Court adjourns decision on appointment of administrator for Nyrstar

The court in Turnhout has postponed the appointment of a provisional administrator for Nyrstar pending the results of the investigations by the FSMA and the public prosecutor. It is important that the court has resolutely rejected all the procedural objections of the ten (!) opposing parties, including those of Trafigura.

Court of Law - Turnhout © Jan Geerling

This is a crucial step forward: the way is now finally clear for the appointment of a provisional administrator once the ongoing substantive investigations reach their final stage.

As for Nyrstar's claim that this decision is the "best evidence" that they are acting in the best interests of the company and all shareholders, I can be brief. This is at odds with the argument of their lawyer, who stated during the hearing that an administrator would completely undermine Nyrstar's litigation strategy and would therefore be an action on the merits.

I can think of no better recognition of the fact that the current board is acting solely in defence and in the interests of the directors themselves and Trafigura.

Go to original article 'De Tijd'

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