British Columbia · CCAA
Pre-Filing Report of the Proposed Monitor
Pre-filing report · 20 August 2026
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 filing14 verified
- applicantWPC (Jersey) Limited
- appointeeFTI Consulting Canada Inc.
- appointee roleProposed Monitor
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- proceeding typeccaa
- statutory basisCompanies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- secured creditorsnote: Affiliate of Appian (related party); holds royalty on mining properties; amount of royalty obligation not stated · page: 7 · debtor: Western Potash Corp.; 0907414 B.C. Ltd. · creditor: WPC Royalty Corp. · currency: CAD · security: Second-ranking security on respective assets securing royalty agreement obligations
- secured creditorsnote: $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 · page: 8 · amount: 85000000 · debtor: Western Potash Corp. (borrower); Western Potash Holdings Corp. and 0907414 B.C. Ltd. (guarantors) · creditor: WPC (Jersey) Limited (Appian) · currency: CAD · security: 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
- secured creditorsnote: Stated as a floor - judgments 'in excess of' $928,000; certain builders authorized, if judgment unpaid within 120 days, to apply for orders for sale of WPC's property including the Milestone Project · page: 9 · amount: 928000 · debtor: Western Potash Corp. · creditor: Certain unpaid builders (unnamed) · currency: CAD · security: Builders' liens
- secured creditorspage: 10 · amount: 1066801.21 · debtor: Western Potash Corp. · creditor: Rural Municipality of Lajord No. 128 · currency: CAD · security: Tax lien registered against WPC's real property; claim to title
- unsecured creditorsnote: Seeking CDN$3,819,655.00 as collateral security for obligations under a decommissioning and reclamation bond of approximately CDN$4.3 million (bond amount is separate approximation, not the claim amount) · page: 10 · basis: Complaint filed in New York State Court in February 2026 · amount: 3819655 · debtor: Western Potash Corp. · creditor: Intact Insurance · currency: CAD
- unsecured creditorsnote: Unpaid provincial sales tax liability · page: 10 · basis: Known creditor claim as reported by Appian to the Proposed Monitor · amount: 299518.53 · debtor: Western Potash Corp. · creditor: Provincial sales tax authority · currency: CAD
- unsecured creditorsnote: Unpaid amounts for work on the Milestone Project · page: 10 · basis: Known creditor claim as reported by Appian to the Proposed Monitor · amount: 488286.24 · debtor: Western Potash Corp. · creditor: Bird Construction Group · currency: CAD
- unsecured creditorsnote: Non-payment of critical mineral lease amounts; amount not stated; regulatory in nature · page: 10 · basis: Known creditor claim as reported by Appian to the Proposed Monitor · debtor: Western Potash Corp. · creditor: Ministry of Energy and Resources · currency: CAD