Marble, columns and stairs
Nov 23, 2020

McMillan acted as debtors’ counsel for Northern Silica Corporation, Heemskirk Mining Pty. Ltd., Heemskirk Canada Holdings Limited, Heemskirk Canada Limited, Custom Bulk Services Inc. and HCA Mountain Minerals (Moberly) Limited (collectively, the “NSC Companies”), in connection with their restructuring proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”).  NSC Companies were silica mining and processing companies operating in Alberta and British Columbia.

Non-debtor initiated CCAA proceedings are unusual. The petitioning creditors, QMetco Limited and Taurus Resources No. 2 B.V., were the senior secured creditors of some, but not all, of the NSC Companies. As the NSC Companies operated an integrated business, the Court of Queen’s Bench of Alberta granted an initial order under the CCAA in respect of all of the NSC Companies.

The McMillan team was led by Adam Maerov and included Kourtney Rylands, Preet Saini, Julia Loney, and Alex Grigg.

McMillan’s Restructuring & Insolvency Group is one of Canada’s leading business insolvency groups. Our highly skilled team includes top-ranked lawyers known for their expertise and creative problem-solving, allowing McMillan to deliver the highest standards of transactional and structuring leadership, and commercial advocacy. We have advised on the restructuring, purchase and sale of businesses in a variety of industries. We regularly work with financially challenged companies, boards of directors, Canadian and US financial institutions, lending syndicates, bondholders, investors, ad hoc and official creditors’ committees, court-appointed officers and major customers and suppliers of insolvent companies. We provide our clients with successful outcomes and comprehensive solutions to the most challenging problems.