UPDATE: Horsehead Holding (ZINCQ) Receives Court Approval for Bankruptcy Plan
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(Updated - September 2, 2016 12:03 PM EDT)
Horsehead Holding (OTC: ZINCQ) receives court approval for bankruptcy plan, according to Bloomberg.
The plan was approved by U.S. Bankruptcy Judge Christopher Sontchi.
The judge said that the company now has a revised value of $653 million and claims of $650 million, equity is on the "cusp." The value of the company has to exceed $735 million for equity to be "in the money."
The case is: Horsehead Holdings Inc., 16-10287, U.S. Bankruptcy Court, District of Delaware (Wilmington)
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