Alberta · CCAA
First Report of the Monitor (filed)
Court officer report · 3 July 2020
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What we verified from this filing4 verified
- secured creditorsnote: Described as 'senior secured creditors of the Debtors, with the exception of Custom Bulk Services Inc.'; no balance stated in these pages. · page: 3 · debtor: NSC Companies (excluding Custom Bulk Services Inc.) · creditor: QMetco Limited and Taurus Resources No. 2 B.V. · currency: CAD
- financial positionnote: Current assets approximately $5.7 million and current liabilities approximately $84.9 million as at same date. · page: 6 · as at: 2020-03-31 · basis: unaudited, net book value, consolidated · scope: consolidated - NSC Companies (Northern Silica Corporation, Heemskirk Mining Pty. Ltd., Custom Bulk Services Inc., Heemskirk Canada Limited, Heemskirk Canada Holdings Limited, HCA Mountain Minerals (Moberly) Limited) · currency: CAD · total assets: 66000000 · total liabilities: 89800000
- secured creditorsnote: Related party - affiliate of the Moving Parties (QMetco and Taurus). Not yet advanced in full as of report date; charge amount includes interest and recoverable costs beyond principal. · page: 9 · as of: Term Sheet dated July 2, 2020 · amount: 3000000 · debtor: NSC Companies · creditor: Vitreo Minerals Ltd. (Interim Lender, affiliate of Moving Parties) · currency: CAD · security: Proposed Interim Lender's Charge (court-ordered priority charge) to a maximum of $3,500,000, securing non-revolving priority interim financing facility with maximum principal amount of $3,000,000
- secured creditorsnote: Court-ordered charges (Administration, Directors', Interim Lender's) rank subordinate to ATB Financial's existing security interest; balance not stated. · page: 14 · debtor: Custom Bulk Services Inc. · creditor: ATB Financial · currency: CAD · security: Existing security interest in the property of Custom Bulk Services Inc.