On December 23, 2019, Nemaska Lithium filed for protection under the Companies’ Creditors Arrangement Act. On January 29, 2020, Nemaska Lithium announced the Court approved its proposed sale and investor solicitation process, indented to generate interest in a recapitalization of Nemaska Lithium or in its assets in order to maximize return of the company’s assets. Nemaska Lithium accepted a sale proposal structured as a credit bid from a group consisting of Orion Mine Finance, Investissement Quebec and The Pallinghurst Group. As of December 1, 2020, the acquisition was complete, allowing the company to operate with strong financial and operational backing while maintaining employment and economic opportunities to benefit the local community.
Nemaska Lithium is a chemical company focused on its vertically integrated activities from spodumene mining to the commercialization of high purity lithium hydroxide.
Osler, Hoskin & Harcourt LLP advised a potential bidder with a team consisting of Sandra Abitan, Julien Morissette (Insolvency & Restructuring) and Emily Lynch (Litigation).