Source - SMW
Talvivaara Mining Company has announced that the District Court of Espoo has given its ruling and confirmed Talvivaara's Corporate Restructuring Programme.

The Court also accepted entry into force of the Programme despite the possible appeal process.

As a result of the ruling, the corporate reorganization proceedings of Talvivaara have been completed.

Background:

The Administrator of the Company's corporate reorganisation proceedings filed a request for confirmation of the Restructuring Programme of Talvivaara to the District Court of Espoo on 6 March 2017, when all the special conditions set for the confirmation and entry into force of the Restructuring Programme were fulfilled.

Talvivaara said it is now focusing on developing, commercialising and financing its new business opportunities and managing the EUR9.6m liabilities set in the confirmed Restructuring Programme.

After the confirmation of the Restructuring Programme, acquiring additional finance for the new businesses and for paying the restructuring debts can proceed in accordance with its plan.

According to the Restructuring Programme confirmed by the District Court, Talvivaara has two years to pay the secured and unsecured restructuring debts to the creditors.