March 11, 2022

Filing Type:

Company Counsel: Cox & Palmer

Trustee: Grant Thornton

Trustee Counsel: McInnes Cooper



Canada Fluorspar (NL) Inc. and Canada Fluorspar Inc. (collectively, "CFI"), which operated a fluorspar mine in St. Lawrence, Newfoundland and Labrador, obtained an initial order under the CCAA on March 11, on application by Grant Thornton, CFI's interim receiver. CFI was placed in interim receivership on February 21 (see our summary HERE), on application by PwC as the receiver of Bridging Finance Inc. and certain related entities (collectively, “Bridging”), which provided a $55 million loan to CFI. The purpose of the interim receivership was to preserve CFI’s operations while CFI’s stakeholders pursued options to restructure CFI and avoid bankruptcy. The initial order under the CCAA was granted on March 11, and a SISP was approved in connection with the comeback hearing on March 18. Grant Thornton was appointed monitor. Counsel is Stewart McKelvey for PwC as the receiver of Bridging, Cox & Palmer for CFI, McInnes Cooper for Grant Thornton as interim receiver / monitor, Dentons for HSBC Bank Canada and Goodmans for Golden Gate Capital.

By Dina Milivojevic