Nevada Copper
- Proceeding
- Foreign recognition (CCAA)section 46 of the Companies' Creditors Arrangement Act
- File
- CV-24-00722252-00CL
- Industry
- Mining · Base & battery metals
Nevada Copper, Inc. applied to the Ontario Superior Court of Justice (Commercial List) on June 17, 2024 under section 46 of the Companies' Creditors Arrangement Act for recognition in Canada of the Nevada Copper Chapter 11 cases, court file CV-24-00722252-00CL. At the petition date total secured debt stood at approximately US$279.2 million, of which approximately US$188,000,000 of principal and capitalised interest was owing to the Second A&R Credit Agreement lenders, with KfW IPEX-Bank GmbH as agent. Triple Flag International Ltd. holds US$78,200,000 under a stream agreement, Pala Investments Ltd. US$10,000,000 under the Third A&R Loan Agreement, and Concord Resources Limited US$3,000,000 on an advance payment facility. Unsecured funded debt runs to approximately US$226.6 million, including US$148,300,000 of intercompany loans from Nevada Copper Corp.
The officer filed report no. Third Report. The report focuses on the completed sale process, with the Debtors' assets sold to Southwest Critical Materials LLC pursuant to a court-approved Asset Purchase Agreement; no ongoing operational details for the Canadian Debtors are discussed beyond the sale.
Factum Of The Foreign Representative (Motion For Recognition Of Sale Order, returnable October 2, 2024) — Application / notice of application
Recognition Order (Recognition Of Stalking Horse Order, KEIP Order And KERP Order) was filed.
Source: Recognition Order (Recognition Of Stalking Horse Order, KEIP Order And KERP Order)
The officer filed report no. Second Report. The Debtors are pursuing a Chapter 11 sale process for substantially all assets, with a $128 million stalking horse agreement with Southwest Critical Materials LLC approved by the U.S. court. KEIP and KERP employee programs were also authorized, and recognition of these orders is sought in Canada.
Factum Of The Foreign Representative (Motion For Recognition Of Stalking Horse, KEIP And KERP Order, Returnable Aug. 30, 2024) — Application / notice of application
Factum Of The Foreign Representative (Motion for Recognition of Final Orders and Bidding Procedures Order, returnable July 24) — Application / notice of application
Supplemental Motion Record (Recognition of Final Orders and Bidding Procedures Order) — Application / notice of application
Supplemental Application Record (Returnable June 20, 2024) was filed. Court file CV-24-00722252-00CL.
Source: Supplemental Application Record (Returnable June 20, 2024)
Nevada Copper, Inc. issued its notice of application on June 17, 2024, opening the Ontario proceeding to recognise the Chapter 11 cases under section 46.
Undated filings1 — no date appears on the document · show
Compendium Of The Foreign Representative (Recognition Of Sale Order) — Interim order granted
Debtor
Nevada Copper
Information officer
Alvarez & Marsal
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 4 orders, Jul 2024 – Sep 2024 | 318 cases on record |
| Justice Penny | Ontario Superior Court of Justice | 3 orders, Jun 2024 | 196 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Apr 2025 | 245 cases on record |
Counsel of record
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Second A&R Credit Agreement Lenders (KfW IPEX-Bank GmbH as agent; Initial Senior Lenders; Pala Investments Limited (Tranche A-2); Triple Flag International Ltd. (Tranche A-2); TF R&S Canada Ltd (Trancas of Petition Date — First-priority liens on substantially all property/assets of the Debtors (Project Collateral, except APA Collateral); second-priority lien on APA Collateral; Tranche B Loans separately guaranteed by Pala — Approximate principal amount outstanding (including capitalized interest) as of Petition Date; part of total secured debt of ~$279.2 million — debtor: Nevada Copper, Inc. and all Debtors (guarantors) | $188M USD | First Report of the Information Officer |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
7 more claims in 2 classes The stack holds Secured and Unsecured claims.
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See all plansSale approved — the Stalking Horse Bidder identified as sole Successful Bidder after no other Qualified Bids received; Sale Order entered approving the Asset Purchase TransactionThird Report of the Information Officer · 30 Sep 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Southwest Critical Materials LLCStalking horsethe purchase of the Purchased Assets (as defined in the Stalking Horse Agreement) · asset sale · agreement 9 Aug 2024 | Subscribers | Approved30 Aug 2024 | Recognition Order (Recognition Of Stalking… |
| Date | Document | File |
|---|---|---|
Service List
| PDF · Subscribers | |
Endorsement Of Justice Steele
| PDF · Subscribers | |
Recognition Order (Recognition Of Plan Confirmation Order)
| PDF · Subscribers | |
| Factum Of The Foreign Representative (Motion For Recognition Of Sale Order, returnable October 2, 2024) | PDF · Subscribers | |
Third Report of the Information Officer
| PDF · Subscribers | |
Recognition And Vesting Order (Recognition Of Sale Order)
| PDF · Subscribers | |
Endorsement Of Justice Cavanagh
| PDF · Subscribers | |
Recognition Order (Recognition Of Stalking Horse Order, KEIP Order And KERP Order)
| PDF · Subscribers | |
| Factum Of The Foreign Representative (Motion For Recognition Of Stalking Horse, KEIP And KERP Order, Returnable Aug. 30, 2024) | PDF · Subscribers | |
Second Report of the Information Officer
| PDF · Subscribers | |
| Factum Of The Foreign Representative (Motion for Recognition of Final Orders and Bidding Procedures Order, returnable July 24) | PDF · Subscribers | |
First Report of the Information Officer
| PDF · Subscribers | |
| Supplemental Motion Record (Recognition of Final Orders and Bidding Procedures Order) | PDF · Subscribers | |
Recognition Order (Recognition of Final Orders and Bidding Procedures Order)
| PDF · Subscribers | |
Endorsement Of Justice Penny
| PDF · Subscribers | |
| Factum of the Applicant (Application for Recognition of Foreign Main Proceeding) | PDF · Subscribers | |
| Report of the Proposed Information Officer | PDF · Subscribers | |
Supplemental Application Record (Returnable June 20, 2024)
| PDF · Subscribers | |
Application Record (Returnable June 19, 2024)
| PDF · Subscribers | |
Initial Recognition Order (Foreign Main Proceeding)
| PDF · Subscribers | |
Supplemental Order (Foreign Main Proceeding)
| PDF · Subscribers | |
Compendium Of The Foreign Representative (Recognition Of Sale 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., “Nevada Copper” (Foreign recognition (CCAA)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/nevada-copper