20:09:46 EST Wed 30 Nov 2022
Enter Symbol
or Name

Veris Gold Corp
Symbol VG
Shares Issued 154,378,365
Close 2014-06-09 C$ 0.145
Recent Sedar Documents

Veris receives extension of CCAA stay period to Oct. 10

2014-09-12 20:09 ET - News Release

Mr. Francois Marland reports


Veris Gold Corp. has obtained an order from the Supreme Court of British Columbia as of Sept. 4, 2014, extending the period of the court-ordered stay of proceeding against Veris and its subsidiaries under the Companies' Creditors Arrangement Act (CCAA) up to and including Oct. 10, 2014. The court also recognized the final cash collateral order (CCO) conditioning the use of cash collateral and providing adequate protection to Deutsche Bank AG, London branch, and approved a claim process for creditors to file claims against Veris (the Canadian claims order). In addition, during a hearing held on Aug. 29, 2014, the United States Bankruptcy Court for the District of Nevada: (i) recognized the CCAA proceeding as a foreign main proceeding; (ii) determined that Canada was Veris's centre of main interest; and (iii) recognized the monitor as Veris's foreign representative. The U.S. court also approved the CCO, which allows the company to continue to operate throughout these proceedings in accordance with the parameters established therein.

By order dated Sept. 9, 2014, the U.S. court also recognized the Canadian claims order. The company has been operating under the protection of the CCAA since June 9, 2014. All inquiries regarding Veris's CCAA proceeding should be directed to the monitor, Ernst & Young Inc.: Rocky Ho at 604-891-8425. Information about the CCAA proceeding, including copies of all court orders and the monitor's reports, is available on the monitor's website.

We seek Safe Harbor.

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