Metalcorp Group was sued by the administrators of Greensill Capital (UK), as the metals and minerals group attempts to restructure its debts. Greensill, which spectacularly collapsed into insolvency more than two years ago, filed a suit against the Luxembourg-based firm at the UK High Court this week. There is no further publicly available information on the case.
Metalcorp Group was sued by the administrators of Greensill Capital , as the metals and minerals group attempts to restructure its debts.
Metalcorp, a subsidiary of natural-resources company Monaco Resources Group SAM, was a customer of Greensill before it collapsed, with some of the debt sold onto funds that were run by Credit Suisse, according to fund documents published in 2020. Metalcorp has been in talks to restructure its debt since October, when it failed to repay €70-million of maturing bonds. In June the company said that some noteholders had agreed to amendments to the debt including an extended maturity date and swapping outstanding notes for new instruments.
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