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Volcan Compania Minera’s 4.375% dollar bond due 2026 have been amongst the most volatile notes over the past week. The bonds dropped 15 points last week and have now recovered by 6 points to trade at 56.3. This comes after Volcan said that its board members representing Glencore (that controls 23% of Volcan) may have acted illegally in a meeting of the Volcan board by voting on proposals not on the agenda. This includes motions to remove and replace the board chairman and the CEO. Volcan said that these Glencore-linked board members tried “illegally naming” Diego Garrido-Lecca, to whom the company wrote a letter included in the filing, as the new CEO. Lecca was said to have tried firing the CEO and the legal director. In a latest update, the board of Volcan appointed Victoria Soyer Toche as the company’s new Chairman of the Board, and named Diego Garrido-Lecca Gonzalez as interim CEO. However, Luis Fernando Herrera has been appointed the new CEO.