Minto Metals Corp

Receivership

Page last updated: October 22, 2024

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.


Status of file as of September 6, 2024

At the Court hearing held on September 5, 2024, the Court granted three orders that included an order approving the Receiver's activities as set out in the Fifth Report, a sealing order for the Confidential Supplement to the Fifth Report and an Approval and Vesting Order. A copy of the Court Orders can be found under the Court Orders tab.

Status of file as of August 28, 2024

A hearing is scheduled for September 5, 2024 in the Yukon Court. The Receiver's Fifth Report for the Yukon Court can be found under the Receiver's Report tab.

Status of file as of May 13, 2024

The Receiver is in the process of commencing liquidation and has engaged Maynards Auctioneers to complete the liquidation. Any parties who wish to participate in the liquidation or are interested in purchasing assets should reach out to Mike McIntosh at mmcintosh@maynards.com and Michael Seibold at michael@maynards.com.

Status of file as of May 10, 2024

At the Court hearing held on May 10, 2024, the Court granted an order that authorized the Receiver to proceed with the liquidation plan, an order approving the Receiver's activities and a sealing order for the last two pages of the Confidential Supplemental to the Fourth Report. A copy of the Court Orders can be found under Court Orders.

Status of file as of May 6, 2024

A hearing is scheduled for May 10, 2024 in the Yukon Court. The Receiver's Fourth Report for the Yukon Court can be found under the Receiver's Report tab. All related court materials can be found under the Court Materials tab.

Status of file as of April 4, 2024

In respect to the April 5, 2024 court hearing, the Receiver issued its Supplement to the Receiver's Third Report dated April 4, 2024. A copy of the report can be found under the Receiver's tab.

Status of file as of March 28, 2024

A hearing is scheduled for April 5, 2024 in the Yukon Court. The Receiver's Third Report for the Yukon Court can be found under the Receiver's Report tab. All related court materials can be found under the Court Materials tab.

Status of file as of March 11, 2024

At the Court hearing held on February 26, 2024, the Court granted an order that authorized and directed the Receiver to execute the Assignment Agreement. A copy of the Court Order can be found under Court Orders.

Status of file as of February 20, 2024

At the Court hearing held on February 12, 2024, the Court granted an order approving the Receiver's activities as set out in the First Report, the Supplement to the First Report and the Second Report. In addition, the Court adjourned the Receiver's application to execute an Assignment as noted in the Receiver's Second Report and Supplement to the Second Report until February 26, 2024.

Status of file as of February 13, 2024

The Receiver will be issuing T4 slips for the 2023 calendar year via postal mail by February 29, 2024. The mailing addresses used will be the last address in the payroll records of Minto Metals Corp. If your mailing address has changed, please email ca_minto_receivership@pwc.com with the updated address.

Status of file as of February 9, 2024

In respect to the February 12, 2024 court hearing, the Receiver issued its Supplement to the Receiver's Second Report dated February 9, 2024. A copy of the report can be found under the Receiver's tab.

Status of file as of January 31, 2024

A hearing is scheduled for February 12, 2024 in the Yukon Court. The Receiver's Second Report for the Yukon Court can be found under the Receiver's Report tab.

All related court materials can be found under the Court Materials tab.

Status of file as of November 9, 2023

A hearing is scheduled for Wednesday, November 15, 2023 in the Yukon Court. The Receiver's First Report and Supplement to the Receiver's Report for the Yukon Court can be found under the Receiver's Report tab.

All related court materials can be found under the Court Materials tab.

Status of file as of August 28, 2023

PricewaterhouseCoopers Inc., in its capacity as Court-Appointed Receiver of Minto Metals Corp. is seeking offers for the assets, undertakings and property of Minto Metals Corp. A copy of the Sales and Investment Solicitation Process is included in the “Sales Process” tab above. All future publicly available information related to the Sales Process will be included in this area.

Any interested parties who wish to participate in the sales process should reach out to Spencer Oppal at ca_minto_receivership@pwc.com for more details. The Receiver will be accepting indicative offers from qualified bidders until October 6, 2023.

Status of file as of August 3, 2023

The Receiver is in the process of gaining access to the payroll records of Minto Metals Corp. to enable us prepare pre-populated Proof of Claim forms for the former employees and assist them in filing any eligible claims under the Wage Earners Protection Program (“WEPP”). Further instructions for employees regarding the WEPP process will be communicated to you via email in due course. Please hold off on submitting a WEPP claim to Service Canada as it will be rejected, until the Receiver is able to provide Service Canada with a signed copy of your Proof of Claim and provide you with further instructions.

If you would like to learn more about WEPP, please see the following link: https://www.canada.ca/en/employment-social-development/services/wage-earner-protection/employee.html

Status of file as of July 24, 2023

On July 24, 2023, the Unsold Concentrate Receivership Order granted June 29, 2023 and the Amended Unsold Concentrate Receivership Order granted on July 5, 2023, as discussed in the status updates below, were set aside and the Limited Receivership Order will be discharged once certain activities are performed. Court Materials and Court Orders for the Limited Receivership can now be found under the Limited Receivership Court Materials and Limited Receivership Court Orders tab above.

Additionally on July 24, 2023, a settlement agreement was reached between the parties involved in these proceedings and a Settlement Implementation Order was granted by the Court which can be found under the Court Orders tab above.

On July 24, 2023, the Court granted an Order (the “Receivership Order”) appointing PwC as the receiver and manager of all the assets, undertakings and property of Minto Metals Corp. A copy of the Receivership Order can be found under the Court Orders tab above.

Status of file as of July 17, 2023

The Receiver filed its First Report to Court dated July 14, 2023. A copy of the Report can be found in the "Receiver's Reports."

Status of file as of July 7, 2023

A number of ex-employees of Minto Metal Corp. have reached out to the Receiver asking to file proof of claim forms. Given the limited scope of the Amended Unsold Concentrates Receivership Order (outlined in the earlier status updates), the Receiver does not have any jurisdiction to deal with any of the employees of Minto Metal Corp., or commence any applications under the Wage Earners Protection Program on their behalf. 

Status of file as of July 5, 2023

On July 5, 2023, the Court granted an amended and restated Unsold Concentrates Receivership Order (the "Amended Unsold Concentrates Receivership Order"), which among other things: 

  • Confirmed that all Claims shall attach to the net proceeds of sale from the Unsold Concentrate in the same priority as they had with respect to the Unsold Concentrate immediately prior to the sale;  
  • Confirmed lien claimants ability to take the necessary steps to preserve their rights as lien claimants; and
  • A copy of the Amended Unsold Concentrates Receivership Order can be found under the Court Orders tab. 

Status of file as of June 29, 2023

On June 29, 2023, the Supreme Court of British Columbia (the "Court") granted an Order (the "Unsold Concentrates Receivership Order") appointing PwC as Receiver (the "Receiver") of certain assets of Minto Metals Corp.. The Unsold Concentrates Receivership Order, among other things: 

  • Provides for a Stay of Proceedings against Minto Metals Corp;
  • Appointed PwC as the Receiver of all copper concentrates procured by Minto Metals Corp. which have not yet been sold (the "Unsold Concentrates"); 
  • Authorized and directed the Receiver to sell the Unsold Concentrates, up to 403.3 dry metric tons, to Sumitomo Canada Limited (the "Petitioner");
  • Requires the Receiver to hold the proceeds from the sale of the Unsold Concentrates in the Post-Receivership Account; and
  • Authorised the Petitioner to remove any copper concentrates owned by them from the mine site.  

A copy of the Unsold Concentrates Receivership Order can be found under the Court Orders tab. 

Contact email address to the file: ca_minto_receivership@pwc.com

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