Brief: Pacific Andes Resources Development updates on progress of proceedings under chapter 11
06/12/2016 02:42
Dec 6 (Reuters) - Pacific Andes Resources Development Ltd
PACF.SI
* Updates to holders of S$200mln 8.50% bonds due 2017 on
progress of proceedings under chapter 11 currently before NY
Court
* NY Court is jointly administering co's chapter 11 filing
in conjunction with other 16 debtor entities within group
* NY Court approved an order providing steps be taken before
1 dec to satisfy claims of creditors who had initiated
restructuring proceedings in Peru
* "It is company's view that these developments are positive
for prospects for long term recovery by bondholders"
Source text for Eikon: ID:nSNZ4KXGsH
Further company coverage: PACF.SI
((Bangalore.newsroom@thomsonreuters.com;))
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