Behind the scenes with Tacora Resources Inc.'s restructuring under the CCAA

Lee Nicholson of Stikeman Elliott recounts how Tacora Resources’ high-stakes restructuring under the CCAA—marked by fierce litigation between bondholders and offtake partner Cargill over DIP financing and competing bids—culminated in a negotiated sale to a group including both parties, securing a US$250 million equity injection, a new 10-year offtake deal, and the preservation of hundreds of jobs at Labrador’s Scully mine.

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