Great Basin Gold Ltd. (fka GBGLF)

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Standard Chartered Bank together with Credit Suisse AG, who were principal lenders to Great Basin Gold, a listed Canadian mining company which owned two mines, one in Nevada and one in Johannesburg.

Great Basin Gold and both mine-owning subsidiaries were placed, simultaneously, into cross-border bankruptcy proceedings: voluntary company creditors arrangement in Canada, chapter 11 bankruptcy in Nevada, and business rescuein South Africa. Prior to the restructuring, the South African creditors’ claims exceeded ZAR 11 billion.

The final restructuring involved the sale of the shares in the South African subsidiary to another listed mining group, the compromise of certain debt, the refinancing of other debt and the introduction of new finance facilities.

http://www.bowmanslaw.com/wp-content/uploads/2016/08/Restructuring.pdf