Allied Nevada Cleared to Auction Dormant Properties -- Market Talk
Apr 21, 2015 16:38:00 (ET)
16:38 EDT - Allied Nevada Gold (ANVGQ) wins bankruptcy court approval to auction 75 dormant mining properties after a skirmish with shareholders, likely the first of many clashes in the big bankruptcy case. It's unusual for shareholders to have any say once a company's in bankruptcy, but the precious metals mining company's equity stakeholders have an official committee to look out for their interests. Allied Nevada's activist shareholders said they didn't want to get in the way of a sale of the unused parcels, but they wanted to make sure the $17.5M starting bid was the best Allied Nevada could reel in. (peg.brickley@wsj.com)
(END) Dow Jones Newswires
April 21, 2015 16:38 ET (20:38 GMT)
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