The Survival Podcast Forum

Finance and Economics => The Money Board => Topic started by: Mr. Bill on November 19, 2018, 03:01:01 PM

Title: Republic Metals files for Chapter 11 bankruptcy
Post by: Mr. Bill on November 19, 2018, 03:01:01 PM
S&P Global, 11/9/18: Bankruptcy judge approves case-management procedures for Republic Metals (https://www.spglobal.com/platts/en/market-insights/latest-news/metals/110918-bankruptcy-judge-approves-case-management-procedures-for-republic-metals)

Quote
... Republic Metals, which has $285 million in liabilities and previously reported a $100 million "inventory discrepancy" involving missing precious metals, filed for bankruptcy just two days after the October 31 collapse of a proposed sale of the company to Switzerland-based Valcambi SA, one of the world's largest gold refiners.

In a filing with the court, Scott Avila, a principal at financial advisory firm Paladin Management Group LLC and chief restructuring officer for Republic Metals and Republic Carbon, indicated the companies are expecting a sale during the Chapter 11 process. ...

More details:

National Jeweler, 11/6/18: Refiner Republic Metals Files for Bankruptcy (https://www.nationaljeweler.com/majors/market-developments/7154-refiner-republic-metals-files-for-bankruptcy)