Page last updated: February 20, 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.
At the February 13, 2024 court hearing, the Court granted an order releasing and discharging the Receiver of its duties and obligations under the October 23, 2009 Receivership Order, and further approving the Receiver's and its legal counsel's fees and activities. A copy of the court order can be found under the "Court Orders" tab.
The Receiver made an application to the Court to seek an order discharging the Receiver of its duties and obligations arising under the October 23, 2009 Receivership Order. A hearing was set for February 13, 2024. In support of the hearing, the Receiver issued its Thirteenth and Final Report to the Court dated February 8, 2024, which can be found under the "Receiver's Reports" tab. All related court materials can be found under the "Court Application Materials" tab.
On October 19, 2022, the Receiver filed two applications to the Court for an amendment to the existing Receivership Order, and for the approval of the fees and disbursements of the Receiver and it's legal counsel incurred from December 1, 2021 to September 30, 2022. A hearing was set for November 1, 2022. In support of the hearing, the Receiver issued its Twelfth Report to the Court dated October 19, 2022. A copy of the Report can be found in the “Receiver’s Reports” tab above. At the November 1, 2022 hearing, the Court granted two Orders approving the amendment of the Receivership Order and the approval of the fees and disbursements of the Receiver and it's legal counsel. Copies of the Orders can be found in the “Court Order” tab above.
The Receiver made an application to the Court for an increase in the Receiver’s Borrowings Charge on August 31, 2022. A hearing was set for September 15, 2022. In support of the hearing, the Receiver issued its Eleventh Report to the Court dated August 31, 2022. A copy of the Report can be found in the “Receiver’s Reports” tab above. At the September 15, 2022 hearing, the Court granted an Order approving the increase of the Receiver’s Borrowing Charge from $18.4 million to 20.5 million. A copy of the Order can be found in the “Court Order” tab above.
The Receiver made an application to the Court for an increase in the Receiver’s Borrowings Charge on March 30, 2022. A hearing was set for April 11, 2022. In support of the hearing, the Receiver issued its Ninth Report to the Court dated March 30, 2022. A copy of the Report can be found in the “Receiver’s Reports” tab above.
At the April 11, 2022 hearing, the Court granted an Order approving the increase of the Receiver’s Borrowing Charge from $15.4 million to 18.4 million. A copy of the Order can be found in the “Court Order” tab above.
On March 9, 2022, the Receiver filed with the Court its Receiver’s certificate, certifying that the Almaden Purchase had closed. By operation of the orders granted in respect of the January 2022 hearing, and the filing of the Receiver’s certificate, the Court Registry for the Supreme Court of Yukon was authorized to make public the Almaden sealed documents.
On January 21, 2022 the Court released its Decision in respect of the applications heard on January 12, 2022. A copy of the Decision can be found in the "Court Orders" tab above.
On December 14, 2021, the Court granted an Order approving the increase of the Receiver's Borrowing Charge from $14.5 million to $15.4 million. A copy of the Order can be found in the "Court Order" tab above.
On December 31, 2021 the Receiver made an application to the Court for a number of applications. A hearing was set for January 12, 2022. In support of the January 12, 2022 Court Hearing, the Receiver issued its Eighth Report to the Court dated December 30, 2021. A copy of the Report can be found in the "Receiver's Reports" tab above.
At the January 12, 2022 hearing, the Court reserved its decision. The Receiver will provide an update on its website once the Court releases its decision.
The applications related to the December 1-3, 2021 Court Hearings have been adjourned. Discussions are currently underway with key stakeholders to settle the ongoing applications. Further details will be provided once finalized.
The Receiver made an application to the Court for an increase in the Receiver's Borrowings Charge on December 1, 2021. A hearing was set for December 14, 2021. In support of the December 14, 2021 Court Hearing, the Receiver issued its Seventh Report to the Court dated December 3, 2021. A Copy of the Report can be found in the "Receiver's Reports" tab above.
In respect of the December 1-3, 2021 Court Hearing, the Receiver issued its Supplemental Sixth Report to Court dated November 15, 2021 and its Second Supplemental Sixth Report to Court dated November 22, 2021. A Copy of these Reports can be found in the "Receiver's Reports" tab above.
In support of the December 1-3, 2021 Court Hearing, the Receiver has issued its Sixth Report to the Court dated October 13, 2021. A copy of the Report can be found in the "Receiver's Reports" tab above.
A number of applications are set to be heard at the Supreme Court of Yukon on December 1 and 2, 2021. The Receiver has uploaded all application materials under the “Court Application Materials” tab above. They are summarized as follows:
On August 13, 2021 the Receiver made an application to the Court for an increase in the Receiver’s Borrowings Charge, set to be heard on September 22, 2021. In support of the September 22, 2021 Court Hearing, the Receiver issued its Fifth Report to the Court dated September 10, 2021. A copy of the Report can be found in the “Receiver’s Reports” tab above.
On September 22, 2021 the Court granted an Order approving the increase of the Receiver’s Borrowing Charge from $12.5 million to $14.5 million. A copy of the Order can be found in the “Court Order” tab above.
Welichem and the Yukon Government have both applied to the Supreme Court of Canada for leave to appeal the March 5, 2021 Yukon Court of Appeal Decision. Copies of the applications and other pertinent materials filed by the parties to these appeals can be found here.
The Court granted an Order on April 20, 2021 approving the increase of the
Receiver’s Borrowing Charge from $7.5 million to $12.5 million. A copy of the Order can be found in the “Court Orders” tab above.
PricewaterhouseCoopers Inc., in its capacity as Court-Appointed Receiver of Yukon Zinc Corporation is seeking offers for the assets, undertakings, and property of Yukon Zinc Corporation. A copy of the Sales and Investment Solicitation Process and Investment Teaser are 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_yukon.zinc@pwc.com for more details. The Receiver will be accepting indicative offers from qualified parties until 4:00 pm (Yukon Time), June 14, 2021.
The Receiver has made an application to the Court for an increase in the Receiver’s Borrowings Charge. The hearing has been set for April 14, 2021.
In support of the April 14, 2021 Court Hearing, the Receiver has issued its Fourth Report to the Court dated April 1, 2021. A copy of the Report can be found in the “Receiver’s Reports” tab above.
The Receiver has uploaded all related application materials under the “Court Application Materials” tab above.
On March 5, 2021 The Yukon Court of Appeal released its Decision in respect of the applications heard November 16 and 17, 2021. A copy of the Decision can be found here.
The Court heard the matters noted below on November 17 - 18, 2020. The Court has reserved its decision. The Receiver will provide an update on its website once the Court releases its decision.
Further to the Receiver’s status update of June 26, 2020, a series of appeals have been commenced with respect to the following Orders granted by the Honourable Madam Justice Duncan of the Supreme Court of Yukon which can be found here.
Accordingly, proceedings with respect to the above have been initiated by Welichem in the Yukon Court of Appeal, Proceeding No. 20-YU866, 20-YU867, and No. 20-YU868 and by Yukon in the Court of Appeal of Yukon, Proceeding No. 20-YU865. Copies of the facta and other pertinent materials filed by the parties to these appeals can be found here.
The above appeals are scheduled to be heard on by the Yukon Court of Appeal on November 16 and 17, 2020.
The Court, on June 26, 2020 released its Decisions in respect of the applications heard January 28 - 30, 2020. Copies of the Decisions can be found in the "Court Orders" tab above.
The Court, on May 25, 2020, released its Decisions in respect of the applications heard January 28 – 30, 2020. Copies of the Decisions can be found in the “Court Orders” tab above.
The Court granted an Order on May 11, 2020 approving the increase of the Receiver’s Borrowing Charge from $3 million to $7.5 million. A copy of the Order can be found in the “Court Orders” tab above. The Court’s decision regarding the remainder of the relief sought in the Receiver’s Notice of Application dated March 23, 2020 remains reserved.
The Receiver has issued its Supplemental Third Report to Court. A copy can be found in the “Receiver’s Reports” tab above.
A copy of the March 13, 2020 Case Management Conference Order and all other relevant application materials of the Receiver related to the April 29, 2020 hearing have now been uploaded.
In preparation for the Receiver’s application increase the Receiver’s Borrowing Charge, a Case Management Conference was held on March 13, 2020 before Madam Justice Duncan. The issues of setting down a hearing date and service deadlines were settled.
The hearing is set for 10:00 am on April 29, 2020, at the Supreme Court of Yukon, Whitehorse Courthouse.
In support of the April 29 hearing, the Receiver issued its Third Report to Court on March 23, 2020. A copy of the Receiver’s Third Report can be found under the “Receiver’s Reports” tab above.
A copy of the March 13, 2020 Case Management Conference Order and all other application materials related to the April 29, 2020 hearing will be uploaded upon receipt from the Court.
The Court heard the matters noted below on January 28 – 30, 2020. The Court has reserved its decision. The Receiver will provide an update on its website once the Court releases its decision.
Pursuant to Section 4.7 (a) of RFP# YZC-2019-001, the Receiver has entered into a contract for the performance of environmental monitoring, surveillance and reporting at the Yukon Zinc Wolverine Mine Site.
The Case Management Conference took place on December 13, 2019. The Court has set aside January 28 – 30, 2020 to hear the following matters:
The Receiver has issued its Second Report to Court dated January 16, 2020. A copy of the Receiver’s Second Report can be found under the “Receiver’s Reports” tab above.
The Receiver has uploaded all application materials under the “Court Application Materials” tab above.
The Receiver has filed its Supplemental First Report to Court dated December 12, 2019. A copy of the Report can be found in the “Receiver’s Reports” tab above.
The court hearing set for December 13, 2019 referenced in the Receiver’s First Report to Court has been postponed and has been replaced by a Case Management Conference.
The first meeting of creditors for the Bankruptcy of Yukon Zinc Corporation was held on Thursday October 31, PwC was affirmed as Trustee of the estate. A copy of the Trustee's preliminary report to creditors can be found under the "Bankruptcy Documents" tab.
On July 31, 2019, Yukon Zinc Corporation (the “Company”) filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to section 50.4(1) of the Bankruptcy and Insolvency Act and Alvarez & Marsal Canada Inc. was named as the Proposal Trustee. On August 22, 2019, the Supreme Court of British Columbia granted an order that provided for, among other things, an extension of the initial stay period under the NOI proceedings to make a proposal or apply for further extension from August 30, 2019 to October 7, 2019. Yukon Zinc Corporation did not file a proposal nor did they apply to extend the initial stay period under the NOI proceedings. Therefore, the Company was deemed bankrupt on October 8, 2019 and Alvarez and Marsal was appointed Trustee in Bankruptcy. PwC was substituted in place of Alvarez and Marsal as Trustee on October 11, 2019 by Order of the Supreme Court of British Columbia. Copies of the Court Order, Certificate of Assignment and Creditor Communications can be found under the “Bankruptcy Documents” tab.
On September 13, 2019, the Supreme Court of Yukon granted an Order appointing PricewaterhouseCoopers Inc. ("PwC") as Receiver (the "Receiver") of the assets, undertakings, and property of Yukon Zinc Corporation ("YZC"), including YZC's Wolverine Mine. The purpose of the receivership is to stabilize and run a sale process for YZC's assets, including the Wolverine Mine.
The Receiver is in the process of developing a sale and investment process and will be making an application to the Court shortly for approval of that process.
The Receiver will update this website regularly. All relevant documents relating to Court Orders, application materials, creditor communication, and the sale process will be uploaded to the Receiver's website.