Proceedings.

Myra Falls Mine Ltd.

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Closed
Proceeding
CCAACompanies' Creditors Arrangement Act, R.S.C. 1985 c. C-36 as amended
Court
Supreme Court of British Columbia
File
S238572
Filings held68
Last activity9 Sep 2026
On the record1,008 days
OverviewSummary updated

Myra Falls Mine Ltd. is under Companies' Creditors Arrangement Act protection in the Supreme Court of British Columbia, commenced on August 13, 2025 under court file S238572. The application that opened the case was filed that same day. The proceeding is active. Nothing further has been entered on this record — no orders, no reports, no scheduled steps — so the matter stands as it did at commencement.

Claims processIf you are owed money

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

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Case updates68 dated entries
#Report

The officer filed report no. Ninth Report of the Monitor. The CCAA proceedings concluded after MFM's operations transitioned to care and maintenance during the process; the Transactions closed on September 30, 2025, with Residual Co. assigned into bankruptcy and FTI appointed as Trustee, and the Monitor now seeks its discharge and termination of the proceedings.

Source: Ninth Report of the Monitor

65 earlier updates, back to 18 December 2023 — subscribers.

AnalysisAll insights⁠

Outcome brief

Myra Falls: the mine stayed, and the claims went to Calgary

Two sale processes produced no bidder but the owner's own group. Trafigura took the Vancouver Island mine by reverse vesting order for the amount of its DIP loan plus the cost of the charges and priority payments; the pre-filing claims went to a shell incorporated in Alberta and assigned into bankruptcy the day the deal closed. On September 9, 2026, with $2,214,968 in monitor and counsel fees approved, FTI was released.

Parties

Debtor

Myra Falls Mine Ltd.

Monitor

FTI

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice FitzpatrickSupreme Court of British Columbia11 orders, Feb 2024 – Aug 202549 cases on record

Counsel of record

PartyCounselFirst seenSource
CreditorBC Ministry of Attorney General 2nd floorDentons Canada LLP20 Jan 2026Service list · 20 Jan 2026
CreditorChinook Scaffold Systems LtdLindsay Kenney LLP20 Jan 2026Service list · 20 Jan 2026
CreditorMineit Consulting IncJenkins Marzban Logan LLP20 Jan 2026Service list · 20 Jan 2026
CreditorNormet Canada LtdMiller Thomson LLP20 Jan 2026Service list · 20 Jan 2026
CreditorOrica Canada IncBorden Ladner Gervais LLP20 Jan 2026Service list · 20 Jan 2026
CreditorQuadra Chemicals LtdMcMillan LLP20 Jan 2026Service list · 20 Jan 2026
CreditorWaste Management of Canada CorporationDla Piper LLP20 Jan 2026Service list · 20 Jan 2026
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
PMSI / lessorsPPSA equipment financiers (PMSI class): Versatile Leasing Incorporated; Toyota Credit Canada Inc.; Travelers Leasing Ltd.; Sandvik Canada Inc. / Sandvik Financial Services Canada; Valiant Financial Se · in 183 casesas of PPSA search results dated November 24, 2023 — Registered PPSA financing statements relating to the leasing or financing of equipment and motor vehicles (serialized equipment) — Company states it does not have a traditional bank or senior secured lender and no party maintains a blanket security interest over all Company property; these are the only registered PPSA secured creditors listed. Amounts not stated in this document. — debtor: Myra Falls Mine Ltd.—Affidavit #1 of Hein Frey, sworn Dec. 17, 2023

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

1 more claim across lower-ranking classes

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Sale processAs stated in the filings

9 transactions · 4 closed · 3 approved · 2 proposed — the Transactions closed and Residual Co. was assigned into bankruptcyNinth Report of the Monitor · 27 Aug 2026

Letters of intent

1

Eighth Report of the Monitor

Bid deadline (round closed)

15 July 2025

Notice of Second SISP

Phase 1 deadline

27 May 2025

Second SISP Procedures

Stalking horse

Trafigura Holding S.a r.l.

Ninth Report of the Monitor

PurchaserPriceStatusSource
Breakwater Resources Ltd.Related partythe assets described in the Breakwater Agreement (the "Purchased Lease") · asset sale · agreement 28 Feb 2024SubscribersApproved7 Mar 2024Approval and Vesting Order
Nyrstar Tennessee Mines – Strawberry Plains LLCRelated partythe leases described in the NTM Agreement (the "Purchased Lease") · asset sale · agreement 19 Apr 2018SubscribersCloseddate not statedFifth Report of the Monitor
Amalgamated Mining & Tunnelling Inc.the sale, transfer and assignment to AMTI of all of the right, title and interest of MFM in and to certain assets and the sale, transfer and assignment to MFM of all the right, title and interest of AMTI in and to a 2016 Sandvik Loader · asset salenot statedCloseddate not statedFifth Report of the Monitor
Maynards Industries II Canada Ltd.the Assets · auctionSubscribersProposedSixth Report of the Monitor
end purchasers at auction, unnamed; auction/liquidation conducted by Maynardsthe Assets · auctionnot statedApproved29 Jan 2025Order Made After Application (Approval of…
Stalking Horse Purchaser named only via reference to the sealed Stalking Horse Agreement; not identified by name in the operative textStalking horsethe Property and/or the Business, or investment in MFM (whether by way of share subscription or otherwise) · share subscription · agreement 31 Mar 2025not statedProposedOrder (Stalking Horse and Second SISP Approval)
AMTIcertain assets and a 2016 Sandvik Loader · asset salenot statedApprovedoutside 31 Oct 2025Eighth Report of the Monitor
Trafigura Holding S.à r.l.the Purchased Shares · share subscription · nominee/assignee: an assignee of Trafigura Holding S.à r.l. · ResidualCo: Residual Co. · agreement 26 Jun 2025not statedClosed30 Sep 2025Ninth Report of the Monitor
Trafigura Holding S.a r.l.Stalking horsecertain assets and liabilities in a corporation (‘Residual Co.’) to be formed by MFM or its affiliates prior to closing · share subscription · agreement 31 Mar 2025SubscribersClosedNinth Report of the Monitor
AdvisorsFTI Capital Advisors - Canada ULC (financial advisor); Rouse Services Canada Ltd. (auctioneer); Maynards Industries II Canada Ltd. (auctioneer); Maynards Industries Il Canada Ltd. (auctioneer)Order Made After Application (Approval of Auction Agreement, DIP…
Closing termsClosing occurs upon delivery of the Monitor's Certificate, deemed to occur at the Closing Time in accordance with the Implementation StepsOrder (Reverse Vesting Order)
RecoveriesAs stated in the filings

Unsecured creditors: no recovery.EstimatedSeventh Report of the Monitor · 1 Apr 2025

ClassCreditorClaimsRecoveryBasisSource
Unsecured——no recoveryEstimatedper the monitorSeventh Report of the Monitor · 1 Apr 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.

Fees and ratesAs stated in the filings

2 engagements · 2 firms — latest: (firm not named), to 30 Jun 2026Ninth Report of the Monitor · 27 Aug 2026

FirmPeriodHoursFeesRatesSource
(firm not named)Counsel to the monitorfirm not named in the headingto 30 Jun 2026—•••not statedNinth Report of the Monitor · 27 Aug 2026
FTI Consulting Canada Inc.Monitorto 30 Jun 2026—•••not statedNinth Report of the Monitor · 27 Aug 2026

8 stated figures across 2 engagements, each sourced

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Estate financialsReported figures — never derived

The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers

Professional fees to date

$2.21M

As at 27 Aug 2026Ninth Report of the Monitor

Documents
68 filings
DateDocumentFile
Fee Approval and Discharge OrderPDF · Subscribers
Affidavit #1 of Peter RubinPDF · Subscribers
Affidavit #1 of Thomas PowellPDF · Subscribers
Ninth Report of the Monitor
  • Closing confirmed Closed · 30 Sep 2025 · Trafigura Holding S.a r.l.
  • Cash on hand · Disbursements · Fee schedule Subscribers
  • + 10 more extracted facts
PDF · Subscribers
Service List
  • Counsel Lindsay Kenney LLP
PDF · Subscribers
Trustee's Preliminary Report
  • Closing confirmed Closed · 30 Sep 2025 · Trafigura Holding
  • Purchaser Trafigura Holding · the Purchased Shares issued by MFM · share sale · closed
  • Sale outcome Sale closed — The Transaction closed and the Excluded Liabilities were transferred to Residual Co.
  • Stalking horse Subscribers
PDF · Subscribers
Certificate of AppointmentPDF · Subscribers
Form 31 - Proof of ClaimPDF · Subscribers
Form 36 - ProxyPDF · Subscribers
Notice of BankruptcyPDF · Subscribers
Monitor's Certificate
  • Closing confirmed Closed · 30 Sep 2025 · 1558613 B.C. Ltd.
PDF · Subscribers
Order (Bankruptcy of Residual Co.)PDF · Subscribers
Order Made After Application (Continuous Premium Instalment Contract)
  • Presiding officer Justice Fitzpatrick
PDF · Subscribers
Affidavit #11 of Hein FreyPDF · Subscribers
Notice of Application
  • Commencement date 13 August 2025
  • Court SUPREME COURT OF BRITISH COLUMBIA
  • Court file no S238572
PDF · Subscribers
Order (Reverse Vesting Order)
  • Closing terms Closing occurs upon delivery of the Monitor's Certificate, deemed to occur at the Closing Time in accordance with the Implementation Steps
  • Order date 10 July 2025
  • Purchaser Trafigura Holding S.à r.l. · nominee/assignee an assignee of Trafigura Holding S.à r.l. · the Purchased Shares · share subscription · approved
  • Residualco Residual Co.
  • + 2 more extracted facts
PDF · Subscribers
Order (Stay Extension and DIP Increase)
  • Order date 10 July 2025
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 31 October 2025
PDF · Subscribers
Affidavit #1 of Virginie GauthierPDF · Subscribers
Eighth Report of the Monitor
  • Process results 1 LOIs · as of 27 May 2025
  • Purchaser Trafigura Holding S.a r.l. · certain assets and liabilities · share subscription · approved; AMTI · certain assets and a 2016 Sandvik Loader · asset sale · approved; Nyrstar Tennessee Mines - Strawberry Plains LLC (related party) · MFM's right, title and interest in an equipment lease between MFM, as lessee, and Sandvik Canada Inc., as lessor · asset sale · approved
  • Sale outcome Sale approved — As the Second SISP did not result in any acceptable going-concern transactions for the Petitioner's assets, the Subscription Agreement was selected as the successful bid and the Second SISP was terminated.
PDF · Subscribers
Affidavit #10 of Hein FreyPDF · Subscribers
Notice of Second SISP
  • Bid deadline 15 July 2025
  • Phase1 deadline 27 May 2025
  • Sale advisor FTI Capital Advisors - Canada ULC (financial advisor)
  • Break fee Subscribers
  • + 2 more extracted facts
PDF · Subscribers
Second SISP Procedures
  • Bid deadline 27 May 2025
  • Outside date 31 October 2025
  • Phase1 deadline 27 May 2025
  • Break fee Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Order (Stalking Horse and Second SISP Approval)
  • Bid deadline 27 May 2025
  • Order date 3 April 2025
  • Outside date 31 October 2025
  • Break fee Subscribers
  • + 5 more extracted facts
PDF · Subscribers
Affidavit #1 of Mario SantosPDF · Subscribers
Seventh Report of the Monitor
  • Purchaser Trafigura Holding S.a r.l. (stalking horse) · certain assets and liabilities in a corporation (‘Residual Co.’) to be formed by MFM or its affiliates prior to closing · share subscription · proposed
  • Recovery outcome Entries: per estimated · Table missing:
  • Sale advisor FTI Capital Advisors - Canada ULC (financial advisor); Maynards Industries II Canada Ltd. (auctioneer)
  • Sale outcome Sale process approved — Second SISP proposed with Stalking Horse Bid as baseline; previous SISP did not result in a completed transaction
  • + 1 more extracted fact
PDF · Subscribers
Affidavit of Hein Frey #9PDF · Subscribers
Order Made After Application (Approval of Auction Agreement, DIP Increase and Stay Extension)
  • Closing terms Vesting occurs upon payment of the purchase price for the Assets; Net Sale Proceeds held in trust by Maynards pending payment to Petitioner.
  • Order date 29 January 2025
  • Presiding officer Justice Fitzpatrick
  • Purchaser end purchasers at auction, unnamed; auction/liquidation conducted by Maynards · the Assets · auction · approved
  • + 4 more extracted facts
PDF · Subscribers
Order Made After Application (Mediator Appointment)
  • Presiding officer Justice Fitzpatrick
PDF · Subscribers
Sixth Report of the Monitor
  • Closing confirmed Closed · date not stated · Amalgamated Mining & Tunnelling Inc.; Closed · date not stated · Nyrstar Tennessee Mines - Strawberry Plains LLC
  • Process results 3 bids · as of 29 Nov 2024
  • Purchaser Maynards Industries II Canada Ltd. · the Assets · auction · proposed; Amalgamated Mining & Tunnelling Inc. · certain assets and a 2016 Sandvik Loader · asset sale · closed; Nyrstar Tennessee Mines - Strawberry Plains LLC (related party) · MFM's right, title and interest in an equipment lease between MFM, as lessee, and Sandvik Canada Inc., as lessor, dated April 19, 2018 · asset sale · closed
  • Sale advisor FTI Capital Advisors - Canada ULC (financial advisor); Maynards Industries II Canada Ltd. (auctioneer)
  • + 2 more extracted facts
PDF · Subscribers
Affidavit #6 of Michele HayPDF · Subscribers
Affidavit #8 of Hein FreyPDF · Subscribers
Stay Extension and Disclosure of Personal Information Order
  • Order date 30 October 2024
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 31 January 2025
PDF · Subscribers
Affidavit #5 of Michele Hay sworn October 24, 2024PDF · Subscribers
Affidavit #7 of Hein Frey affirmed October 23, 2024PDF · Subscribers
Fifth Report of the Monitor
  • Closing confirmed Closed · date not stated · Amalgamated Mining & Tunnelling Inc.; Closed · date not stated · Nyrstar Tennessee Mines - Strawberry Plains LLC
  • Purchaser Amalgamated Mining & Tunnelling Inc. · the sale, transfer and assignment to AMTI of all of the right, title and interest of MFM in and to certain assets and the sale, transfer and assignment to MFM of all the right, title and interest of AMTI in and to a 2016 Sandvik Loader · asset sale · closed; Nyrstar Tennessee Mines - Strawberry Plains LLC (related party) · MFM's right, title and interest in an equipment lease between MFM, as lessee, and Sandvik Canada Inc., as lessor, dated April 19, 2018 · asset sale · closed
  • Sale advisor FTI Capital Advisors - Canada ULC (financial advisor)
  • Sale outcome Liquidation in progress — Tender Process for the sale of various redundant mining equipment and parts inventory
  • + 1 more extracted fact
PDF · Subscribers
NTM Approval and Vesting Order
  • Closing terms Vesting effective upon delivery by the Monitor of the Monitor's Certificate confirming the transaction has occurred
  • Order date 2 August 2024
  • Purchaser Nyrstar Tennessee Mines – Strawberry Plains LLC · the leases described in the NTM Agreement (the "Purchased Lease") · asset sale · approved
  • Stalking horse Subscribers
PDF · Subscribers
Omnibus Approval Order
  • Order date 2 August 2024
  • Presiding officer Justice Fitzpatrick
  • Sale outcome Sale process approved — Approval of a tender process for various mining equipment and parts located at the Mine, and an omnibus approval mechanism for resulting transactions
  • Closing terms Subscribers
  • + 1 more extracted fact
PDF · Subscribers
Stay Extension and Additional Relief Order
  • Order date 2 August 2024
  • Presiding officer Justice Fitzpatrick
  • Stay extended to 31 October 2024
PDF · Subscribers
Affidavit #4 of Michele HayPDF · Subscribers
Affidavit #3 of Michele HayPDF · Subscribers
Fourth Report of the Monitor
  • Process results 0 bids
  • Purchaser Nyrstar Tennessee Mines - Strawberry Plains LLC (related party) · MFM's right, title and interest in an equipment lease between MFM, as lessee, and Sandvik Canada Inc. (' Sandvik '), as lessor · asset sale · proposed
  • Sale advisor FTI Capital Advisors - Canada ULC (financial advisor); Rouse Services Canada Ltd. (auctioneer)
  • Stalking horse Subscribers
PDF · Subscribers
Affidavit #6 of Hein FreyPDF · Subscribers
Requisition (Confirming Hearing Re: Stay Extension)PDF · Subscribers
Entered Order Made After Application
  • Presiding officer Justice Fitzpatrick
PDF · Subscribers
Entered Order Sealing Order
  • Presiding officer Justice Fitzpatrick
PDF · Subscribers
Affidavit #2 of Michele HayPDF · Subscribers
Affidavit #1 of Michele HayPDF · Subscribers
Affidavit No. 1 of Donald MacLellanPDF · Subscribers
Application ResponsePDF · Subscribers
Third Report of the Monitor
  • Sale advisor FTI Capital Advisors - Canada ULC (financial advisor)
  • Sale outcome No acceptable bid — the SISP did not result in any acceptable going-concern transactions for the mine and was terminated
  • Stalking horse Subscribers
PDF · Subscribers
Affidavit #4 of Hein FreyPDF · Subscribers
Approval and Vesting Order
  • Closing terms Vesting effective upon delivery of Monitor's Certificate confirming the sale transaction has occurred
  • Order date 7 March 2024
  • Purchaser Breakwater Resources Ltd. · the assets described in the Breakwater Agreement (the "Purchased Lease") · asset sale · approved
  • Stalking horse Subscribers
PDF · Subscribers
Affidavit #1 of Stuart OlleyPDF · Subscribers
Requisition - GeneralPDF · Subscribers
SISP and Stay Extension Order
  • Bid deadline 12 April 2024
  • Order date 27 February 2024
  • Outside date 5 July 2024
  • Break fee Subscribers
  • + 6 more extracted facts
PDF · Subscribers
Second Report of the Monitor
  • Purchaser Breakwater Resources Ltd. (related party) · MFM's right, title and interest in an equipment lease between MFM, as lessee, and Epiroc Canada Inc. ('Epiroc'), as lessor, dated February 26, 2022 (the "Epiroc Lease") · asset sale · proposed
  • Sale advisor FTI Capital Advisors - Canada ULC (financial advisor)
  • Sale outcome Sale process approved — SISP approved and underway; Breakwater transaction proposed for Court authorization
  • Stalking horse Subscribers
PDF · Subscribers
Procedures for the Sale and Investment Solicitation Process
  • Bid deadline 12 April 2024
  • Order date 27 February 2024
  • Outside date 5 July 2024
  • Break fee Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Affidavit #3 of Hein FreyPDF · Subscribers
Amended and Restated Initial Order
  • Order date 28 December 2023
  • Stay expiry 29 February 2024
PDF · Subscribers
First Report of the MonitorPDF · Subscribers
Affidavit #2 of Hein FreyPDF · Subscribers
Affidavit #1 of Hein Frey, sworn Dec. 17, 2023
PDF · Subscribers
Creditor ListPDF · Subscribers
Initial Order
  • Applicant Myra Falls Mine Ltd.
  • Appointee FTI Consulting Canada Inc.
  • Appointee role Monitor
  • Commencement date 18 December 2023
  • + 5 more extracted facts
PDF · Subscribers
Notice of Hearing of PetitionPDF · Subscribers
Notice to CreditorsPDF · Subscribers
Petition
  • Applicant Myra Falls Mine Ltd.
  • Appointee FTI Consulting Canada Inc.
  • Appointee role monitor
  • Commencement date 18 December 2023
  • + 5 more extracted facts
PDF · Subscribers
Pre-Filing Report of the Proposed Monitor
  • Financial position · Secured creditors · Unsecured creditors Subscribers
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., “Myra Falls Mine Ltd.” (CCAA), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/myra-falls-mine-ltd

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Sources last checked · summary updated 9 August 2026 · Report a correction · Printed from proceedings.ca/case/myra-falls-mine-ltd

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.