The Kami Mine Limited Partnership, Kami General Partner Limited and Alderon Iron Ore Corp.
- Proceeding
- Receivership (court-appointed)BIA s. 243 / prov. Judicature Acts
- File
- 2020 01G 2883
- Industry
- Mining · Iron ore & coal
The Kami Mine Limited Partnership, Kami General Partner Limited and Alderon Iron Ore Corp. are in court-appointed receivership before the Supreme Court of Newfoundland and Labrador in Bankruptcy and Insolvency, court file 2020 01G 2883, with Deloitte Restructuring Inc. acting as receiver on the application of Sprott Private Resource Lending (Collector), LP under s. 243 of the BIA and provincial Judicature Act authority. The receivership commenced July 19, 2021. Sprott, the primary secured lender, held security over all of the debtors' present and after-acquired personal property, with indebtedness of $19.4 million as at June 17, 2020. That indebtedness was extinguished as part of the consideration for a sale transaction, together with $15 million in cash and a production payment undertaking. The proceeding remains active.
A claims procedure has been established — see the order for deadlines.
Per the Letter to creditors re Claims Process Order, dated August 17, 2021 dated 17 August 2021.
The court granted an approval and vesting order. Closing terms, as extracted: Vesting effective upon filing of Receiver's Certificate confirming completion of transactions under the Assignment Agreement. Sealed: Confidential Appendices attached to the Fifth Report.
The officer filed report no. Fifth Report. The Debtors ceased operating in April 2020; the Receiver's recent activities focused on completing shareholder distributions, resolving a dispute over Related Surface Rights not covered by the original 2020 asset sale, and negotiating a settlement agreement with the Purchaser to sell those rights.
Source: Fifth Report of the Court Appointed Receiver, dated June 20, 2024
The officer filed report no. Fourth Report. The debtors ceased operating in April 2020 and the Kami Property was sold. The Receiver has paid proven creditors in full, settled the Metso dispute, and is seeking approval of disallowances of CRA claims and of interim distributions to shareholders. Future purchaser payments depend on mine production, with none expected until late 2024.
Source: Fourth Report of the Court Appointed Receiver, dated February 23, 2023
Application filed in the Supreme Court of Newfoundland and Labrador, commencing the court-appointed receivership of the three Kami and Alderon entities under court file no. 2020 01G 2883.
Undated filings2 — no date appears on the document · show
Debtor
The Kami Mine Limited Partnership, Kami General Partner Limited and Alderon Iron Ore Corp.
Receiver
Deloitte
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice MacDonald | Supreme Court of Newfoundland and Labrador | 1 order, May 2022 | 14 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorHebei Iron & Steel Group Co | McMillan LLP | 25 May 2022 | Application · 13 May 2022 |
| CreditorWorley Canada Services Ltd | Curtis Dawe | 25 May 2022 | Application · 13 May 2022 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Sprott Private Resource Lending (Collector), LPas of Date of Receivership (June 17, 2020) — Security over all of the Debtors' present and after acquired personal property — Primary secured lender; indebtedness extinguished as part of sale transaction consideration ($19.4 million extinguishment plus $15 million cash plus production payment undertaking). — debtor: The Kami Mine Limited Partnership, Kami General Partner Limited, Alderon Iron Ore Corp. | $19.4M | Second Report of the Court Appointed Receiver, dated July 16, 2021 |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Sale approved — Sale, assignment and transfer of the Related Surface Rights approved and vesting orderedSale and Assignment Approval and Vesting Order · 1 Aug 2024
Unsecured creditors: paid in full. Canada Revenue Agency no distribution · Metso Outotec Canada Inc. no distribution · Alderon a distribution.FinalInterlocutory Application - filed March 3, 2023 · 3 Mar 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trustCRA claims | Canada Revenue Agency | — | no distribution | Finalper the receiver | Interlocutory Application - filed March 3, 2023 · 3 Mar 2023 |
| Secured | Metso Outotec Canada Inc. | — | no distributionconditional | Finalper the receiver | Interlocutory Application - filed March 3, 2023 · 3 Mar 2023 |
| Unsecured | — | — | paid in fullfinal | Finalper the receiver | Interlocutory Application - filed March 3, 2023 · 3 Mar 2023 |
| Unsecured | Alderon | — | per the receiver | Interlocutory Application · 13 May 2022 | |
| Equity | shareholders holding less than 50 shares (below $10 threshold) | — | no distributionconditional | Finalper the receiver | Interlocutory Application - filed March 3, 2023 · 3 Mar 2023 |
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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans4 engagements · 2 firms — latest: McInnes Cooper, 8 Jun 2020 – 30 Jun 2021, in feesInterlocutory Application, filed July 19, 2021 · 19 Jul 2021
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Deloitte Restructuring Inc.Receiver | to 30 Jun 2021 | — | not stated | Second Report of the Court Appointed Receiver · 16 Jul 2021 | |
| McInnes CooperCounsel to the receiverperiod 2 of 3 | 8 Jun 2020 – 30 Jun 2021 | — | not stated | Interlocutory Application, filed July 19, 2021 · 19 Jul 2021 | |
| McInnes CooperCounsel to the receiverperiod 2 of 3 | to 30 Jun 2021 | — | not stated | Second Report of the Court Appointed Receiver · 16 Jul 2021 | |
| McInnes CooperCounsel to the receiverperiod 1 of 3 | — | — | not stated | Fourth Report of the Court Appointed Receiver · 23 Feb 2023 |
4 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plansCumulative receipts
$23.1M
As at 31 May 2024Fifth Report of the Court Appointed Receiver, dated June 20, 2024
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Sale and Assignment Approval and Vesting Order
| PDF · Subscribers | |
| Sealing Order | PDF · Subscribers | |
| Letter to creditors, July 19, 2024 | PDF · Subscribers | |
| Interlocutory Application | PDF · Subscribers | |
| Memorandum of Fact and Law of the Receiver, July 9, 2024 | PDF · Subscribers | |
| Affidavit of Cassie Poon, sworn on June 27, 2024 | PDF · Subscribers | |
Fifth Report of the Court Appointed Receiver, dated June 20, 2024
| PDF · Subscribers | |
| Letter to creditors, March 8, 2023 | PDF · Subscribers | |
Interlocutory Application - filed March 3, 2023
| PDF · Subscribers | |
| Memorandum of Fact and Law, filed March 3, 2023 | PDF · Subscribers | |
| Affidavit of Ryan Adlington, sworn February 23, 2023 | PDF · Subscribers | |
Fourth Report of the Court Appointed Receiver, dated February 23, 2023
| PDF · Subscribers | |
Distribution Order, dated May 25, 2022
| PDF · Subscribers | |
| Letter to creditors, dated May 20, 2022 | PDF · Subscribers | |
| Memorandum of Fact and Law of the Receiver, filed May 20, 2022 | PDF · Subscribers | |
| Letter to creditors dated May 17, 2022 | PDF · Subscribers | |
Interlocutory Application, returnable May 25, 2022
| PDF · Subscribers | |
| Affidavit of Robert Taylor, sworn May 10, 2022 | PDF · Subscribers | |
| Third Report of the Court Appointed Receiver, dated April 26, 2022 | PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
| Liquidation Notice | PDF · Subscribers | |
| Letter to creditors re Claims Process Order, dated August 17, 2021 | PDF · Subscribers | |
| Claims Process Order, dated August 13, 2021 | PDF · Subscribers | |
| Creditor Dispute Notice | PDF · Subscribers | |
| Shareholder Dispute Notice | PDF · Subscribers | |
| Shareholder Proof of Claim | PDF · Subscribers | |
| Memorandum of Fact and Law, filed July 30, 2021 | PDF · Subscribers | |
Interlocutory Application, filed July 19, 2021
| PDF · Subscribers | |
Second Report of the Court Appointed Receiver, dated July 16, 2021
| PDF · Subscribers | |
| Creditor Proof of Claim | PDF · Subscribers | |
| Draft Distribution Order | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “The Kami Mine Limited Partnership, Kami General Partner Limited and Alderon Iron Ore Corp.” (Receivership (court-appointed)), Supreme Court of Newfoundland and Labrador. Retrieved 4 November 2026, https://proceedings.ca/case/kami-mine-et-al