Western Potash Corporation
- Proceeding
- CCAACompanies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- S-266288
Western Potash Corporation sought protection under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended, in proceedings commenced on August 21, 2026 before the Supreme Court of British Columbia under court file S-266288. The application was brought by WPC (Jersey) Limited. FTI Consulting Canada Inc. has been named proposed monitor.
The court approved the sale and investment solicitation process, with a phase one deadline of October 21, 2026.
Source: SISP Notice
FTI Consulting Canada Inc. runs the process as sale agent with FTI Capital Advisors Canada ULC as financial advisor, soliciting sale, investment or restructuring opportunities.
Monitor's First Report: the Milestone potash mine is substantially complete but not operating, the pre-filing strategic process produced no offer and was terminated, and the Monitor, with enhanced powers, seeks to run a sale and investment solicitation process.
Source: First Report of the Monitor
The Supreme Court of British Columbia granted the initial order on August 21, 2026, with the stay running to August 31, 2026.
Source: Initial Order
Case update
Western Potash: the debtors' counsel comes off the charge
Ten days after the initial order went unopposed, Western Potash's management asked the Supreme Court of British Columbia to take powers back from the monitor. Justice Stephens instead granted everything FTI sought — the stay to December 18, US$6 million of Appian's money, a $700,000 administration charge with the company's own lawyers removed from it and capped at $100,000, and a sale process the monitor may abandon after Phase 1 if no bid clears the senior debt.
Filing brief
Western Potash: the lender writes the first affidavit
More than $240 million went into the Milestone potash mine southeast of Regina against a Phase I budget of $149.45 million, and the project still cannot produce a tonne. On August 21, WPC (Jersey) Limited — the Appian vehicle owed not less than CDN$85 million, plus US$16.8 million of unpaid interest — petitioned its own borrower into the CCAA in Vancouver and came away with a stay to August 31, a US$1 million opening draw on a US$6 million DIP, and a monitor holding powers the debtors usually keep.
Debtor
Western Potash Corporation
Monitor
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Stephens | Supreme Court of British Columbia | 2 orders, Aug 2026 | 17 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorFTI | Stikeman Elliott LLP | 27 Aug 2026 | Service list · 27 Aug 2026 |
| DebtorWestern Potash Corporation | Dentons Canada LLP | 27 Aug 2026 | Service list · 27 Aug 2026 |
| CreditorWPC (Jersey) Limited | Norton Rose Fulbright Canada LLP | 27 Aug 2026 | Service list · 27 Aug 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | WPC (Jersey) Limited (Appian)Security Agreement (WPC-Appian) dated May 16, 2022; Debenture by WPC dated May 16, 2022; Security Agreement (WPHC-Appian) dated May 16, 2022; Debenture by 090 Ltd. dated May 16, 2022 - comprehensive security interests — $85 million advanced pursuant to Facility Agreement/Credit Agreement dated April 28, 2022; senior secured creditor; unpaid interest under Credit Agreement now totalling US$16.8 million (separate accrued interest amount, not principal balance); demand letter and NOI under s.244 BIA delivered August 7, 2026 — debtor: Western Potash Corp. (borrower); Western Potash Holdings Corp. | $85M | Pre-Filing Report of the Proposed Monitor |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
10 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale process approved — SISP authorized to solicit sale, investment, or restructuring opportunitiesSISP Notice · 31 Aug 2026
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
SISP Notice
| PDF · Subscribers | |
| Affidavit #2 of Timothy Mister | PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
SISP Procedures
| PDF · Subscribers | |
Sales and Investment Solicitation Process
| PDF · Subscribers | |
Supplement to the First Report of the Monitor
| PDF · Subscribers | |
| Application Response of the Debtors | PDF · Subscribers | |
| Affidavit of Wenye (Bill) Xue | PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
List of Known Creditors
| PDF · Subscribers | |
| Notice of Application | PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Affidavit #1 of Timothy Mister
| PDF · Subscribers | |
| CCAA FAQs | PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
Notice of Hearing
| PDF · Subscribers | |
| Petition | PDF · Subscribers | |
Pre-Filing Report of the Proposed Monitor
| 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., “Western Potash Corporation” (CCAA), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/western-potash-corporation