Wabush Mines – September 24, 2020
September 24, 2020
We are advised by the Monitor that settlements have been reached on two other outstanding claim issues, unrelated to the claims of employees and retirees, and that the Monitor will soon be in a position to pay a second distribution to all creditors including employee and retirees pursuant to the Wabush CCAA Plan of Compromise. The Monitor is still in the process of obtaining regulatory approval for the distribution to employees and retirees, and has told us that the timing of the payment is not yet known. We will continue to follow up with the Monitor and provide further updates here on the timing and the amount of the second distribution.
