Quebec · CCAA
First Report to the Court submitted by Deloitte Restructuring Inc. in its capacity as proposed Monitor dated October 26, 2023
Pre-filing report · 26 October 2023
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What we verified from this filing8 verified
- financial positionnote: Total liabilities figure derived directly from stated 'Total liabilities & Equity' (288,037) less stated Equity (-20,665); components (current liabilities 56,738 + long-term liabilities 251,964) also sum to 308,702, consistent with the separate Summary of Debts table total. · page: 6 · as at: 2023-09-30 · basis: Non-Audited (9-month interim financial statements); figures expressed in thousands of Canadian dollars per table header · scope: Consolidated basis (Stornoway group: 1127420 Canada Inc. and Stornoway Diamonds (Canada) Inc.) · currency: CAD · total assets: 288037000 · total liabilities: 308702000
- secured creditorsnote: Treated as unaffected creditor in CCAA proceedings; independent security review by Osler underway (opinion pending) · page: 8 · as of: 2023-09-30 · amount: 24797000 · debtor: Stornoway (1127420 Canada Inc. and Stornoway Diamonds (Canada) Inc.) · creditor: Caisse de dépôt et placement du Québec (CDPQ Ressources Inc.) · currency: CAD · security: Hypothec on the universality of all Stornoway property, movable and immovable, personal and real, corporeal and incorporeal, tangible and intangible, present and future (one of the 'Streamers')
- secured creditorsnote: Treated as unaffected creditor in CCAA proceedings; independent security review by Osler underway (opinion pending) · page: 8 · as of: 2023-09-30 · amount: 24797000 · debtor: Stornoway (1127420 Canada Inc. and Stornoway Diamonds (Canada) Inc.) · creditor: TF R&S Canada Ltd. · currency: CAD · security: Hypothec on the universality of all Stornoway property, movable and immovable, personal and real, corporeal and incorporeal, tangible and intangible, present and future (one of the 'Streamers')
- secured creditorsnote: Treated as unaffected creditor in CCAA proceedings; independent security review by Osler underway (opinion pending) · page: 8 · as of: 2023-09-30 · amount: 7188000 · debtor: Stornoway (1127420 Canada Inc. and Stornoway Diamonds (Canada) Inc.) · creditor: Washington State Investment Board · currency: CAD · security: Hypothec on the universality of all Stornoway property, movable and immovable, personal and real, corporeal and incorporeal, tangible and intangible, present and future (one of the 'Streamers')
- secured creditorsnote: Treated as unaffected creditor in CCAA proceedings; independent security review by Osler underway (opinion pending) · page: 8 · as of: 2023-09-30 · amount: 59513000 · debtor: Stornoway (1127420 Canada Inc. and Stornoway Diamonds (Canada) Inc.) · creditor: Osisko Gold Royalties Ltd. · currency: CAD · security: Hypothec on the universality of all Stornoway property, movable and immovable, personal and real, corporeal and incorporeal, tangible and intangible, present and future (one of the 'Streamers')
- secured creditorsnote: Treated as unaffected creditor in CCAA proceedings; independent security review by Osler underway (opinion pending) · page: 8 · as of: 2023-09-30 · amount: 119854000 · debtor: Stornoway (1127420 Canada Inc. and Stornoway Diamonds (Canada) Inc.) · creditor: Diaquem Inc. · currency: CAD · security: Charge over the universality of all present and future mining titles of Stornoway
- secured creditorspage: 8 · as of: 2023-09-30 · amount: 5876000 · debtor: Stornoway (1127420 Canada Inc. and Stornoway Diamonds (Canada) Inc.) · creditor: Caterpillar Financial Services Limited (and other leases) · currency: CAD · security: Charge over all financed equipment of Stornoway
- secured creditorsnote: Treated as unaffected creditor in CCAA proceedings; independent security review by Osler underway (opinion pending) · page: 8 · as of: 2023-09-30 · amount: 7074000 · debtor: Stornoway (1127420 Canada Inc. and Stornoway Diamonds (Canada) Inc.) · creditor: Albion Exploration Fund, LLC · currency: CAD · security: Hypothec on the universality of all Stornoway property, movable and immovable, personal and real, corporeal and incorporeal, tangible and intangible, present and future (one of the 'Streamers')