Brief: Bens Creek Group Says Bens Creek Commences Chapter 11 Cases

Bens Creek

15/04/2024 16:19

April 15 (Reuters) - Bens Creek Group PLC  BENB.L :
    * BENS CREEK GROUP PLC  - BENS CREEK COMMENCES CHAPTER 11
CASES
    * BENS CREEK GROUP PLC - COURT HEARING IS EXPECTED TO BE
HELD THIS
WEEK TO CONSIDER COMMENCEMENT OF CHAPTER 11
    * BENS CREEK GROUP PLC - COMPANY IS IN ADVANCED DISCUSSION
ON
TERMS OF DIP, WHICH WILL BE A RELATED PARTY TRANSACTION PURSUANT
TO RULE 13
    * BENS CREEK GROUP PLC: AT CURRENT TIME, BENS CREEK GROUP
PLC HAS
SUFFICIENT CASH TO MEET ITS IMMEDIATE DAY-TO-DAY WORKING CAPITAL
OBLIGATIONS
    * BENS CREEK GROUP: UNITS BEN'S CREEK OPERATIONS WV LLC,
BEN'S
CREEK CARBON LLC AND BEN'S CREEK LAND WV LLC HAVE ALL COMMENCED
CHAPTER 11 CASES IN US
    * BENS CREEK GROUP PLC: BENS CREEK EXPECTS TO OPERATE ITS
BUSINESS
AS USUAL THROUGHOUT THIS PROCESS
    * BENS CREEK: IN ABSENCE OF ANY ADDITIONAL FUNDS RECEIVED
THAT IT
IS DUE FROM BC CARBON, GROUP HAS EXPECTED CASH RUNWAY THROUGH TO
MID-MAY
    * BENS CREEK GROUP PLC - CHAPTER 11 COMPANIES EXPECT TO FILE
A
PROPOSED PLAN OF REORGANISATION WITH COURT IN DUE COURSE

Source text for Eikon:  ID:nRSO6808Ka 
Further company coverage:  BENB.L 

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