.

Paul Hastings LLP (Washington DC)

875 15th Street, N.W.
Washington, DC   20005
http://www.paulhastings.com
Phone: 202.551.1700
Fax: 202.551.1705
Robert E. Winter, Esq.

Paul Hastings LLP (Chicago)

71 S. Wacker Drive
Suite 4500
Chicago, IL   60606
http://www.paulhastings.com
Phone: 312.499.6000
Fax: 312.499.6100
Marc J. Carmel, Esq.

Ashby & Geddes, P.A.

500 Delaware Avenue, 8th Floor
PO Box 1150
Wilmington, DE   19899-1150
http://www.ashby-geddes.com
Phone: 302.654.1888
Fax: 302.654.2067
William P. Bowden, Esq.
Gregory A. Taylor, Esq.

Media Contacts

The Abernathy MacGregor Group

707 Wilshire Boulevard, Suite 3950
Los Angeles, CA   90017
Phone: 213.630.6550
Fax: 213.489.3443
Rivian Bell

United States Trustee and Court Information

Office of the United States Trustee

844 King Street, Suite 2207
Wilmington, DE   19801
http://www.justice.gov/ust/r03/wilmington/index.htm
Phone: 302.573.6491
Mark Kenney
Linda J. Casey

United States Bankruptcy Court

District of Delaware
824 Market Street North, 3rd Floor
Wilmington, DE   19801
http://www.deb.uscourts.gov
Phone: 302.252.2900

Debtors

Case Number
Debtor Name
Petition Date
15-11357 Molycorp, Inc. June 25, 2015
15-11358 Industrial Minerals, LLC - separately administered under case number 15-11371 June 25, 2015
15-11374 Neo International Corp. June 25, 2015
15-11360 Magnequench International, Inc. June 25, 2015
15-11359 Magnequench Inc. June 25, 2015
15-11361 Magnequench Limited June 25, 2015
15-11363 MCP Callco ULC June 25, 2015
15-11364 MCP Canada Holdings ULC June 25, 2015
15-11365 MCP Canada Limited Partnership June 25, 2015
15-11366 MCP Exchangeco Inc. June 25, 2015
15-11362 Molycorp Advanced Water Technologies, LLC - separately administered under case number 15-11371 June 25, 2015
15-11367 Molycorp Chemicals & Oxides, Inc. June 25, 2015
15-11368 Molycorp Luxembourg Holdings S.a r.l. June 25, 2015
15-11369 Molycorp Metals & Alloys, Inc. June 25, 2015
15-11370 Molycorp Minerals Canada ULC June 25, 2015
15-11371 Molycorp Minerals, LLC - separately administered under case number 15-11371 June 25, 2015
15-11373 Molycorp Rare Metals (Utah), Inc. June 25, 2015
15-11372 Molycorp Rare Metals Holdings, Inc. June 25, 2015
15-11376 PP IV Mountain Pass II, Inc. - separately administered under case number 15-11371 June 25, 2015
15-11375 PP IV Mountain Pass Inc. - separately administered under case number 15-11371 June 25, 2015
15-11377 RCF IV Speedwagon Inc. - separately administered under case number 15-11371 June 25, 2015