Posts Tagged ‘Nova Austral’
Chile’s Nova Austral saved from liquidation
Chilean salmon farmer Nova Austral has been saved from the immediate threat of liquidation. The long-running saga came to an end last night after the bondholders voted in support of a reorganisation agreement drawn up late last year. An announcement on the Oslo Stock Exchange said: “Following the Issuer’s presentation of the Reorganisation Agreement, Nordic…
Read MoreStill no sign of end to Chilean salmon farmer agony
Shareholders in the troubled Chilean salmon farmer Nova Austral are still waiting to hear what is going to happen to the company. After several postponements since the summer, a decision on its future was expected this week, but that has been delayed for at least a further week – with still no guarantee the issue…
Read MoreStill no agreement on Nova Austral debt crisis
The long-running saga over the troubled Chilean salmon farmer Nova Austral will now drag on into the New Year. It had been hoped a rescue package could be reached by the end of last week, but the creditors again rejected various proposals in a revised reorganisation agreement filed with a court in Chile. This is…
Read MoreNova Austral unions in plea to Chilean government
Trade unions representing workers at the troubled Chilean salmon company Nova Austral have sent a message to the government pleading not to let the business go under. Nova Austral, which farms in southern Chile, is said to owe more than US $500m (£409m). The company employs 800 people directly and supports some 2,000 indirect jobs.…
Read MoreNova Austral rescue plan delayed again
The hoped-for financial rescue package for Nova Austral, one of Chile’s principal salmon farmers, has been delayed yet again. Creditors met yesterday to discuss a reorganisation agreement that sets out a number of alternatives. They failed to reach an agreement, however, and in a brief Oslo Stock Exchange statement the company said the meeting was…
Read MoreChile’s Nova Austral moots rescue package
Struggling Chilean salmon farmer Nova Austral is proposing a major financial shake-up to help get it out of its troubles. The company, which filed for bankruptcy protection during the summer, is reported to owe almost US $560m (£461m). Much of that debt is held by just two creditors. Nova Austral said, in a report to…
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