Investment firm Templar Capital, an independent creditor in the Optimum coal mine, has, in conjunction with the Optimum business rescue practitioners (BRPs) and other significant creditors, proposed a business rescue plan that is expected to be presented shortly to all of Optimum’s creditors. Optimum was placed into business rescue in February 2018 and various attempts have been made over the past two and a half years by the BRPs to source sufficient post start financing to bring the mine back into full production and/or to sell the mine or its assets to provide creditors with the best possible return.
