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Dominion Diamond Mines - Status Updates

May 1, 2020

On May 1, 2020 the Court granted an amended and reinstated Initial Order which provides for:
- an extension of the Stay of Proceedings until and including June 1, 2020;
- an increase of the Administration Charge and Directors' Charge granted in the CCAA Proceedings to the amounts sought in the Originating Application of $3.5 million and $4.0 million, respectively; and
- increasing the amount of the payments the Applicants are authorized, but not required, to make with respect to expenses incurred prior to the commencement of the CCAA Proceedings to the amount sought in the Originating Application of $5.0 million.


April 22, 2020

On April 22, 2020 Dominion Diamond Mines ULC, Dominion Diamond Delaware Company, LLC, Dominion Diamond Canada ULC, Washington Diamond Investments, LLC, Dominion Diamond Holdings, LLC and Dominion Finco Inc. (collectively, the "Applicants" or "Dominion") sought and obtained an initial order (the "Initial Order") under the Companies' Creditors Arrangement Act ("CCAA"). Pursuant to the Initial Order FTI Consulting Canada Inc. was appointed monitor (the "Monitor") of the Applicants. Under the Initial Order the Applicants were granted a Stay Period to May 2, 2020. Accordingly the Court scheduled a comeback hearing ("Comeback Hearing") for May 1, 2020 where it would hear arguments with respect to the relief granted in the Initial Order.


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