Nyrstar Fined for Misleading Market Before Restructuring (1)

Nyrstar, the zinc and lead smelter which former creditor Trafigura Group took over in 2019, was fined €80,000 ($93,800) for allegedly providing “misleading information” about its liquidity base before sliding into a restructuring.

The fine relates to the remains of the company still listed in Belgium, rather than the assets of the business now owned by Trafigura.

The firm stated in late October of 2018 that it had €631 million of strong and committed liquidity when that amount had already dropped to €440 million and would soon get much worse, Belgium’s Financial Services and Markets Authority stated.

The judgment ...