Bank of Tokyo resists Solid Energy debt restructuring

Mon, 14 Oct 2013

By Pattrick Smellie Oct. 15 (BusinessDesk) – Japanese financial giant Bank of Tokyo is opposing the debt restructuring deal announced on Oct. 1 to help get state-owned coal miner Solid Energy back on its feet, but may be forced to take the deal anyway, papers lodged with the Companies Office show. The Auckland branch of Bank of Tokyo-Mitsubishi UFJ is recorded as the second-largest lender to Solid Energy, which faces insolvency if the debt “compromise” stitched together between the company, the Treasury and Solid Energy’s lenders doesn’t go a...

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