March 25, 2022
Canada Fluorspar (NL) Inc., which operated a fluorspar mine in St. Lawrence, Newfoundland and Labrador, had a receiver appointed over certain receivables and financed receivables on March 25, on application by HSBC Bank Canada, owed approximately USD$12 million, plus fees and interest. The company was previously placed in interim receivership and then CCAA protection on application by PwC as the receiver of Bridging Finance Inc. The financed receivables were carved out of the interim receivership/CCAA proceedings. The company and certain affiliates remain under CCAA protection notwithstanding the receivership order. Deloitte was appointed receiver. Counsel is Dentons for HSBC Bank Canada, Cox & Palmer for the company, McInnes Cooper for Grant Thornton as monitor and Stewart McKelvey for PwC as the receiver of Bridging Finance Inc.
By Dina Milivojevic