- Applied Minerals Inc (AMNL, Financial) has filed a motion to approve a disclosure statement with the U.S. Bankruptcy Court.
- The motion seeks approval for reorganization plans as the company remains under Chapter 11 bankruptcy protection.
- The deadline to file objections is April 24, 2025, with a hearing set for May 6, 2025, via Zoom.
Applied Minerals Inc (AMNL), currently operating under Chapter 11 bankruptcy protection since November 11, 2024, has taken a significant step forward in its reorganization process by filing a 'Motion to Approve Disclosure Statement' with the United States Bankruptcy Court for the District of Utah.
The motion submitted by AMNL outlines several key requests from the court. These include the approval of the form and adequacy of the Proposed Disclosure Statement, the proposed solicitation procedures, and the establishment of a record holder date for voting purposes. Additionally, it seeks approval for the form of ballots and balloting instructions, procedures for vote tabulation, and deadlines for proposing superior terms for reorganization.
Interested parties must file any objections to this motion by April 24, 2025, at the United States Bankruptcy Court, located at 350 South Main Street, Room 301, Salt Lake City, UT 84101. A critical hearing regarding this motion is scheduled for May 6, 2025, at 11:00 a.m. MT, and will be conducted via Zoom. For further participation details, parties are advised to consult the Bankruptcy Court's official website.
