Loading ...Allied Nevada Shareholders Accuse Barrick Gold Of Meddling In Bankruptcy
In a filing with the United States Court of Appeals, an Ad Hoc Committee of shareholders in Allied Nevada Gold Corp (NYSEMKT:ANV) (OTCPK:ANVGQ) (OTC:HYCT) (OTC: HYCTW) allege Allied Nevada misrepresented the value of the Hycroft mine, and identify the concealment of Hycroft director Mike Feehan’s affiliation with Barrick Gold (NYSE:ABX) (NYSEARCA:GDX) in support of accusations the bankruptcy plan was a visionary scheme, designed to mask the company’s intentions to enter into an undisclosed agreement with Barrick Gold. On appeal, the Ad Hoc Committee seeks relief from confirmation of a bankruptcy, the committee alleges was a “conspired smokescreen, connived to conceal Allied Nevada’s plan to transfer assets to insiders at Barrick Gold.”