British Columbia · CCAA
Petition to Court
Application / notice of application · 1 May 2026
What we verified from this filing6 verified
- financial positionnote: Total liabilities comprised of current liabilities ~US$98 million and non-current liabilities ~US$384 million (book value); total assets not stated in the document · page: 10 · as at: 2025-12-31 · basis: book value · scope: Burgundy Group (consolidated - parent Burgundy Diamond Mines Ltd. and all subsidiaries, including ACDC and BDC) · currency: USD · total liabilities: 482000000
- secured creditorsnote: Funding provided under the Large Enterprise Tariff Loan (LETL) Facility, increased from CDN $115 million (Dec 2025) to CDN $175 million (March 2026); Burgundy Diamond Mines Ltd. is guarantor of the LETL Facility (related party guarantee) · page: 10 · as of: March 2026 · amount: 175000000 · debtor: Arctic Canadian Diamond Company Ltd. (ACDC) · creditor: Canada Enterprise Emergency Funding Corporation (CEEFC) · currency: CAD · security: First-ranking security over ACDC's assets securing the LETL Facility
- secured creditorsnote: Second ranking lenders behind CEEFC · page: 10 · as of: currently owed · amount: 78000000 · debtor: Arctic Canadian Diamond Company Ltd. (ACDC) · creditor: 2L Group (second-lien noteholders) · currency: USD · security: Second-ranking security
- secured creditorsnote: Regulatory - Reclamation Obligations under NWT/Canada mining legislation; estimated total undiscounted future cash flows required to settle closure costs of the Ekati Mine · page: 10 · as of: 2025-12-31 · amount: 427900000 · debtor: Arctic Canadian Diamond Company Ltd. (ACDC) · creditor: Government of the Northwest Territories (GNWT) · currency: CAD · security: Secured by third-party surety bonds and cash collateralization (restricted cash and lines of credit)
- secured creditorsnote: Approximate bond value; Burgundy Diamond Mines Ltd. is indemnitor of the Primary Bond (related party guarantee) · page: 10 · amount: 184000000 · debtor: Arctic Canadian Diamond Company Ltd. (ACDC) · creditor: Surety Bond Providers (Primary Bond) - Zurich Insurance Company Ltd., Aviva Insurance Company of Canada, Argonaut Insurance Company · currency: CAD · security: Primary Bond posted with GNWT securing Reclamation Obligations
- secured creditorsnote: Approximate bond value; Burgundy Diamond Mines Ltd. is indemnitor of the Point Lake Bond (related party guarantee) · page: 10 · amount: 13500000 · debtor: Arctic Canadian Diamond Company Ltd. (ACDC) · creditor: Surety Bond Providers (Point Lake Bond) · currency: CAD · security: Point Lake Bond in favour of GNWT securing Reclamation Obligations