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Coalspur Mines (Operations) Ltd. - Status Updates
December 7, 2021 |
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On December 7, 2021, the Court granted the following orders:
- Creditors' Virtual Meeting Order: authorizing Coalspur to call the Virtual Creditors' Meeting to be held at 1:00 p.m. MST on January 6, 2022 for the purpose of having the Affected Creditors vote on the CCAA Plan;
- Authority to Admit Late Filed Proofs of Claim, Authority to Grant Additional Security, and Stay Extension: authorizing Coalspur to accept for filing any additional proofs of claim which may be submitted after the Claims Bar Date; authorizing Coalspur to grant Finning a security interest in accordance with the terms of the MPCSA with respect to personal property as defined in the Order; and an extension to the Stay of Proceedings to and including January 31, 2022; and
- Interim Restricted Court Access Order: sealing the Confidential Exhibit "B" to the Seventh Affidavit of Michael Beyer, sworn November 29, 2021, until the application to be heard on January 13, 2022.
Pursuant to the Creditors' Virtual Meeting Order, the Virtual Creditors' Meeting was scheduled for 1:00 p.m. MST to be hosted via zoom (links provided in the Order).
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August 31, 2021 |
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On August 31, 2021, the Court extended the Stay of Proceedings to December 15, 2021.
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August 9, 2021 |
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On August 9, 2021, the Court granted an order (the "Claims Process Order") which approved the implementation of a claims process (the "Claims Process") to be completed by the Monitor with the assistance of the Applicant. The Claims Process includes a claims bar date of September 23, 2021 at 5:00 PM MT (the "Claims Bar Date") and a subsequent claims bar date which is the latter of: (a) the Claims Bar Date and (b) 5:00PM MT of the day which is 15 days after the date on which the agreement in question was disclaimed or resiliated (the "Subsequent Claims Bar Date").
As directed in the Claims Process Order, all Proofs of Claim shall be directed by registered mail, courier, email (in PDF), personal delivery of facsimile to both the Applicant and the Monitor. The contact information for the Applicant and Monitor are as follows:
To the Monitor:
FTI Consulting Canada Inc. In its capacity as the court appointed Monitor of Coalspur Mines (Operations) Ltd.
Attention: Hailey Liu
Suite 1610, 520 5th Avenue S.W. Calgary, AB T2P 3R7
Email:[email protected]
Phone: 403.454.6040
Facsimile: 403.232.6116
To the Applicant:
Osler, Hoskin & Harcourt LLP
Attention: Elena Pratt
Brookfield Place, Suite 2700 225 6 Ave SW Calgary, AB T2P 1N2
Email:[email protected]
Phone: 403.260.7000
Facsimile: 403.260.7024
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July 9, 2021 |
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On July 9, 2021, the Court extended the Stay of Proceedings to September 3, 2021.
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May 6, 2021 |
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On May 6, 2021, the Court granted an amended and restated Initial Order which provides for:
- an extension of the Stay of Proceedings until and including July 23, 2021;
- an increase in the availability under the Interim Financing Charge to the amount sought in the Originating Application of $26 million USD; and
- an increase of the Administration Charge to $500,000.
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April 26, 2021 |
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On April 26, 2021 Coalspur Mines (Operations) Ltd. (the "Applicant" or "Coalspur") sought and obtained an initial order (the "Initial Order") from the Court of the Queen's Bench of Alberta (the "Court") under the Companies' Creditors Arrangement Act R.S.C. 1985, c. C-36, as amended ("CCAA"). Pursuant to the Initial Order FTI Consulting Canada Inc. was appointed monitor (the "Monitor") of the Applicant. Under the Initial Order the Applicant was granted a Stay Period until and including May 6, 2021. Accordingly, a comeback hearing ("Comeback Hearing") is to be scheduled with the Court not later than May 6, 2021 where it would hear arguments with respect to the relief granted in the Initial Order.
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