Enerkem Inc. et al.

Enerkem Inc. and related debtors have been under CCAA protection since May 12, 2025 in Quebec, with the proceedings active. An unaudited balance sheet drawn from Enerkem Inc.'s books and records shows total assets of $26,261,000 against total liabilities of $432,173,000 as at March 31, 2025, an equity deficit of $(405,912,000). Secured debt as at that date includes $222,000,000 owing on senior secured convertible notes held by Repsol, ESC Sustainable Solutions Fund, L.P. and funds managed by Monarch Alternate Capital LP, secured by a first charge over Enerkem Canada's assets, and $71,500,000 on superpriority notes that matured November 30, 2024 and remain unpaid, with Enerkem stating it cannot repay them and noteholders not having demanded repayment. A 2014 loan facility maturing in August 2025 leaves $16,275,000 owing to Fiera Private Debt Fund IV LP and $613,000 to the Federation of Canadian Municipalities, secured by first liens on the Enerkem Alberta Biofuels entities.