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Molycorp Said to Push Ahead With Plan as Creditor Talks Fail

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Molycorp Inc. is moving forward with a restructuring plan that some creditors said would benefit its senior lender, Oaktree Capital Management LLC, after a mediation aimed at devising a new plan failed, according to people with knowledge of the matter.

The parties couldn’t agree to terms on how to handle a sale of assets, said the people, who asked not to be named because the talks were private. As a result, the company’s existing restructuring plan remains in effect.