Two small shareholders are suing collapsed cobalt miner Jervois Global in a Texas court in a last-ditch bid to halt a bankruptcy that will erase hundreds of millions of dollars of investor capital.
The broke cobalt miner’s rescue-lender, Boston hedge fund Millstreet Capital, wants to delist the one-time market darling from the Australian Securities Exchange, a move that will leave shareholders empty-handed.
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Mark Wembridge covers resource companies for The Australian Financial Review, based in Perth. He formerly worked for the Financial Times in London and Hong Kong. Connect with Mark on Twitter. Email Mark at mark.wembridge@nine.com.au
