6 de diciembre de 2016 / 6:06 / hace un año

BRIEF-Pacific Andes Resources Development updates on progress of proceedings under chapter 11

Dec 6 (Reuters) - Pacific Andes Resources Development Ltd

* Updates to holders of S$200mln 8.50% bonds due 2017 on progress of proceedings under chapter 11 currently before NY Court

* NY Court is jointly administering co’s chapter 11 filing in conjunction with other 16 debtor entities within group

* NY Court approved an order providing steps be taken before 1 dec to satisfy claims of creditors who had initiated restructuring proceedings in Peru

* “It is company’s view that these developments are positive for prospects for long term recovery by bondholders” Source text for Eikon: Further company coverage:

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