Bens Creek Group Plc (GB:BEN) has released an update.
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Bens Creek Group plc, a metallurgical coal mining company, has received court approval for a $2 million interim financing loan from its largest shareholder, Avani Resources, amid Chapter 11 bankruptcy proceedings. The loan will cover operational costs, professional fees, and employee wages, with a future court hearing set to consider a larger financing proposal. This financial restructuring aims to support the company through an asset sale that could transform it into a cash shell as per market regulations.
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