On April 8, 2016, the Bankruptcy Court entered an order confirming the Plan Debtors' Fourth Amended Joint Plan of Reorganization (the "Plan") 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.
The Plan became effective on August 31, 2016 (the "Effective Date"). A notice regarding the Effective Date and bar dates for filing certain claims 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 The Molycorp Minerals Debtors' cases shall be withdrawn from, and shall no longer be administered jointly for procedural purposes with, the cases of the Plan Debtors under the docket of Molycorp, Inc., Case No.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.
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.
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.
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.
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.
Omnibus Hearing Date
First Day Hearing
Continued Hearing on DIP Motion
Committee Formation Meeting
Omnibus Hearing on Final DIP Financing
Meeting of Creditors
General Bar Date
Governmental Bar Date
Disclosure Statement Hearing
Telephonic Status Conference
Telephonic Status Conference
Auction (if necessary)
Continuation of Confirmation Hearing
Hearing on Molycorp Minerals Chapter 7 Conversion Motion
Administrative Claims Bar Date
Jones Day (New York)
250 Vesey Street
New York, NY 10281-1047
Paul D. Leake, Esq.
Lisa Laukitis, Esq.
Jones Day (Cleveland)
901 Lakeside Avenue
Cleveland, OH 44114
Ryan T. Routh, Esq.
Jones Day (Chicago)
77 West Wacker
Chicago, IL 60614
Joseph M. Tiller, Esq.
Young Conaway Stargatt & Taylor LLP
1000 North King Street
Wilmington, DE 19801
Edmon L. Morton, Esq.
Official Committee of Unsecured Creditors
Paul Hasting LLP (New York)
75 East 55th Street
New York, NY 10022
Luc A. Despins, Esq.
John J. Ramirez, Esq.
Paul Hastings LLP (Washington DC)
875 15th Street, N.W.
Washington, DC 20005
Robert E. Winter, Esq.
Paul Hastings LLP (Chicago)
71 S. Wacker Drive
Chicago, IL 60606
Marc J. Carmel, Esq.
Ashby & Geddes, P.A.
500 Delaware Avenue, 8th Floor
PO Box 1150
Wilmington, DE 19899-1150
William P. Bowden, Esq.
Gregory A. Taylor, Esq.
The Abernathy MacGregor Group
707 Wilshire Boulevard, Suite 3950
Los Angeles, CA 90017
United States Trustee and Court Information
Office of the United States Trustee
844 King Street, Suite 2207
Wilmington, DE 19801
Linda J. Casey
United States Bankruptcy Court
District of Delaware
824 Market Street North, 3rd Floor
Wilmington, DE 19801
|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|