Final section begins for the final liquidation of Doe Run Peru

The definitive liquidation of Doe Run Peru enters its final phase. After almost 15 years of uncertainty, the Board of Creditors will decide this week the continuity of the company that will lead the remainder of the process. As reported to this media Elvis Yupanquirepresentative of the workers of the Coppery mining uniteverything indicates that consultants A-1 will be ratified.

And this firm has been in charge of the liquidation from January 2022 to December 2024. However, it lost its record in the last month of last year and has recovered it again. Then, during the session scheduled for this Friday, February 7, the election of A-1 consultants.

“The workers have taken the agreement to ratify consultants A-1 because we are in the final stage of the bankruptcy process. The liquidator has been able to sell the mine and awarded the complex. The only asset that remains is to recover the trust to continue paying the Workers, “Yupanqui explained.

According to the General Law of the contest systemlthe liquidator of Doe Run Peru must prioritize the payment of labor debt. For this reason, 3,500 workers and their families remain in the expectation of the resolution of the trust of around US $ 19.41 million, which would be the last task of this process.

Final section of the liquidation of Doe Run

The last milestone in the A-1 consultants administration has been to unlock the efforts for the release of the trust, which is in a bank account in Scotiabank. For Yupanqui, it would be irrational to put another liquidator and make the solution more complex that all workers expect.

“During these fourteen years, there have been many entrampages. The Ministry of Energy Mines, which is the main creditor of this Board, does not solve the problem with dedication. Now, the only thing that would be missing is to ratify the liquidator, approve the settlement and settlement agreement In a month and a half the process would be resolved. ”He emphasized.

For his part, Luis Mantari, representative of the labor creditors, noted that both the Ministry of Energy and Mines and Consultores A-1 have already notarially communicated Scotiabank that the trust contract will be resolved, which will facilitate the release of the funds for funds for the payment of debts.

History of Doe Run: Liquidation underway

Doe run Peru Srl was part of Doe Run Company Until 2006, since the beginning of 2007 it became a subsidiary of the Renco Group, also of American origin. In 2009, the mining company declared itself in a state of insolvency due to financial difficulties, which prevented it from carrying out the last project of the Environmental Adaptation Program (PAMA).

In 2010 Indecopi began the bankruptcy process only of the Oroya metallurgical complex. Since then, various liquidating companies took prominence for being responsible for managing the debts, liabilities and assets of Doe Run Peru. One of the agreements at the Board of Creditors was that said complex and then copper, are sold while working and without violating the jobs of the workers.

With the passage of time, these decisions have been violated by various liquidation companies in charge of this bankruptcy process. In the case of A-1 consultants, its management demonstrated successful results.

• Through an extrajudicial public auction held on July 26, 2022, he awarded the Cobriza Mining Unit (UMC) to the Dyer Coriat group (DC Group), for an amount of US $ 19.70 million plus IGV.
• On July 6, 2022, the payment of payment of the Oroya metallurgical complex (CMLO)which benefited 1,245 workers, who received this structure as part of payment for an accumulated labor debt.
• In June 2023, the regularization of 1,045 homes that were delivered to Doe Run workers as part of payment began. Currently, 50% of these homes already have property titles.