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Pacific Coal Resources Ltd. Announces Application by a Subsidiary for Creditor Protection - Yahoo Finance
( PAK.V ) announces that a wholly-owned subsidiary of the Company, Carbones Colombianos del Cerrejon S.A.S. (CCC), has filed for creditor protection under the Reorganization and Asset Law Protection (Law 1116 of 2006) in Colombia. CCC holds the mining title and rights to La Caypa mine. The application was submitted to "Superintendencia de Sociedades" for review and approval. By entering into this process, CCC expects to restructure the payment conditions of its liabilities according to its forecasted future income. The Company is looking forward to a response from the Superintendencia with respect to the application during the first half of 2016. About Pacific Coal Resources Ltd. Pacific Coal Resources Ltd. is a Canadian-based mining company engaged in the acquisition, exploration and production of coal and coal-related assets from properties located in Colombia. The Company's common shares are listed on the TSX Venture Exchange and trade under the symbol "PAK". For further information, please contact: Melissa Krishna (416) 360-8725 Forward Looking Information: This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects.
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