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Negotiation of a pre-filing US$110 million loan and credit facility

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Ad Hoc Group of Lenders to Westemoreland Coal Company

WCC is one of America’s oldest coal mining companies, with material operations in the United States and Canada. WCC and certain of its subsidiaries filed Chapter 11 bankruptcy proceedings in the United States in October 2018. We are acting as Canadian counsel (alongside Kramer Levin in the United States) to the Ad Hoc Group. In the course of our engagement we have advised Kramer Levin and our clients in connection with, among other things (i) the negotiation of a pre-filing US$110 million secured bridge loan facility, (ii) a post-filing DIP credit facility, and (iii) a stalking horse purchase transaction, which is expected to be put before the US bankruptcy court for approval in late 2018/early 2019.

Fasken advised as Canadian counsel with a team led by Stuart Brotman, Jon Holmstrom, Sean Stevens, Huy Do , Ross Gascho, Katherine Pollock and Christopher Steeves.



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