Alberta · CCAA
First Report of the Proposal Trustee
Court officer report · 6 December 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing4 verified
- financial positionnote: Figures presented in thousands per table header; Property & Equipment net book value of $259.9 million (specialized ultra-class mining equipment) included in total assets · page: 7 · as at: 2024-10-31 · basis: unaudited, book value · scope: entity - KMC Mining Corporation · currency: CAD · total assets: 295432000 · total liabilities: 241843000
- secured creditorsnote: Syndicate of Secured Lenders under Credit Agreement dated August 13, 2024 (Operating Facility, Capital Expenditures Facility, Term Facility); ATB acts as Agent · page: 8 · as of: 2024-10-31 · amount: 108100000 · debtor: KMC Mining Corporation · creditor: ATB Financial (as Agent) and syndicate lenders (Canadian Western Bank, Export Development Canada, Laurentian Bank of Canada) · currency: CAD · security: General Security Agreement (GSA) granting first ranking security interest in all present and after-acquired personal property
- secured creditorsnote: Private charitable foundation associated with the Klemke family (per Klemke Affidavit sworn by Daniel Klemke) - possible related party; secured pursuant to Amended and Restated Promissory Note dated August 13, 2024 · page: 9 · as of: 2024-10-31 · amount: 49800000 · debtor: KMC Mining Corporation · creditor: Klemke Foundation · currency: CAD · security: GSA granting security interest in all present and after-acquired personal property, subordinated only to the Secured Lenders' security
- secured creditorsnote: Consolidated outstanding amounts owing to various equipment lessors, aggregated per document · page: 9 · as of: 2024-10-31 · amount: 52300000 · debtor: KMC Mining Corporation · creditor: PPSA equipment financiers (PMSI class) - Equipment Lenders · currency: CAD · security: Equipment leases over heavy equipment and light-duty service vehicles