Quebec · CCAA
Ninth Report to the Court submitted by Deloitte Restructuring Inc. in its capacity as Monitor dated April 15, 2025
Court officer report · 15 April 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- cash on handnote: Table figures are in 000's CAD; ending cash balance for period ended April 6, 2025. · as at: 2025-04-06 · amount: 22618000 · currency: CAD
- operational summaryStornoway operated under cold care and maintenance following completion of its final (fifth) milling campaign, finalized dismantling and closure of the underground mine, initiated environmental rehabilitation, and continued to sell Non-Core Assets while negotiating with New Gold on the Mobile Camps and Non-Core Equipment transactions.
- process resultsbids: 11 · note: Non-Core Equipment Call for Tender: 12 potential buyers solicited, 6 submitted offers prior to the Bid Deadline, 11 total offers received (two bidders submitted multiple bids) · as of: 2024-12-20 · solicited: 12 · qualified bids: 6
- purchaserNew Gold Inc.; price: note: 10% deposit already transferred to a trust account held by the Monitor; price payable in cash at closing · basis: cash · sealed: true · currency: CAD · scope: 43 assets marketed during the Non-Core Equipment Call for Tender (the 'Purchased Assets') · status: proposed · name note: unnamed successful bidder for Non-Core Equipment (Purchased Assets) · structure: assets · name source: operative · relationship: unstated
- report date15 April 2025
- report noNinth Report
- sale outcometext: The Monitor believes the Mobile Camps Transaction and the Non-Core Equipment Transaction should be approved by the Court · scope: ancillary · status: pending_approval