Judge continues bankruptcy case

Friday, April 28, 2000 | 10:50 a.m.

A federal bankruptcy court judge has ordered the continuation of a Chapter 11 case for Henderson-based Alta Gold Co.

John Bielun, the company's chief financial officer and the most senior remaining employee of the company, said the company's bid to convert the filing to a Chapter 7 liquidation case failed because no one wanted to be named a trustee.

Judge Gregg Zive ordered the continuation of the Chapter 11 reorganization filing, begun a year ago. Bielun said creditors, including the Bureau of Land Management, the Nevada Department of Environmental Protection and the U.S. Forest Service, requested the continuation to avert environmental problems.

Bielun said the Chapter 11 case would be continued indefinitely and that company assets would continue to be liquidated during the proceeding.

Alta operated three gold mines in Nevada and had copper holdings in New Mexico. At the peak of operations in 1998, the 11-year-old company had 215 employees.

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