29/10/2015 - 12:16

KordaMentha appointed to Mirabela

29/10/2015 - 12:16

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Troubled miner Mirabela Nickel has been placed in receivership after the directors put it into administration last month.

Troubled miner Mirabela Nickel has been placed in receivership after the directors put it into administration last month.

In a brief statement today, Mirabela said Martin Madden, Scott Langdon and Richard Tucker of KordaMentha had been appointed as receivers and managers pursuant to a security interest registered on the Personal Property Securities register.

No further details were provided.

In late September, the company appointed representatives of Ferrier Hodgson as administrators; a move flagged a month earlier when Mirabela suspended trading in its shares, citing the impact of a ‘precipitous and severe decline’ in nickel prices.

The Brazil-focused miner was previously placed into administration in February last year, with partners from KordaMentha appointed.

Mirabela directors regained control four months later, after implementing a deed of company arrangement which included a capital raising and a debt-for-equity swap that left pre-existing shareholders with a small stake in the company.

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