Proceedings.

Colossus Minerals Inc.

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Proceeding
NOIBankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended
Court
Ontario Superior Court of Justice
File
CV14-10401-00CL
Industry
Mining
Filings held33
Last activity1 Jun 2015
On the record4,677 days
OverviewSummary updated

Colossus Minerals Inc. is proceeding under a notice of intention filed pursuant to s. 50.4 of the BIA, before the Ontario Superior Court of Justice under court file CV-14-10401-00CL. A Statement of Affairs sworn February 6, 2014 and stated as of the January 13, 2014 filing date puts total assets at $500,004.00 against total liabilities of $160,501,906.10, a reported deficiency of $160,001,902.10, with unsecured claims aggregating $160,501,905.10 and secured claims on list B carried at a nominal $1.00 for Dell Financial Services Canada Limited equipment financing. The company also guaranteed obligations of Colossus Mineracao Ltda. to Sandstorm Gold Ltd. under a September 18, 2012 purchase agreement, capped at up to $10 million and secured by a charge over its 99.9% interest in the Brazilian subsidiary. Other property is carried as unknown, its value dependent on the results of a sale process. The matter remains active.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

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Case updates30 dated entries · 3 undated
#Report

The officer filed a report. The company is in NOI/proposal proceedings under the BIA while a court-approved sale and investor solicitation process (SISP) runs; no letters of intent were received by the February 14, 2014 deadline, though the company and its financial advisor remain in dialogue with certain interested parties, and a creditors' meeting on the Proposal is scheduled for February 25, 2014.

Source: Supplement to the Trustee's Report to Creditors on Proposal dated February 20, 2014

Undated filings3 — no date appears on the document · show
—
Claims

Instructions, Proxy and Voting Letter for the Beneficial Holders — Meeting of creditors

PDF · Subscribers

—
Report

Insturctions to Participant Holders — Court officer report filed

PDF · Subscribers

—
Claims

Proof of Claim and Voting Letter for Ordinary Creditors — Claims process approved

PDF · Subscribers

Parties

Debtor

Colossus Minerals Inc.

Proposal trustee

AlixPartners

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice Wilton-SiegelOntario Superior Court of Justice4 orders, Jan 2014 – Mar 2014111 cases on record

Counsel of record

PartyCounselFirst seenSource
ApplicantColossus Minerals IncFasken Martineau DuMoulin LLP16 Jan 2014Order · 16 Jan 2014
DebtorColossus Minerals Inc.Fasken Martineau DuMoulin LLP25 Feb 2014Order · 25 Feb 2014
CreditorDuff & Phelps Canada Restructuring IncChaitons LLP11 Mar 2014Application · 11 Mar 2014
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredSandstorm Gold Ltd.Charge over Company's 99.9% ownership interest in Colossus Brazil; guarantee capped at up to $10 million — Related-party/guarantee structure: Company guaranteed obligations of Colossus Mineracao Ltda. ("Colossus Brazil") to Sandstorm under a Purchase Agreement dated 2012-09-18; security is a charge granted 'up to $10 million' (ceiling, not a stated balance); not included in list 'B' secured total of $1.00 above. — debtor: Colossus Minerals Inc. (guarantor of Colossus Mineracao Ltda. obligations) · as of 18 Sep 2012—Statement of Affairs
5PMSI / lessors
8Unsecured

2 more claims in 2 classes The stack holds Secured, PMSI / lessors and Unsecured claims.

Every creditor and every amount, drawn to scale.

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“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

Sale processAs stated in the filings

No acceptable bid — As described in the Supplemental Reports, no offers were received under the SISPProposal Trustee's Report to Court dated March 11, 2014 · 11 Mar 2014

Qualified bids

0

Proposal Trustee's Report to Court dated March 11, 2014

Bid deadline (round closed)

20 February 2014

Court Order dated February 25, 2014

AdvisorsDundee Capital Markets, a division of Dundee Securities Ltd. (financial advisor)Court Order dated January 16, 2014
RecoveriesAs stated in the filings

Unsecured creditors: a distribution.Under the plan · sanctionedCourt Order · 13 Mar 2014

ClassCreditorClaimsRecoveryBasisSource
Deemed trust——paid in fullUnder the plansanctionedper the proposal trusteeCourt Order · 13 Mar 2014
Preferred——paid in fullUnder the plansanctionedper the proposal trusteeCourt Order · 13 Mar 2014
Unsecured——a distributionUnder the plansanctionedper the proposal trusteeCourt Order · 13 Mar 2014
EquityExisting Shareholders—no distributionUnder the plansanctionedper the proposal trusteeCourt Order · 13 Mar 2014

Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.

Estate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing

As at ·

The 2 totals the debtor stated at filing

Each one as the filing states it, with its source.

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Documents
33 filings
DateDocumentFile
Letter to Creditors dated June 1, 2015PDF · Subscribers
Court Order dated March 13, 2014
  • Presiding officer Justice Wilton-Siegel
  • Recovery outcome Entries: per plan; per plan; per plan; per plan; per plan · Table missing:
PDF · Subscribers
Endorsement dated March 13, 2014PDF · Subscribers
Supplement to the Proposal Trustee's Report to Court dated March 13, 2014
PDF · Subscribers
Factum re Motion for Approval of Proposal returnable March 13, 2014
  • Counsel Chaitons LLP
  • Recovery outcome Entries: per plan; per plan · Table missing:
PDF · Subscribers
Motion Record returnable March 13, 2014
  • Counsel Chaitons LLP
  • Court SUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY)
  • Court file no CV14-10401-00CL
  • Province ONTARIO
PDF · Subscribers
Proposal Trustee's Report to Court dated March 11, 2014
  • Process results 0 qualified bids · 0 bids
  • Recovery outcome Entries: per plan · Stated on: 2014-03-11 · Table missing:
  • Sale outcome No acceptable bid — As described in the Supplemental Reports, no offers were received under the SISP
  • Financial position Subscribers
  • + 1 more extracted fact
PDF · Subscribers
Instructions to Participant Holders dated February 26, 2014PDF · Subscribers
Notice of Hearing for Approval of Proposal dated February 26, 2014PDF · Subscribers
Court Order dated February 25, 2014
  • Bid deadline 20 February 2014
  • Counsel FASKEN MARTINEAU DuMOULIN LLP
  • Order date 25 February 2014
  • Break fee Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Second Supplement to the Trustee's Report to Creditors on Proposal dated February 21, 2014
  • Operational summary The sale and investment solicitation process (SISP) closed on February 21, 2014 with no offers received, so the Company intends to attempt to complete the Proposal to creditors; the Proposal Trustee continues to recommend that Affected Creditors vote in favour.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 7 more extracted facts
PDF · Subscribers
Supplement to the Trustee's Report to Creditors on Proposal dated February 20, 2014
  • Operational summary The company is in NOI/proposal proceedings under the BIA while a court-approved sale and investor solicitation process (SISP) runs; no letters of intent were received by the February 14, 2014 deadline, though the company and its financial advisor remain in dialogue with certain interested parties, and a creditors' meeting on the Proposal is scheduled for February 25, 2014.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Amended Proposal
  • Recovery outcome Entries: per plan; per plan; per plan; per plan · Stated on: 2014-02-18 · Table missing:
PDF · Subscribers
Certificate of Filing of Proposal dated February 7, 2014PDF · Subscribers
Endorsement dated February 7, 2014
  • Presiding officer Justice H.J. Wilton-Siegel
PDF · Subscribers
Instructions to Participant Holders dated February 7, 2014PDF · Subscribers
Notice of Proposal to CreditorsPDF · Subscribers
Trustee's Report to Creditors on Proposal dated February 7, 2014
  • Recovery outcome Entries: per plan; per plan; per plan; per plan · Table missing:
PDF · Subscribers
Statement of Affairs
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Notice to Creditors dated January 20, 2014PDF · Subscribers
Court Order dated January 16, 2014
  • Bid deadline 21 February 2014
  • Counsel FASKEN MARTINEAU DuMOULIN LLP
  • Order date 16 January 2014
  • Outside date 14 March 2014
  • + 4 more extracted facts
PDF · Subscribers
Endorsement dated January 16, 2014PDF · Subscribers
Notice of Application returnable January 16, 2014
  • Counsel FASKEN MARTINEAU DuMOULIN LLP
  • Court SUPERIOR COURT OF JUSTICE
  • Court file no CV-14-10401-00CL
PDF · Subscribers
Book of Authorities of the Applicant dated January 15, 2014
  • Applicant Colossus Minerals Inc.
  • Commencement date 15 January 2014
  • Court SUPERIOR COURT OF JUSTICE
  • Court file no CV14-10401-00CL
  • + 1 more extracted fact
PDF · Subscribers
Factum of the Applicant dated January 15, 2014PDF · Subscribers
First Report of the Proposal Trustee dated January 14, 2014PDF · Subscribers
Application Record returnable January 15, 2014
  • Applicant Colossus Minerals Inc.
  • Court SUPERIOR COURT OF JUSTICE
PDF · Subscribers
Certificate for the Notice of Intention to Make a Proposal dated January 13, 2014PDF · Subscribers
Proposal
  • Recovery outcome Entries: per plan; per plan; per plan; per plan · Table missing:
PDF · Subscribers
List of Creditors affected by the Proposal as at January 10, 2014PDF · Subscribers
Instructions, Proxy and Voting Letter for the Beneficial HoldersPDF · Subscribers
Insturctions to Participant HoldersPDF · Subscribers
Proof of Claim and Voting Letter for Ordinary CreditorsPDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Colossus Minerals Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/colossus-minerals-inc

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Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/colossus-minerals-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.