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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Cline Mining Corporation Completes Recapitalization Transaction

2015

Areas Banking and Finance Law, Commercial Real Estate, Corporate Finance and Securities, Corporate Restructuring, Tax

Summary

Goodmans represented Cline Mining Corporation (Cline) in the completion of a recapitalization and refinancing transaction that included the conversion of $110 million of secured debt into new common shares, the issuance of $55 million of new secured debt and the settlement of significant class action claims under The US Worker Adjustment and Retraining Notification Act (US Warn Act).

The recapitalization was completed pursuant to a plan of arrangement under the Companies' Creditors Arrangement Act, with the cross-border proceedings under Chapter 15 of the US Bankruptcy Code.  The recapitalizaiton has allowed Cline to remain a unified corporate enterprise which significantly reduced its indebtedness.

Cline Mining Corporation is a publicly-traded Toronto-based mining and resouces company.