July 31, 2019
Yukon Zinc, a Vancouver, British Columbia-based company that owns the Wolverine Mine in the Yukon Territory, filed an NOI on July 31, listing $16.4 million in liabilities. The NOI filing comes a day before the hearing of the Government of Yukon's petition to appoint a receiver over the company. The Government of Yukon has grown increasingly concerned about the continually deteriorating condition of the mine site, as well as the company's failure to pay approximately $25.0 million in security outstanding since May, 2018. Over the company's objections, the court has granted a limited lifting of the stay to allow the Government of Yukon to proceed with its application to appoint a receiver. Alvarez & Marsal is the proposal trustee. PwC is the proposed receiver. Counsel is Fasken for the company, BLG for the proposal trustee and Dentons for the proposed receiver.