#Order
Order (Enhanced Monitor's Powers and Extending the Stay Period) was filed.
Source: Order (Enhanced Monitor's Powers and Extending the Stay Period)
KMC Mining Corporation
FollowActive
- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, AS AMENDED
- File
- 2503 00016
Filings held81
Last activity15 May 2026
On the record619 days
Secured debt$104M
OverviewSummary updated
KMC Mining Corporation, an Alberta mining contractor, has been under CCAA protection since January 10, 2025. Unaudited entity financial statements as at October 31, 2024 showed total assets of $295,432,000 against total liabilities of $241,843,000, with property and equipment carried at a net book value of $259.9 million, largely specialized ultra-class mining equipment. The company's Executive Chairman, Daniel Klemke, deposed that liabilities exceed $220,000,000, comprising $104,316,256 owing to a syndicate led by ATB Financial as agent with Canadian Western Bank, Export Development Canada and Laurentian Bank of Canada, $49,290,859.45 to the related-party Klemke Foundation on subordinated security, $55,623,182 to heavy and light-duty equipment lessors, and $22,218,366.57 in trade payables and accruals. The syndicate issued notices of default on November 18 and December 2, 2024, citing financial covenant breaches and a borrowing base shortfall of at least $2,344,204. Detailed asset values were filed in a sealed confidential supplementary affidavit.
Proceedings AIAsk this case — answers cite the filings
Case updates82 dated entries
#Order
Order (Sealing Order and Extension of Prior Sealing Orders) was filed.
Source: Order (Sealing Order and Extension of Prior Sealing Orders)
#Order
Revised KMC Order Extending Stay and Enhance Monitor Powers was filed.
Source: Revised KMC Order Extending Stay and Enhance Monitor Powers
#Filing
Application (Enhanced Monitor's Powers and Extended Stay Period) — Application / notice of application
#Order
Draft Order (Stay Extension, Interim Distribution, Assignment of Contracts and Ancillary Relief) was filed.
Source: Draft Order (Stay Extension, Interim Distribution, Assignment of Contracts and Ancillary Relief)
#Order
Order (Stay Extension, Interim Distribution, Assignment of Contracts) was filed.
Source: Order (Stay Extension, Interim Distribution, Assignment of Contracts)
#Filing
Application (Allocation Approval and Distribution Order) — Application / notice of application
#Sale
The court granted an approval and vesting order for the sale to 2122256 Alberta Ltd. o/a Heavy Metal Equipment & Rentals. Closing terms, as extracted: Vesting occurs upon delivery of a Monitor's Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions. Sealed: Confidential Supplementary Affidavit of Bryn Jones sworn April 7, 2025, Confidential Appendices to the Monitor's Second Report dated April 7, 2025.
#Sale
Brief of Law in support of Application for Sale Approval and Vesting Order — Approval and vesting order
#Order
Brief of Law in support of Application for Amended and Restated Initial Order — Amended and restated initial order
#Order
The court approved a sale and investment solicitation process. A phase 1 deadline of 2025-02-28. A bid deadline of 2025-03-28.
Source: Order (SISP)
#Order
The court approved a sale and investment solicitation process. A phase 1 deadline of 2025-02-28. A bid deadline of 2025-03-28.
Source: Order Approving SISP
#Report
Third Report of the Proposal Trustee and Pre-Filing Report of the Proposed Monitor — Pre-filing report
#Filing
Brief of Law in support of the Application for Initial Order — Application / notice of application
#Sale
The court granted an approval and vesting order for the sale to Gibraltar Mines Limited. Closing terms, as extracted: Transaction must close on or before 4:00 PM January 9, 2025 or the Order has no further force and effect.
#Order
Order (First Stay Extension, Administration Charge, Interim Financing Charge) was filed.
Source: Order (First Stay Extension, Administration Charge, Interim Financing Charge)
#Filing
Application (First Stay Extension, Administration Charge, Interim Financing Charge and Other Relief) — Application / notice of application
AnalysisAll insights
Precedent note
What stay extensions are actually granted
Seven CCAA files, three provinces, and no two extensions alike — four days because the court could not sit, twenty days more than the debtor asked for, a full year when all that is left of the company is a lawsuit. The boundary is the case's own calendar.
Parties
Debtor
KMC Mining Corporation
Monitor
FTI
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Harris | Court of King's Bench of Alberta | 2 orders, May 2025 | 21 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorFTI | MLT Aikins LLP | 4 Dec 2025 | Service list · 4 Dec 2025 |
| DebtorKMC Mining Corporation | Duncan & Craig LLP | 4 Dec 2025 | Service list · 4 Dec 2025 |
| Creditor66 Wellington Street West Suite 4100, P.O. Box 35 TD Bank Tower Toronto, ON M5K 1B7 Attn: Wojtek Jaskiewicz | WeirFoulds LLP | 4 Dec 2025 | Service list · 4 Dec 2025 |
| CreditorML Northern Services GP Ltd | Miller Thomson LLP | 4 Dec 2025 | Service list · 4 Dec 2025 |
| CreditorService | Duncan & Craig LLP | 20 Jan 2025 | Order · 20 Jan 2025 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Syndicate of lenders led by ATB Financial (including Canadian Western Bank, Export Development Canada, and Laurentian Bank of Canada)Primary/first secured creditor; approximate amount stated; KMC received Notice of Default from Syndicate — debtor: KMC Mining Corporation · as of 31 Oct 2024 | $104M | Application (First Stay Extension, Administration Charge, Interim Financing Charge and Other Relief) |
| Secured | Heavy equipment lessorsEquipment leases — Approximate amount; equipment lessors not affected by the Charges granted in this Order — debtor: KMC Mining Corporation · as of 31 Oct 2024 | $52.6M | Application (First Stay Extension, Administration Charge, Interim Financing Charge and Other Relief) |
| Secured | The Klemke FoundationOther senior/second priority secured creditor; private charitable foundation; approximate amount stated — debtor: KMC Mining Corporation | $49.3M | Application (First Stay Extension, Administration Charge, Interim Financing Charge and Other Relief) |
| Secured | Light duty lessorsEquipment leases — Approximate amount — debtor: KMC Mining Corporation | $2.97M | Application (First Stay Extension, Administration Charge, Interim Financing Charge and Other Relief) |
Sale processAs stated in the filings
4 transactions · 2 proposed · 2 closed — All of KMC's heavy equipment has been sold and the majority of operations wound downSeventh Report of the Monitor · 11 May 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Gibraltar Mines Limitedthe Vendor's right, title and interest in and to the assets described in the LOI and repeated herein in Schedule "A"(the "Purchased Assets") · asset sale · agreement 19 Dec 2024 | not stated | Proposed20 Dec 2024 | Sale Approval and Vesting Order (Gibraltar… |
| 2122256 Alberta Ltd. o/a Heavy Metal Equipment and Rentalssubstantially all the assets of KMC · asset sale · agreement 26 Mar 2025 | SealedPrice disclosed only in the Confidential Supplemental Report; KMC has requested a Sealing Order to keep the purchase price confidential. | Proposed | Second Report of the Monitor |
| 2122256 Alberta Ltd. o/a Heavy Metal Equipment & Rentalsthe assets described within Schedule 'A' of the Asset Purchase Agreement · asset sale · agreement 26 Mar 2025 | not stated | Closed2 May 2025 | Monitor's Certificate |
| 2122256 Alberta Ltd. o/s Heavy Metal Equipment and Rentalssubstantially all the assets of KMC · asset sale | not stated | Closeddate not statedoutside 30 Apr 2025 | Seventh Report of the Monitor |
AdvisorsErnst & Young Orenda Corporate Finance Inc. (sale agent); Ernst & Young Corporate Finance (Canada) Inc. (sale agent)SISP Teaser
Closing termsVesting occurs upon delivery of Monitor's Certificate confirming payment of Purchase Price and satisfaction of closing conditionsOrder (Sale Approval and Vesting Order)
Sealed materialsConfidential Supplementary Affidavit of Bryn Jones sworn April 7, 2025; Confidential Appendices to the Monitor's Second Report dated April 7, 2025Application (Sale Approval and Vesting Order)
RecoveriesAs stated in the filings
Unsecured creditors: 10 %. BDC short · CAT $1.62M · Cummins $1.27M.Under the planBrief of the Monitor · 23 May 2025
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 liabilities at filing$220M
As at 31 Oct 2024 · per Affidavit statement of KMC's Executive Chairman; underlying detailed asset valuations set forth in a Confidential Supplementary Affidavit sworn concurrently (sealed, not provided in these pages) · entity - KMC Mining Corporation — Para 40: 'KMC's total outstanding liabilities exceed $220,000,000' - stated as a floor. Components as of Oct 31, 2024 include Syndicate debt $104,316,256, Klemke Foundation debt $49,290,859.45, Equipment Lenders $55,623,182 (Heavy $52,649,938 + Light Duty $2,973,244), and unsecured trade payables/accrued liabilities $22,218,366.57. Total assets not stated as a consolidated figure in these pages; net book value of Property and Equipment alone was $264,096,000 as at September 30, 2024 per internal (unaudited) financial statements; a more detailed outline of estimated asset values is contained in
Documents
81 filings
| Date | Document | File |
|---|---|---|
| Affidavit of Daniel Klemke, sworn on the 4th day of May 2026 | ||
| Application (Enhanced Monitor's Powers and Extended Stay Period) | ||
| Brief of Law (in support of Application) | ||
Order (Enhanced Monitor's Powers and Extending the Stay Period)
| ||
Order (Sealing Order and Extension of Prior Sealing Orders)
| ||
Redline Sealing Order and Extension
| ||
Revised KMC Order Extending Stay and Enhance Monitor Powers
| ||
Revised KMC Sealing Order and Extension
| ||
Supplemental Report to the Monitor's Seventh Report
| ||
Seventh Report of the Monitor
| ||
| Affidavit of Daniel Klemke, sworn on the 15th day of February, 2026 | ||
| Application (Extended Stay Period) | ||
| Brief of Law (in support of Stay Extension Application) | ||
Draft Order (Stay Extension)
| ||
Order (Stay Extension)
| ||
| Sixth Report of the Monitor | ||
Service List
| ||
(Redline) Revised Draft Order (Stay Extension)
| ||
| Affidavit of Daniel Klemke, sworn on the 16th Day of November, 2025 | ||
Amended Application
| ||
Application (Stay Extension)
| ||
Draft Order (Sealing Order Extension)
| ||
| Order (Sealing Order) | ||
Revised Draft Order (Stay Extension)
| ||
| Fifth Report of the Monitor | ||
| (Redline) Draft Order | ||
| Affidavit of Daniel Klemke, sworn on the 21st day of July 2025 | ||
| Application (Stay Extension and Ancillary Relief) | ||
Draft Order (Stay Extension, Interim Distribution, Assignment of Contracts and Ancillary Relief)
| ||
Order (Stay Extension, Interim Distribution, Assignment of Contracts)
| ||
| Revised Draft Order | ||
| Fourth Report of the Monitor | ||
Application (Allocation Approval and Distribution Order)
| ||
| Brief of Law (in support of the Stay Extension Application) | ||
Brief of the Monitor
| ||
Order (Cost Allocation and Distribution)
| ||
| Second Affidavit of Daniel Klemke, sworn on the 9th day of May 2025 | ||
Supplemental Report to the Monitor's Third Report
| ||
Third Report of the Monitor
| ||
Monitor's Certificate
| ||
| Affidavit of Bryn Jones, sworn on the 7th day of April, 2025 | ||
Application (Sale Approval and Vesting Order)
| ||
| Brief of Law in support of Application for Sale Approval and Vesting Order | ||
| Draft Order (KERP Adjustment, WEPPA, Interim Distribution) | ||
| Draft Order (Sale Approval and Vesting Order) | ||
| Order (KERP, WEPPA and Interim Distribution | ||
Order (Sale Approval and Vesting Order)
| ||
Sealing Order
| ||
Second Supplemental to the Second Report of the Monitor
| ||
Second Report of the Monitor
| ||
Phase I - Bid Process Letter
| ||
Leased Equipment Sales or Return Process Order
| ||
| CCAA Notice to Creditors | ||
First Report of the Monitor
| ||
| SISP NDA | ||
SISP Teaser
| ||
Amended and Restated Initial Order
| ||
Application (Amended and Restated Initial Order)
| ||
Brief of Law in support of Application for Amended and Restated Initial Order
| ||
| Order (Leased Equipment) | ||
| Second Affidavit of Bryn Jones, sworn on the 14th day of January, 2025 | ||
Initial Order
| ||
Order (SISP)
| ||
Revised CCAA Initial Order
| ||
| Third Report of the Proposal Trustee and Pre-Filing Report of the Proposed Monitor | ||
| Affidavit of Bryn Jones, Sworn on the 31st day of December, 2024 | ||
| Brief of Law in support of the Application for Initial Order | ||
CCAA Initial Order
| ||
Order Approving SISP
| ||
| Originating Application | ||
Sale Approval and Vesting Order (Gibraltar Mines)
| ||
| Second Report of the Proposal Trustee | ||
| NOI Notice to Creditors | ||
Order (First Stay Extension, Administration Charge, Interim Financing Charge)
| ||
Affidavit of Daniel Klemke, Sworn on the 6th Day of December, 2024
| ||
Application (First Stay Extension, Administration Charge, Interim Financing Charge and Other Relief)
| ||
Draft BIA Order - NOI First Extension
| ||
| Draft Sealing Order | ||
First Report of the Proposal Trustee
| ||
| KMC Brief of Law - BIA NOI Extension | ||
| Certificate of Filing | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “KMC Mining Corporation” (CCAA), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/kmc-mining-corporation