What we verified from this filing7 verified
- secured creditorsnote: CDN $184 million is the approximate posted bond value, not an outstanding balance. Sureties' claims subordinated to LETL Facility obligations pursuant to the Intercreditor Agreement. ACDC/Burgundy/1403432 B.C. Ltd. are indemnitors. · page: 16 · as of: 2025-12-31 · amount: 184000000 · debtor: ACDC / BDC · creditor: Zurich Insurance Company Ltd., Aviva Insurance Company of Canada, and Argonaut Insurance Company (Primary Bond sureties) · currency: CAD · security: Surety bonds in favour of GNWT securing Reclamation Obligations; registered PPSA (Alberta) security against all present and after-acquired personal property of BDC
- secured creditorsnote: CDN $13.5 million is the approximate posted bond value, not an outstanding balance. Subordinated to LETL Facility obligations pursuant to the ICA. ACDC and Burgundy are indemnitors. · page: 17 · as of: 2025-12-31 · amount: 13500000 · debtor: ACDC / BDC · creditor: Axis Reinsurance Company (Point Lake Bond) · currency: CAD · security: Surety bond in favour of GNWT securing Reclamation Obligations for Point Lake Open Pit; registered PPSA (Alberta) security against all present and after-acquired personal property of BDC
- secured creditorsnote: LETL Facility fully drawn (CDN $175 million); guaranteed by Burgundy; other secured parties (2L Group, sureties) subordinated to this security pursuant to Intercreditor Agreement dated Dec 17, 2025. · page: 20 · amount: 175000000 · debtor: ACDC · creditor: Canada Enterprise Emergency Funding Corporation (CEEFC) · currency: CAD · security: First-ranking security over all present and after-acquired assets of ACDC (LETL Facility)
- financial positionnote: Total assets = current assets (~US$141M) + non-current assets (~US$298M); total liabilities = current liabilities (~US$98M) + non-current liabilities (~US$384M). Figures as stated in affidavit, not independently summed by extractor except as document itself presents component totals. · page: 26 · as at: 2025-12-31 · basis: book value (per Burgundy's preliminary unaudited financial report for year ended Dec 31, 2025) · scope: Burgundy Group (consolidated, including ACDC and BDC) · currency: USD · total assets: 440000000 · total liabilities: 482000000
- secured creditorsnote: Aggregated registrations; individual creditor names and balances not stated in this excerpt. · page: 27 · as of: 2026-04-23 · debtor: ACDC · creditor: PPSA equipment financiers / blanket registrants (PMSI class and all-property registrants) · currency: CAD · security: 39 PPSA (Alberta) registrations (incl. 2 land charges) by 12 parties and 10 PPSA (British Columbia) registrations by 9 parties, primarily financed/serial-numbered equipment and all present and after-acquired personal property of ACDC
- secured creditorsnote: Second lien loan (2L Loan), originally US$70M, amended to ~US$73.8M outstanding commitments; now subordinate in priority to the LETL Facility per ICA; interest deferred/PIK'd from Sept 1, 2025. · page: 28 · as of: 2026-03-31 · amount: 78300000 · debtor: ACDC · creditor: 2L Group (Polen Capital Management, Brigade Capital Management LP, ACD Western Holding LLC), acting through Alter Domus (US) LLC as administrative/collateral agent · currency: USD · security: All present and future personal property of ACDC and ACDM; Burgundy's ownership of ACDM shares; guarantee by ACDM; security interest in ACDC's two CIBC bank accounts (blocked account agreement)
- secured creditorsnote: CDN $6.75 million of the ATB LCs were called on in Nov 2025 (transferred to bond provider); remainder moved to Servus Credit Union and fully cash collateralized, limiting residual credit exposure. · page: 29 · amount: 10000000 · debtor: ACDC · creditor: ATB Financial / Servus Credit Union · currency: CAD · security: Letters of credit issued to secure Point Lake Bond and certain permitting obligations to the Receiver General of Canada (Fisheries and Oceans)