Aerial shot of Ekati Mine. (Supplied by Dominion Diamond Mining Company).
City of Yellowknife
Less than 1 min.read

Alberta Court of Queen’s Bench grants Dominion Mines CCAA protection

Mo Fahim
By Mo Fahim

The economic impacts of COVID-19 has forced Dominion Diamond Mines and affiliates to file for insolvency protection under the Companies’ Creditors Arrangement Act (“CCAA”).

In a press release April 22nd,  the company noted considering a proposal from an affiliate of The Washington Companies, Dominion’s current equity owner, to provide debtor-in-possession (“DIP”) financing to maintain cash flow during the CCAA process.

The company also received an order from the Alberta Court of Queen’s Bench granting Dominion protection under the CCAA.

During the CCAA process, Dominion’s management will continue to be responsible for handling the care and maintenance of the Ekati Diamond Mine and all day-to-day operations.

More updates on the CCAA proceedings will be released when there are significant developments.

Mo Fahim
Mo Fahim
The Moose News Reporter, If you see any news in the making contact The Moose News Team at 100news.moosefm.com or call 867-920-2523

Continue Reading

You may also like



cjcd Now playing play

- Advertisement -

Related Articles

- Advertisement -

Latest News

“We don’t want to live in the shadow of an environmental nuclear accident forever”: Dene Nation water protector

Northwest Territories
Environmental water activists and Indigenous governments are calling on the federal and provincial governments to uphold promises made over a century ago under Treaty 8. “We have to protect the water not only for First Nations people, but for everyone. We have seen the cumulative environmental impacts of industrial projects in the province of Alta., in the province of Sask., in the province of B.C., that all flow north through the water," says Gerry Cheezie.

Ft Providence police seek public assistance to identify suspect

Northwest Territories
The Fort Providence RCMP is asking the public for assistance in identifying a suspect after an alleged break and enter in February. Officers have released photo stills from footage of the alleged incident last month.

Minister Rebecca Alty speaks on Northern infrastructure investments

Northwest Territories
Investments in northern infrastructure and defense announced by Prime Minister Mark Carney last week was the topic of discussion for Northwest Territories MP and Crown-Indigenous Relations Minister Rebecca Alty.

Work advances on NWT all-season road into Grays Bay: YKDFN and Tłı̨chǫ Government

Northwest Territories
The Yellowknives Dene First Nation and the Tłı̨chǫ Government announced that they are jointly advancing work on the all season road linking Grays Bay to the territory. “YKDFN and TG are jointly advancing an all-season road that would link the Northwest Territories to Nunavut and a proposed deepwater port at Grays Bay, unlocking access to critical minerals and creating long-term economic opportunities in a way that respects Indigenous rights and self-determination."

Some health services in Yellowknife region to see reduced hours Friday

City of Yellowknife
The territorial government says that some health services in the Yellowknife region will operate at reduced hours this Friday. The change in scheduled hours observes the half-day civic holiday on March 20 in recognition of the Yellowknives Dene First Nation’s annual Spring Carnival.