Dominion diamond insolvency Aether. Credentials Education. > December 2024 Commentary: Rough barely traded in Q4 as major diamond miners across the globe have aggressively reigned in supply in an effort to support market dynamics, 203 likes, 0 comments - rapaportgroup on April 26, 2020: "Dominion Diamond Mines has filed for and received insolvency protection in Canada. To order, please email or call +1-917-806-4555. just as we continue to protect Diavik’s interests in Dominion’s insolvency proceedings. com Additionally, on April 22, 2020 Dominion filed for insolvency protection under the Companies’ Creditors Arrangement Act (CCAA). — its 60 per cent partner in the Diavik diamond mine in the Northwest Territories — of managing the mine to the benefit of its majority owner, Rio Tinto, and to the detriment of Dominion. About Arctic Canadian Diamond Company Ltd. Dominion, which was purchased by The Washington Companies in 2017 for $1. P ast issues of State of the Diamond Market are available for purchase for US$95 each. Dominion Diamond Mines ULC is a Canadian mining company and one of the world’s In April 2020 Dominion Diamond Mines ULC (Dominion) filed for insolvency protection under the Companies’ Creditors Arrangement Act. According to the release, the company and some of its Amid the global disruptions to the diamond industry resulting from the Covid-19 pandemic, DDMI has maintained full operations at Diavik with the knowledge that Dominion can't pay for the cash calls, the lawsuit claims. CULTIVAR INFO. According to the release, the company and some On February 3, 2021, Arctic Canadian Diamond Company Ltd. Bankruptcy and Insolvency Faillite et insolvabilité The Dominion Diamond Corp stock price today is 18. The filed action was made Struggling miner Dominion Diamond Mines, which filed for insolvency protection last month, has reached an agreement to sell substantially all its assets in a transaction that will allow mining Dominion Diamond Mines ULC 900-606 4 Street SW (403) 910-1933 Calgary, Alberta T2P1T1 (403) 910-1934 fax www. Click link in bio for more . On April 22, 2020, Dominion Diamond Mines ULC and certain of its affiliates (collectively, “Dominion”) filed for insolvency protection under the Companies’ Creditors Arrangement Act (“CCAA”), obtaining an order from the Alberta Court of Queen’s Bench (the “Court”) granting Dominion protection under the CCAA. Workers and their union are demanding that the pension obligations LEGAL_1:60606078. https://t. DD intends to use the CCAA process to evaluate strategic alternatives to ARRANGEMENT OF DOMINION DIAMOND MINES ULC, DOMINION DIAMOND DELAWARE COMPANY, LLC, DOMINION DIAMOND CANADA ULC, WASHINGTON DIAMOND INVESTMENTS, LLC, DOMINION DIAMOND insolvency of the Dominion Vendors, the commencement of these CCAA proceedings, or the failure to perform a non-monetary Dominion Diamond understands and embraces the inclusion of TK alongside science in Project planning and design, and will continue to work with TK holders in future Project activities and monitoring programs. It supplies rough diamonds to the global market through its sorting and selling operations in Canada, Belgium, and India. Dominion filed for insolvency protection on April 22. CALGARY, Alberta — Dominion Diamond Mines ULC announced today that it and certain of its affiliates (collectively, “Dominion” or the “Company”) have filed for inso Skip to Content LIMITED-TIME SALE! The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines ULC filing for insolvency protection under the Canadian Companies’ Creditors Arrangement Act. Protection of Insolvency Practitioners and Pension Plan Issues in Insolvency Proceedings: 2007 Year in Review, National Debtor Review (Volume 23, No. Dominion Diamond Mines ULC is a Canadian mining company and one of the world’s Dominion Diamond Mines, which operates the Ekati and Diavid Mines in the NWT, has filed for insolvency protection according to a news story today from the Financial Post. In 2011, a major milestone was reached when the Ekati It is owned by a joint venture between Dominion Diamond and Rio Tinto. Credit Suisse in its capacity as agent for the first lien lenders to Dominion Diamond Mines ULC. Insolvency protection granted largest diamond mine in NWT . and filed for insolvency protection in April. S. Dominion Diamond Mines has been granted a reprieve after filing for insolvency protection, the company announced Wednesday in a press release. It also provides assurance that Ekati will (IDEX Online) Canada's troubled Dominion Diamond Mines has been granted insolvency protection, a month after closing its Ekati mine to prevent the spread of coronavirus. 2 billion ($820 million) to banks and other creditors, according to a court document it filed as part of its insolvency petition. Rio Tinto owns 60% of Diavik (pictured), based in Canada’s Northwest Territories. Canada’s Dominion Diamond Files for Protection From Creditors. The company operates the Ekati Diamond Mine, in which it owns a controlling interest, and also owns 40% of the Diavik Diamond Mine. G-Rind. Canadian mining giant Dominion Diamond Corporation has been acquired by Washington Companies for $1. W. LLC. Dominion Diamond said Dec. economy — from barbers and DOMINION DIAMOND (INDIA) PRIVATE LIMITED: Process Initiated: Voluntary Liquidation: Sector of business of CD: MINING OF METAL ORES This is the Official Website of the Insolvency and Bankruptcy Board of India designed and developed by IBBI & hosted by National Informatics Centre (NIC). Junction Craft Brewing: November 8, 2021 Sale Process Order 12. But last year, Dominion, which had been purchased by Washington Companies in 2017, filed for insolvency protection under Canada’s Companies’ Creditors Arrangement Act. The filed action was made Agreement between Dominion Diamond Mines ULC, Dominion Diamond Holdings LLC and Dominion Marketing Corporation, as vendors, their parent, Washington Diamond Investments insolvency. Dominion Diamond owes its creditors $550 million. As previously announced, on April 22, 2020, Dominion filed for insolvency protection under the Companies’ Creditors Arrangement Act (“CCAA”) and obtained an order from the Court granting Dominion protection under the CCAA pursuant to an order from the Court. Dominion Diamond Mines, which operates the Ekati and Diavid Mines in the NWT, has filed for insolvency protection according to a news story today from the Financial Post. A part of this process was searching for a new buyer for the mine. Rio Tinto's 40% partner in arrangement of dominion diamond mines ulc, dominion diamond delaware company llc, dominion diamond canada ulc, washington diamond investments, llc, dominion diamond bankruptcy and insolvency judicial centre calgary applicants in the matter of the companies' creditors arrangement act, r. Tidal Health Solutions Ltd. Chi-Chi's. As ore mines ramp up and come on stream, the total number of active surface machines (including trucks, excavators, shovels, loaders In a deal that bolsters certainty for the future of the Diavik Mine and Northwest Territories' economy, Rio Tinto has acquired full ownership of this iconic diamond operation in Canada's Arctic. Brookfield Capital Partners Ltd. Kelsey specializes in complex commercial disputes, with a focus on bankruptcy, insolvency, and restructuring matters. The story of Dominion begins with treasure. November 20, 2020 RVO 10. Dominion Diamond Mines ULC 900-606 4 Street SW (403) 910-1933 Calgary, Alberta T2P1T1 (403) 910-1934 fax www. Dominion Diamond Mines has been granted a protection order after filing for insolvency protection, the company announced Wednesday in a press release. She has been elected as a Bencher of the Law Society of Alberta for a three-year term commencing February 29, 2024. This sale follows the filing of insolvency protection by Dominion Diamond Mines under the Canadian Companies’ Creditors Arrangement Act in April 2020. Under the terms of the transaction, Rio Tinto has acquired all remaining Diavik assets held by Dominion, including unsold Diavik production and cash The ratings reflect Dominion Diamond Holdings' (DD) announcement that the company filed for insolvency protection under the Companies' Creditors Arrangement Act (CCAA) and obtained an order from the Court of Queen's Bench of Alberta granting protection under the CCAA. Dominion filed for insolvency protection in April, citing the disruption COVID-19 caused to the diamond market. Despite being one of Dominion Diamond Mines has filed for and received insolvency protection, a month after suspending operations at its Ekati deposit in Canada due to the coronavirus pandemic. Article Tags: Read stories listed under on dominion diamonds. 18, Dominion Diamond Mines said it sold $46-million US worth ($61. (“Arctic”), a company formed and owned by funds and accounts managed by DDJ Capital Management (“DDJ”), Brigade Capital Management, LP (“Brigade”) and Western Asset Management Company, LLC (“Western Asset”), announced that it completed the acquisition of the Ekati Diamond Mine As previously announced, on April 22, 2020, Dominion filed for insolvency protection under the Companies’ Creditors Arrangement Act (“CCAA”) and obtained an order from the Alberta Court of Queen’s Bench (the “Court”) granting Dominion protection under the CCAA pursuant to an order from the CCAA Court. c-36, as amended and in the matter of a plan of compromise or arrangement of dominion diamond mines ulc, dominion diamond delaware company llc, dominion diamond canada ulc, washington As previously announced, on April 22 Dominion filed for insolvency protection under the Companies’ Creditors Arrangement Act (“CCAA”) and obtained an order from the Alberta Court of Queen Dominion Diamond Mines has sued joint-venture partner Rio Tinto, alleging that the mining giant breached the agreement by failing to control costs at the Diavik deposit in Canada. In April 2020, Dominion Diamonds filed for insolvency protection under the Canadian Companies’ Creditors Arrangement Act. The troubled Canadian company, which has been in creditor protection since April , has reached an agreement with The Washington Companies, which will acquire its assets for $126 m and assume responsibility for most of operating liabilities. , lenders to Stelco Inc. Credit The future of the Ekati diamond mine in Canada’s Northwest Territories remains uncertain after Dominion Diamond Mines announced that a deal to sell it to a subsidiary owned by its News June 17, 2020 Dominion Diamond Mines ULC 900-606 4 Street SW (403) 910-1933 Calgary, Alberta T2P1T1 (403) 910-1934 fax www. The filed action was made In April, Dominion Diamond Mines filed for insolvency protection. But it may have the most riding on its success or failure — the economic future of the Northwest Territories. Sidebar Ad Box 2 The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines ULC filing for insolvency protection under the Canadian Companies’ Creditors Arrangement Act. Rio, which already owned 60% of the Diavik mine, said Thursday it had bought the share previously held by Dominion Diamond Mines. Dominion Diamond Mines has been granted a protection order by the province of Alberta after filing for insolvency protection. North End Punch. T. on July 4, which gave the Australian diamond company full ownership of the world-class Ekati Mine and significantly elevating its efforts to deliver high-end cut and polished diamonds Rio Tinto had traditionally owned 60% of the mine and operated it; until recently, Dominion Diamond Mines owned the other 40%. The company—which owns the Northwest Territories, Canada–based Ekati mine, as well as 40% of nearby Diavik—filed a petition for insolvency protection on Wednesday. com December 18, 2020 production activities at the Ekati Diamond Mine. Ordinarily, Companies’ Creditors Arrangement Act record for Limited Dominion Diamond Mines ULC, Dominion Diamond Delaware Company, LLC, Dominion Diamond Canada ULC, Washington Dominion Diamond Mines, which owns the Ekati mine as well as a part of the Diavik mine, has filed for insolvency protection Dominion Diamond Mines has been granted a reprieve after filing for insolvency protection, the company announced Wednesday in a press release. Citing closed diamond markets in light of the COVID-19 pandemic, Dominion Diamonds Mines has sought and received insolvency protection under the Companies' Dominion Diamond Mines, a Calgary, Alberta-based diamond mining company with ownership interests in two large diamond mines in the Northwest Territories, filed for protection Dominion Diamond Mines’ decision to file for insolvency protection has opened up hundreds of pages of documents exposing the inner workings of the company. Bankruptcy and Insolvency . What happens next is critical. 7 carats, which was also discovered at Diavik in 2015. 2 (January 2003) 12. Join Today! ABI Store. Under the terms of the transaction, Rio Tinto has acquired all remaining Diavik assets held by Dominion, including unsold Diavik production and cash London—Dominion Diamond Mines announced Thursday it has filed for and was granted insolvency protection under the Companies’ Creditors Arrangement Act (CCAA) in Canada. , in its CCAA proceedings. Rio Tinto operated the mine significantly over budget despite missing production targets, contributing to Dominion’s Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (“Dominion” or the “Company”) and The Washington Companies (“Washington”), a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. For the past several months, Dominion has been engaged in a sales and investment process Dominion Diamond Mines ULC said on Monday it reached a deal to sell its Ekati mine in Canada's Northwest Territories to holders of its second lien notes, eight months after seeking bankruptcy The announcement of the proposed sale comes a little more than two years after Calgary-based Arctic Canadian bought Ekati from Dominion Diamond Mines, which had filed for insolvency protection. On April 22, 2020, Dominion filed for Dominion Diamond Mines files for insolvency protection: In March 2020, Dominion suspended operations at the Ekati mine in response to the pandemic. and CA Canadian Diamond Mines ULC (the “Purchaser”), affiliates of Execution Copy AMENDED AND RESTATED INTERIM FINANCING TERM SHEET Dominion Diamond Mines ULC Dated as of June 15, 2020 WHEREAS the Borrower has requested that the Interim Lenders provide financing to the Borrower during the pendency of the Borrower’s proceedings (the “CCAA Proceedings”) under the Companies’ Creditors Arrangement Act Dominion was granted insolvency protection the following month, citing the disruption COVID-19 caused to the global diamond market. 2 billion, was once the world’s fourth largest diamond producer. (formerly Dominion Diamond Mines) In an affidavit filed with the Court of Queen's Bench in Calgary on Sept. Article content. http://ow. on July 4, which gave the Australian diamond company full ownership of the world-class Ekati Mine and significantly elevating its efforts to deliver high-end cut and polished diamonds On Tuesday, Dominion Diamond filed a suit against Rio Tinto, its longtime partner in the Diavik Diamond Mine, over Rio’s management of the project—the latest sign of the tension between the two partners that has surfaced following Dominion’s April insolvency filing. Represents a secured creditor and Critical Supplier in the CCAA proceedings of Dominion Diamond ‎Mines; bankruptcy and insolvency judicial centre calgary applicants in the matter of the companies' creditors arrangement act, r. Rio Tinto owns the other 60%, and it As previously announced, on April 22, 2020, Dominion filed for insolvency protection under the Companies’ Creditors Arrangement Act (“CCAA”) and obtained an order from the Alberta Court of Queen’s Bench (the “Court”) granting Dominion protection under the CCAA pursuant to an order from the CCAA Court. com 15 January 2018 Mavis Cli-Michaud, Chair Mackenzie Valley Land and Water Board 4922 - 48th Street P. Dominion Diamond Mines, owner of Ekati mine, roughly 300 km northwest of Yellowknife and a 40 per cent partner in neighbouring mine Diavik, has filed for A Canadian court has ordered the Rio Tinto subsidiary that manages the Diavik mine to release inventory belonging to Dominion Diamond Mines it had been holding as a guarantee for missed payments. Burgundy is publicly traded on the Australian Stock Exchange (ASX:BDM) and is the parent Dominion Diamond Mines files for insolvency protection: Dominion Diamond Mines (DDM) has been under insolvency protection of the Companies' Creditors Arrangement Act (CCAA) since April 22. 5 years ago By Charlotte Morritt-Jacobs (NWT’s Ekati diamond mine shut down production on March 20. Photos. It supplies rough diamonds to the global market from its operation of the Ekati Diamond Mine (in How do job seekers rate their interview experience at Dominion Diamond Mines? 100% of job seekers rate their interview experience at Dominion Diamond Mines as positive. VENDORS. The filed action was made Dominion Diamond Mines has been granted a protection order by the province of Alberta after filing for insolvency protection. Additionally, on April 22, 2020 Dominion filed for insolvency protection under the Companies’ Creditors Arrangement Act (CCAA). The two second-lien lenders agreed to provide Dominion with a $70 million working capital facility and to assume Ekati’s liabilities to creditors, employees, Dominion Diamond Mines, which operates the Ekati and Diavid Mines in the NWT, has filed for insolvency protection according to a news story today from the Financial Post. At the time of filing, Dominion had and insolvency calgary in the matter of the companies' creditors arrangement act, r. Quinsam Coal Corporation, 2020 BCSC 640 16 Dominion Diamond Mines ULC v. The Calgary-based company is speaking to lenders, creditors, equity owner and other stakeholders to "solicit and evaluate strategic alternatives to restructure the company financially and operationally. Credit Suisse AG Dominion Diamond Mines. Dominion Diamonds files for insolvency protection. The sale will leave Dominion with the nearby Diavik mine, which is owned jointly with Rio Tinto. The Ekati Diamond Mine officially began operations in 1998, and prior to its acquisition by the Filer, was operated by BHP as a part of the BHP Billiton group. In the case of members working for Dominion Diamond Mines in the Northwest Territories, there was a successful restructuring of the company, and the defined benefit pension plan continued intact. Social Media:- Subscribe Us Manage your newsletter Located at 1102-4920 52 St in Yellowknife, Northwest Territories, Dominion Diamond Ekati Corporation is a company part of the mining companies category of Canpages website. LIMITED-TIME SALE! Unlimited access for only $3 for 3 months. On Sept. Counsel to Dumas Holdings Inc. The filed action was made Dominion Diamond Mines has filed for and received insolvency protection in Canada. s. Credit Suisse AG, Caymen Islands Branch, was named agent for the first lien lenders to Dominion. On April 21, 2021, Dominion Diamond Mines ULC was granted protection under the Companies bankruptcy and insolvency judicial centre calgary applicants in the matter of the companies' creditors arrangement act, r. Dominion owns the Ekati mine in Canada’s Northwest Territories (pictured), as well as 40% of the nearby Diavik mine. The lawsuit comes almost two months after the financially-troubled Dominion filed for insolvency. What Is the Stock Symbol for Dominion Diamond Corp? The stock symbol for Dominion Diamond Corp is "DDC. VIEW MORE VIEW LESS. ” A plan to sell Dominion’s assets to its parent company, the Washington group, is still moving through the The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines ULC filing for insolvency protection under the Canadian Companies’ Creditors Arrangement Act. Dumas Holdings Inc. Partner, Disputes | Insolvency and Restructuring, Montréal Emily Lynch. Dominion Diamond Mines ULC (“Dominion” or the “Company”) announced today that it has signed a letter of intent As previously announced, on April 22 Dominion filed for insolvency bankruptcy and insolvency judicial centre calgary applicants in the matter of the companies' creditors arrangement act, r. c-36, as amended and in the matter of a plan of compromise or arrangement of dominion diamond mines ulc, dominion diamond delaware company llc, dominion diamond canada ulc, washington diamond investments, llc Dominion Diamond Mines, which operates the Ekati and Diavik Mines in the NWT, has filed for insolvency protection according to a news story today from the Financial Post. 2. Dominion Diamond: 9. Information on a subscription can be found here. Dominion Seed Company. Diavik Diamond Mines (2012) Inc. FREE SHIPPING with code FREESHIPPING. June 8, 2021 RVO 11. co/87ZFfv89U1 #STPLSurat #STPLnews Visit Dominion filed for insolvency protection on April 22 under the Companies’ Creditors Arrangement Act (CCAA) and obtained an order from the Alberta Court of Queen’s Bench granting Dominion protection under the CCAA pursuant to an order from the CCAA Court. The company was granted protection from its creditors under the Companies’ Creditors Arrangement Act (CCAA) while it restructures, it said Wednesday. Rio Tinto operated the mine significantly over budget despite missing production targets, contributing to Dominion’s CALGARY, Alberta--(BUSINESS WIRE)--Dominion Diamond Mines ULC announced today that it and certain of its affiliates (collectively, “Dominion” or the “Company”) have filed for insolvency The sale comes after a turbulent 11 months for Dominion Diamond Mines, after it suspended operations at Ekati in March 2020 to protect employees and communities from the Covid-19 pandemic. 1, March 2008). Dominion Diamond Mines, owner of the NWT’s Ekati mine and major stakeholder in its neighbour, Diavik, has filed for insolvency protection. Cli-Michaud: Already a 40% partner with North Arrow Minerals Inc. The company operates the Ekati Diamond Mine, where it holds a controlling interest, and is involved in diamond exploration and project evaluation P ast issues of State of the Diamond Market are available for purchase for US$95 each. It supplies rough diamonds to the global market through its sorting and selling operations in Canada, Belgium Dominion’s potential insolvency would touch not only employees but contractors and other businesses that work with Dominion and the government and Indigenous groups that were receiving impact benefits. Under the terms of the transaction, Rio Tinto has acquired all remaining Diavik assets held by Dominion, including unsold Diavik production and cash Burgundy Diamond Mines Logo. Ltd. It has hit all sectors of the N. Friday, April 24, 2020. Finally, please send this to your friends by accessing Facebook or Twitter links. However, in the case of the Northern Transportation Company Ltd. The Washington Companies are a group of privately held companies headquartered throughout the United States and affiliates of The Washington Companies in connection with their provision of a $55 million interim financing facility in connection with Dominion Diamond Mines’ Canadian insolvency proceedings ; Triangle USA Petroleum Corporation in its Chapter 11 restructuring ARRANGEMENT OF DOMINION DIAMOND MINES ULC, DOMINION DIAMOND DELAWARE COMPANY, LLC, DOMINION DIAMOND CANADA ULC, WASHINGTON DIAMOND INVESTMENTS, LLC, DOMINION DIAMOND insolvency of the Dominion Vendors, the commencement of these CCAA proceedings, or the failure to perform a non-monetary Read stories listed under on dominion diamonds. 5 . The Company is focused on the mining and marketing of rough diamonds to the global market. c-36, as amended and in the matter of a plan of compromise or arrangement of dominion diamond mines ulc, dominion diamond delaware company llc, dominion diamond canada ulc, washington Rio Tinto acquired 40 per cent of the shares held by Dominion after the transaction was recently approved by the Court of Queen’s Bench of Alberta, when the latter filed for insolvency protection in April last year under the Canadian Companies’ Creditors Arrangement Act. Supplied photo) The future of Sidebar Social Icons. c-36, as amended Insolvency and Restructuring. Washington has agreed to buy all shares in Dominion for $14. 1. 2 Rio Tinto – on its joint venture interest in the Diavik diamond mine in the Northwest Territories as part of the CCAA insolvency process for Dominion Diamond; Nemaska Lithium – on its CCAA insolvency and sale and investor solicitation process; Deal Capabilities: M&A Advisory – our team of results-driven lawyers have market-leading The Filer's indirect wholly-owned subsidiary, Dominion Diamond Ekati Corporation, is the operator of the Ekati Diamond Mine. c-36, as amended and in the matter of a plan of compromise or arrangement of dominion diamond mines ulc, dominion diamond delaware company llc, dominion diamond canada ulc, washington diamond investments, llc Rapaport: Dominion Diamond Mines has filed for and received insolvency protection in Canada. , the Canadian mining company that filed for insolvency protection on April 22, has asked a Canadian court to stay its financial obligations for another month as the company weighs its options. Your one stop shop for Dominion gear. The transaction comes after a 19-month process triggered in April 2020 by former partner Dominion Diamond Mines filing for insolvency protection under the Canadian Companies' Creditors Arrangement The Washington Companies-owned miner filed for insolvency protection under Canada's Companies' Creditors Arrangement Act in April, citing disruption to the global diamond market caused by the The fate of Canadian diamond mine Diavik (pictured) is currently “at risk” due to the continued insolvency of junior partner Dominion Diamond Mines, according to a recent court filing from its majority owner, Rio Tinto. According to the release, Dominion Diamond Mines, which operates the Ekati diamond mine and is a minority owner Diavik Diamond Mine, has filed for insolvency protection according to a Dominion Diamond Mines has filed for insolvency protection under the Companies’ Creditors Arrangement Act (CCAA) and obtained an order from the Alberta Court of Queen’s Bench granting Dominion protection. Dominion initiated a 10-week phased restart in Nov. (IDEX Online) - Dominion Diamond Mines, which filed for insolvency in April, has sold its Ekati mine, in Canada after receiving a solitary bid. Dominion Diamond Mines. Credit agencies are skeptical that it would actually pay this off. 2 million Cdn) of diamonds The fate of Canadian diamond mine Diavik (pictured) is currently “at risk” due to the continued insolvency of junior partner Dominion Diamond Mines, according to a recent Dominion Diamond Mines’ recent filing for protection from insolvency has sparked tension between that company and Rio Tinto, its longtime partner in the Diavik diamond mine In a deal that bolsters certainty for the future of the Diavik Mine and Northwest Territories' economy, Rio Tinto has acquired full ownership of this iconic diamond operation in CALGARY, Alberta—Dominion Diamond Mines ULC announced today that it and certain of its affiliates (collectively, “Dominion” or the “Company”) have filed for insolvency protection under On Tuesday, Dominion Diamond filed a suit against Rio Tinto, its longtime partner in the Diavik Diamond Mine, over Rio’s management of the project—the latest sign of the The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines ULC filing for insolvency protection under the Canadian Companies’ Dominion Diamond Mines is suing its partner at the NWT’s Diavik mine, DDMI, alleging breach of contract and breach of fiduciary duty. The filed action was made Dominion Diamond Mines has filed a lawsuit accusing Diavik Diamond Mines (2012) Inc. (“Arctic”), a company formed and owned by funds and accounts managed by DDJ Capital Management (“DDJ”), Brigade Capital Management, LP (“Brigade”) and Western Asset Management Company, LLC (“Western Asset”), announced that it completed the acquisition of the Ekati Diamond Mine As previously announced, on April 22, 2020, Dominion filed for insolvency protection under the Companies’ Creditors Arrangement Act (“CCAA”) and obtained an order from the Alberta Court of Kelsey Meyer is a Partner in Bennett Jones LLP's Litigation Department, and is the Co-Head of the firm's Restructuring and Insolvency practice group. Credit . Cli-Michaud: Dominion, the world's third largest diamond producer by market value, has been looking for a CEO since January when its former head, Brendan Bell, quit. Under the terms of the transaction, Rio Tinto acquired all remaining Diavik assets held by Dominion, including unsold Diavik production and cash collateral held as Washington Agrees to Provide up to $60 Million in New Financing to Dominion. Local Skunk F3. top of page. Candidates give an average difficulty score of 3 out of 5 (where 5 is the highest level of difficulty) for their job interview at Dominion Diamond Mines. , a company formed and owned by funds and accounts managed by DDJ Capital Management, Brigade Capital Management LP and Western Asset Management Co. COURT FILE NUMBER 2001-05630 COURT COURT OF QUEEN'S BENCH OF ALBERTA JUDICIAL CENTRE CALGARY APPLICANTS IN THE MATTER OF THE COMPANIES' CREDITORS ARRANGEMENT Dominion Diamond Mines, owner of Ekati mine, roughly 300 km northwest of Yellowknife and a 40 per cent partner in neighbouring mine Diavik, has filed for creditor protection. Compare pay for popular roles and read about the team’s work-life balance. c. 26, the company reported that it had received a purchasing offer of US$146 million related to its shuttered Ekati mine. Dominion Diamond is only the latest of the many businesses and people caught in the economic fallout of the COVID-19 pandemic. Sidebar Ad Box 1. (“Arctic”), a company formed and owned by funds and accounts managed by DDJ Capital Management (“DDJ”), Brigade Capital Management, LP (“Brigade”) and Western Asset Management Company, LLC (“Western Asset”), announced that it completed the acquisition of the Ekati Diamond Mine Dominion Diamond Mines owes a combined CAD 1. The company announced Thursday it has completed a transaction to acquire Dominion Diamond Mine's 40 per cent share of The insolvency order obtained in late April by Dominion Diamond Mines threatens the future of the Diavik deposit as it exempts the 40% shareholder from paying for its upkeep, according to a court filing by Diavik Diamond Mines (DDMI), a subsidiary of Rio Tinto. That bill is due in 2022. , 2020 BCSC 1509 17 Lydian International Limited (Re), 2020 ONSC 4006 18 Dominion Diamond Mines ULC 900-606 4 Street SW (403) 910-1933 Calgary, Alberta T2P1T1 (403) 910-1934 fax www. The filed action was made Dominion Diamond Mines, which operates the Ekati and Diavid Mines in the NWT, has filed for insolvency protection according to a news story today from the Financial Post. " Dominion Chief Financial Officer Kristal Kaye said the sale significantly reduces the miner’s debt obligations while providing sufficient liquidity to fund operations and invest in future growth. The filed action was made On February 3, 2021, Arctic Canadian Diamond Company Ltd. at the Naujaat diamond project in Nunavut, Burgundy closed its buyout of Arctic Canadian Diamond Company Ltd. Act Now>> LIMITED-TIME SALE! Unlimited access for only $3 for 3 months. (Insolvency & Restructuring), Emily Paplawski (Litigation), Alan Hutchison (Corporate), Jacqueline Code and Mary Angela Rowe (Research), Joyce Bernasek and Yasir Samad (Banking & Financial Services). " What Stock Exchange Does Dominion Diamond Corp Trade On? Dominion Diamond Corp is listed and trades on the Toronto stock exchange. On April 21, 2021, Dominion Diamond Mines ULC was granted protection under the Companies’ Creditors Arrangement Act. The filed action was made bankruptcy and insolvency judicial centre calgary applicants in the matter of the companies' creditors arrangement act, r. The company is a subsidiary of The Washington Cos. According to a news Dominion Diamond Mines, which operates the Ekati and Diavid Mines in the NWT, has filed for insolvency protection according to a news story today from the Financial Post. Prior to the sale, the mine was owned by Calgary-based Arctic Canadian for the last two years, and before that, Dominion Diamond Mines, who filed for insolvency protection. Pier 1 Imports Inc. According to a news release from April 22, Dominion Diamonds, one of the world's largest rough diamond producers, and most important employers in the Northwest Territories, is in serious trouble. For the past several Dominion Diamond Mines ULC Diamond 900-606 4 Street SW (403) 910-1933 Calgary, Alberta T2P 1T1 (403) 910-1934 fax www. c-36, as amended and in the matter of a plan of compromise or arrangement of dominion diamond mines ulc, dominion diamond delaware company llc, dominion diamond canada ulc, washington “We remain focused on managing the mine safely just as we continue to protect Diavik’s interests in Dominion’s insolvency proceedings and the jobs of the more than 1,120 people who work at The transaction comes after a 19-month process triggered in April 2020 by former partner Dominion Diamond Mines filing for insolvency protection under the Canadian Companies' Creditors Arrangement The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines filing for insolvency protection under the Canadian Companies’ Creditors Arrangement Act On February 3, 2021, Arctic Canadian Diamond Company Ltd. Uncover why Dominion Diamond Ekati is the best company for you. c-36, as amended and in the matter of a plan of compromise or arrangement of dominion diamond mines ulc, dominion diamond delaware company llc, dominion diamond canada ulc, washington diamond investments, llc, dominion diamond holdings, llc and bankruptcy and insolvency judicial centre calgary applicants in the matter of the companies' creditors arrangement act, r. Value- Dominion Diamond owes its creditors $550 million. On April 22, 2020, Dominion filed for insolvency protection under the companies’ Creditors Arrangement Act (CCAA) and obtained an order from the court granting Dominion protection under the CCAA pursuant to an (IDEX Online) - Dominion Diamond Mines is to sell its assets to avoid bankruptcy, recall is furloughed workers and resume operations. Join Today and Benefit Daily from ABI's 35+ Years of Insolvency Expertise. Blakes assisted Dominion by obtaining insolvency protection, allowing time to find a solution to restructure and save the business. OVERVIEW 1. Members. Dominion Diamond Mines, also known as Arctic Canadian Diamond Company Ltd. The crash . 7 million in cash and 4780 carats of diamonds in inventory at Mothae BHP Billiton sold the EKATI Diamond Mine in the Northwest Territories, and its related marketing business in Antwerp, to Dominion Diamond Corporation (formerly Harry Winston Diamond Corporation) for aggregate cash consideration of US$500 million. The miner filed for insolvency in April. Login. Sidebar Ad Box 2 Dominion Diamond Corp. Dominion said it believes the proposed sale ensures it will be able to resume mining operations at the Ekati diamond mine in the Northwest Territories and recall its furloughed workers as the spread of COVID-19 subsides and diamond markets reopen. About Dominion Diamond Mines. The privately held Montana-based conglomerate bought Dominion for $1. The company said the find "far surpasses" the previous record, at 187. The Company's Flawed Sale Process The Hoff Affidavit detailed the Committee's concerns regarding the Company's proposed sale Credit: Dominion Diamond Corporation . The new operator is Arctic Canadian Diamond Company Ltd. in connection with the receivership proceedings of the Tercon Group . 2. Find out what works well at Dominion Diamond Ekati from the people who know best. Insolvency and Restructuring. 2 min read Credit: Dominion Diamond Corporation . O Box 2130, Yellowknife, NT X1A 2P6 Dear Ms. Associate, Disputes, Montréal Credit Suisse in its capacity as agent for the first lien lenders to Dominion Diamond Mines ULC. Dial 867-669-6100 to get in touch with Dominion Diamond Ekati Corporation that is in your neighbourhood. ’s ("DDMI") application for: (a) an amendment to paragraph 16 of the Second and Amended Restated Initial Order Dominion Diamond Mines has completed the sale of the Ekati Mine and associated assets to Arctic Canadian Diamond Company Ltd. cross-border restructurings over the past 25 years and have been involved as Canadian The insolvency order obtained in late April by Dominion Diamond Mines threatens the future of the Diavik deposit as it exempts the 40% shareholder from paying for its upkeep, according to a court filing by Diavik Diamond Mines (DDMI), a subsidiary of Rio Tinto. While a large portion is due to businesses in the Northwest Territories, where Dominion operates its As previously announced, on April 22, 2020, Dominion filed for insolvency protection under the Companies’ Creditors Arrangement Act (“CCAA”) and obtained an order from the Alberta Court of Credit Suisse AG in its capacity as agent for the first lien lenders to Dominion Diamond Mines ULC; ABQB 742, Insolvency News Volume 18, No. Last month Dominion agreed to a $1. The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines ULC filing for insolvency protection under the Canadian Companies’ Creditors Arrangement Act. Home; News; Photos. CALGARY, Alberta — Dominion Diamond Mines ULC (“Dominion” or the “Company”) provided an update today on its previously announced sales and investment solicitation process and the stalking horse bid (the “Stalking Horse Bid”) submitted by Canadian Diamond Holdings, L. ly/sjbk50zmrQI Dominion Diamond Mines, which operates the Ekati and Diavid Mines in the NWT, has filed for insolvency protection according to a news story today from the Financial Post. We have one of the largest, most experienced and most active insolvency, bankruptcy and restructuring practices in Canada, covering the entire range of insolvency and restructuring, acting for creditors and debtors. Get the inside scoop on jobs, salaries, top office locations, and CEO insights. . At the time of filing, Dominion had Dominion Diamond Mines ULC is a Calgary based diamond mining company and is one of the largest employers in the Northwest Territories. Burgundy Diamond Mines Limited is an end-to-end global diamond company that delivers gem-quality diamonds from its cornerstone asset Ekati Diamond Mine through rough sales to its polished and cut diamond sales office in Perth, Australia. An earlier deal to sell Ekati to affiliates of its current owner, The Washington Companies, fell through this fall over the objections of Dominion’s insurers. 2020, the release said, and returned to full Credit Suisse in its capacity as agent for the first lien lenders to Dominion Diamond Mines ULC. 6MiLL. One of its two Dominion Diamond Mines, which owns the Ekati mine in Canada’s Northwest Territories (pictured) as well as 40% of the Diavik mine, has filed for insolvency protection More than three years after several employees at the Ekati diamond mine were fired without cause, an adjudicator has ruled that the mine’s former owner doesn’t owe them In an affidavit filed with the Court of Queen's Bench in Calgary on Sept. c-36, as amended and in the matter of a plan of compromise or arrangement of dominion diamond mines ulc, dominion diamond delaware company, llc, dominion diamond canada ulc, washington diamond investments, llc <p>Dominion Diamond Mines has agreed to sell the Ekati diamond mine in Canada’s Northwest Territories to two company bondholders, DDJ Capital Management and Brigade Capital Management. c-36, as amended and in the matter of a plan of compromise or arrangement of dominion diamond mines ulc, dominion diamond delaware company llc, dominion diamond canada ulc, washington Already a 40% partner with North Arrow Minerals Inc. In February 2021 Dominion sold the Ekati mine. Washington, today announced the completion of the previously Dominion Diamond is a company that produces and provides rough diamond assortments to the global market. Dominion Diamond Reaches Deal to Sell Ekati Mine in Canada. Our lawyers have played significant roles in most major Canadian and U. The civil lawsuit, filed Tuesday with the Supreme Court of British Columbia (where That’s the problem facing Dominion Diamond Mines, according to an affidavit from Kristal Kaye, its chief financial officer. Dominion Diamond Mines has filed for and received insolvency protection, a month after suspending operations at its Ekati deposit in Canada due to the coronavirus pandemic. > December 2024 Commentary: Rough barely traded in Q4 as major diamond miners across the globe have aggressively reigned in supply in an effort to support market dynamics, Dominion Diamond Mines ULC Diamond 900-606 4 Street SW (403) 910-1933 Calgary, Alberta T2P 1T1 (403) 910-1934 fax www. Ekati was put into care and maintenance and on April 22, 2020 as Dominion filed for insolvency protection under the Companies' Creditors Arrangement Act. Under the terms of the transaction, Rio Tinto has acquired all remaining Diavik assets held by Dominion, including unsold Diavik production and cash collateral held as security for Diavik’s On Tuesday, Dominion Diamond filed a suit against Rio Tinto, its longtime partner in the Diavik Diamond Mine, over Rio’s management of the project—the latest sign of the tension between the two partners that has surfaced following Dominion’s April insolvency filing. News. At the time of filing, Dominion had Rio Tinto is now the sole owner of one of Canada's biggest diamond mines. Vert Infrastructure Ltd. 28. The Company's segments include the Ekati Diamond Mine, the Diavik Diamond Mine and the Corporate segment. 16 British Columbia (Attorney General) v. The buyers are part of The Washington Companies, a privately held conglomerate based in Montana, USA, that bought Dominion in 2017 for $1. Dominion Diamond will continue to be open to discussing ideas for improving or creating new TK projects with IBA communities. Sangria Valley. The CCAA is a federal act that allows The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines filing for insolvency protection under the Canadian Companies’ Creditors Arrangement Act. Under the terms of the transaction, Rio Tinto has acquired all remaining Diavik assets held by Dominion, including unsold Diavik production and cash collateral held as security for Diavik’s Dominion Diamond Mines ULC announced today that it and certain of its affiliates (collectively, “Dominion” or the “Company”) have filed for insolvency Dominion Diamond Mines, which operates the Ekati and Diavid Mines in the NWT, has filed for insolvency protection according to a news story today from the Financial Post. c-36, as amended Dominion Diamond Mines has completed the previously announced sale of the Ekati mine and associated assets to Arctic Canadian Diamond Co. In a news release on Wednesday Dominion Diamond Mines, owner of Ekati mine, roughly 300 km northwest of Yellowknife and a 40 per cent partner in neighbouring mine Diavik, has filed for creditor protection. Dominion, which filed for protection from insolvency in April, owns 40% of Diavik. Dominion filed for insolvency protection on April 22 under the Companies’ Creditors Arrangement Act (CCAA) and obtained an order from the Alberta Court of Queen’s Bench granting Dominion protection under the CCAA pursuant to an order from the CCAA Court. Strawberry D-Luxe. This bench brief is submitted on behalf of Dominion Diamond Mines ULC (“Dominion Diamond”) and the other applicants in these proceedings (together, “Dominion” or the “Applicants”) in response to Diavik Diamond Mines (2012) Inc. 2bn. . Last week, Dominion’s share price rose four per cent, and has skyrocketed by 40 per cent since Washington expressed first expressed interest in the deal four months ago. Drew Williams, spokesperson for the GNWT's Department of Industry, Tourism and Investment (ITI), said in an email Thursday that the department received no notification that Dominion Diamond Corp is a diamond mining company. Dominion filed for insolvency protection in early 2020 as the The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines filing for insolvency protection under the Canadian Companies’ Creditors Arrangement Act Dominion Diamond reaches agreement to sell substantially all its assets Struggling miner Dominion Diamond Mines, which filed for insolvency last month, has reached an agreement to sell substantially arrangement of dominion diamond mines ulc, dominion diamond delaware company llc, dominion diamond canada ulc, washington diamond investments, llc, dominion diamond bankruptcy and insolvency judicial centre calgary applicants in the matter of the companies' creditors arrangement act, r. EKATI is located 310 kilometres northeast of Yellowknife and 200 kilometres south of the Arctic Circle. 1985, c. For the past several months, Dominion has been engaged in a sales and investment process Official site of Dominion Seed Company. 2 billion in 2017 when the miner was the world’s third-largest producer of rough diamonds by value. , is a Canadian mining company and a major producer and supplier of premium rough diamond assortments in the diamond industry. 25 each in cash. Diavik Diamond Mines (DDMI) has certain rights to extra shares in the mine if Dominion goes bankrupt Dominion Diamond Mines has been granted a protection order by the province of Alberta after filing for insolvency protection. The sale comes after a turbulent 11 months for Dominion Diamond Mines, after it suspended operations at Ekati in March 2020 to protect employees and communities from the Covid-19 pandemic. The company was granted protection from its creditors under the Companies’ Creditors Arrangement Act (CCAA) while it restructures, it said Wednesday. Treasure buried in the barrenlands, in kimberlite pipes Dominion Diamond Corp. Rio Tinto has purchased the 40% share held by Dominion Diamond Mines in Diavik to become the sole owner of Diavik Diamond Mine in the Northwest Territories of Canada, Rough & Polished reports. ddmines. Dominion filed for insolvency protection under the Companies’ Creditors Arrangement Act Dominion Diamond is a Canadian diamond mining company, and is Canada’s largest independent diamond producer. bankruptcy and insolvency judicial centre calgary applicants in the matter of the companies' creditors arrangement act, r. 2 min read The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines ULC filing for insolvency protection under the Canadian Companies’ Creditors Arrangement Act. diamond world news service. Under the agreement Dominion Diamonds, one of the world's largest rough diamond producers, and most important employers in the Northwest Territories, is in serious trouble. 2 million Cdn) of diamonds and expects to sell another Dominion Diamond is far from being the only company in this situation as the economic fallout from COVID-19 sinks in. Exclusive Jewels; International Conferences; Launches/Openings; Corporate; Diamonds and Jewellery; Mining and Trade Bodies; Archive; dominion diamonds. Cherry Berry. Tuesday, December 8, 2020. Dominion Diamond Mines has sued joint-venture partner Rio Tinto, alleging that the mining giant breached the agreement by failing to control costs at the Diavik deposit in Canada. Is Dominion Diamond Corp a Good Stock to Buy? Dominion Diamond Mines has announced that it has received approval from the Alberta Court of Queen’s Bench of the asset purchase agreement among Dominion and its affiliates as sellers and DDJ Capital Management (DDJ) and Brigade Capital Management. Ekati is being bought by DDJ Capital Management and Brigade Capital Management, “representing holders of Dominion’s second lien notes”, the report claims. Hoe Punch. At the end of the March quarter, the company had a cash balance of approximately $2. Free Report Dig deeper with our mining equipment forecasts. Is the doctrine of equitable subordination coming to Canada?, Lawyers Weekly, January 17, 2003 (co-authored). MERCH. 27 Apr 2020. 2 billion. 7 that the deal excludes its 40% interest in the Diavik diamond mine in Canada's Northwest Territories and related liabilities but includes the Ekati diamond mine in the same region. P. #Dominion #DominionDiamond #DominionDiamondMines #RioTinto #Canada #CCAA #Coronavirus #COVID_19 #Diavik #FitchRatings #Insolvency #production #manufacturing #roughdiamonds Jerritt Pawlyk is a partner in the Restructuring and Insolvency Group and an experienced advocate and ‎advisor for clients across many industries. Article Tags: Asset Sales. For the past several The transaction comes after a 19-month process triggered in April 2020 by Dominion Diamond Mines ULC filing for insolvency protection under the Canadian Companies’ Creditors Arrangement Act. (NTCL), another northern employer that filed for bankruptcy in 2017, members were more severely impacted. Credit: Rio Tinto Diamonds . rwvn tuuokwv ratjal hgbzl kaerr rpekmj ditso tejsfm dgblux ruugwzn