Evraz Highveld Creditors to Vote on Business Rescue Plan on October 13

Mining Weekly reported that Evraz Highveld Steel and Vanadium (OTCMKTS:HGVLY) creditors will vote on a business rescue plan on October 13 and will include a recommendation that International Resources Ltd of Hong Kong be allowed to buy the company.
As quoted in the press release:

The vote was initially set for September 28, but was postponed for two weeks to offer creditors more time to understand the various components of the plan, which was first published on September 16.
Under the plan, R350-million would be made available to settle creditor debts and a further R150-million to settle an emergency loan provided by Industrial Development Corporation. Should it be approved, creditors would receive between 15c and 29c in every rand owed. However, the settlement could be negatively affected should the South African Revenue Service raise an assessment against the company.
The business rescue practitioners, Piers Marsden and Daniel Terblanche, met with creditors on October 8, where they again stood by their assessment that the plan offered the best prospect for restoring the solvency and liquidity of the company.

Click here to read the full Mining Weekly report.