Yukon government, creditor take disputes over Wolverine mine to Supreme Court of Canada – by Jackie Hong (CBC News North – June 7, 2021)

https://www.cbc.ca/news/canada/north/

The Yukon government and a biotech company that loaned money to the now-bankrupt owner of the Wolverine mine have taken their disputes over who gets what’s left of the mine’s assets to the country’s highest court.

The territorial government, represented by the minister of energy, mines and resources, as well as Welichem Research General Partnership filed separate notices of application for leave to appeal to the Supreme Court of Canada on May 4.

The files were opened on May 27, although the Supreme Court of Canada has yet to decide on whether it will actually hear either case.

The Yukon government and Welichem are asking the court to examine separate legal issues — whether mineral claims count as “real property” as defined under the federal Bankruptcy and Insolvency Act (BIA), and how a receiver in an insolvency case can treat pre-existing contracts with third parties.

‘Irresponsible mining venture’

At the core of both notices is the Yukon Zinc Corporation and what one Yukon judge previously described as its “irresponsible mining venture” in the territory with its Wolverine mine, located between Ross River and Watson Lake.

For the rest of this article: https://www.cbc.ca/news/canada/north/yukon-government-welichem-wolverine-mine-1.6057020

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