Finland's Talvivaara accepted for court-supervised restructuring

HELSINKI Fri Nov 29, 2013 3:30am EST

HELSINKI Nov 29 (Reuters) - Finnish nickel miner Talvivaara's application for a court-supervised reorganisation to help it to avoid bankruptcy has been accepted, the company said on Friday.

Talvivaara, hurt by falling nickel prices and chronic production problems, halted operations this month and sought the court-supervised restructuring process after failing to raise more funds.

It said last week that it has enough cash to last through the first quarter of 2014 but admitted that bankruptcy is a possibility. (Reporting By Jussi Rosendahl; Editing by David Goodman)

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