Cline Mining gains U.S. enforcement of Canadian sanction on CCAA plan

By Kali Hays

New York, Jan. 28 – Cline Mining Corp.’s sanctioned Companies’ Creditors Arrangement Act plan of compromise and arrangement will be enforced by the U.S. Bankruptcy Court for the District of Colorado, according to a Jan. 28 order.

As previously reported, the Ontario Superior Court of Justice sanctioned Cline’s plan on Jan. 27.

Cline’s court-appointed monitor FTI Consulting Canada Inc. said enforcement of the plan sanction order will coordinate Cline’s Chapter 15 bankruptcy case with the CCAA case as closely as possible, limit administrative expenses and allow the company to emerge from its insolvency proceedings as soon as possible.

Cline, a mine development company based in Sudbury, Ont., filed for bankruptcy on Dec. 3. The Chapter 15 case number is 14-26132.

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