The Dalgaranga process plant. Source: Gascoyne Resources
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The Federal Court of Australia has launched proceedings on Gascoyne Resources plan to be relisted on the Australian Securities Exchange.
This follows Habrok Mining, a Western Australia-based investment company, putting forward an unsuccessful deed of company arrangement (DOCA) proposal for Gascoyne, before purchasing unsecured debt of an existing creditor, owing approximately $616,000.
A DOCA is a when a company and its creditors reach a binding arrangement that determines how the companys affairs will be handled.
The Federal court proceedings seek an order to end the DOCA Gascoyne entered in June and orders the company to be put into liquidation.
The proceedi…
Read the full article at: https://www.australianmining.com.au/news/gascoyne-faces-liquidation-as-court-proceedings-begin/
