Solid Energy creditors vote in favour of 2 1/2-year wind-down plan

Thu, 17 Sep 2015

By Suze Metherell Sept. 17 (BusinessDesk) - Creditors of New Zealand's failed state-owned coal miner Solid Energy have voted in favour of an orderly sell down over the next 2 1/2 years, rejecting a last minute foreign bidder's request to delay the watershed meeting ahead of a possible buyout. Korda Mentha administrator Brendon Gibson said a move by Australian company Mach Capital to adjourn today's creditor meeting while it completed due diligence and make an alternative offer was rejected when creditors "overwhelmingly supported" the de...

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