On May 20, 2015 Wabush Iron Co. Limited, Wabush Resources Inc., Wabush Mines, Arnaud Railway Company, and Wabush Lake Railway Company Limited (collectively, “Wabush”) obtained protection from their creditors under the federal Companies’ Creditors Arrangement Act (“CCAA”) by order of Mr. Justice Stephen Hamilton of the Québec Superior Court (Commercial Division) in Montreal, Québec. The accounting firm of FTI Consulting Canada Inc. was appointed as Monitor.
To view court documents, orders and other publicly available information with respect to the CCAA proceedings, please visit the website of the Monitor by clicking here.
On June 22, 2015 by Order of Mr. Justice Hamilton, Michael Keeper, Terence Watt, Damien Lebel, and Neil Johnson (the “Client Committee”) were appointed as Representatives of all Non-Union Active Employees and Retirees in Wabush’s CCAA Proceedings, and Koskie Minsky LLP was appointed as Representative Counsel with respect to all matters pertaining to any recovery, compromise of rights or entitlements of said individuals under the Wabush pension plans and other benefit plans. To view a copy of the Representation Order please click here.
Wabush Mines is currently involved in a court-approved sales process where it is seeking to sell its assets, with the oversight of the Monitor. The sales process is currently in progress.
If you have questions about the Wabush CCAA proceeding, please call us on the toll-free telephone line we set up for Wabush Salaried Active Employees and Retirees at 1-800-965-6636 or email us at wabushrepcounsel@kmlaw.ca.
