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Western Potash Corp. (OTC: WTRNF) and related subsidiaries of Western Resources obtained an Initial Order under Canada’s Companies' Creditors Arrangement Act, effective August 21, 2026. FTI Consulting Canada was appointed as Monitor to oversee the restructuring.
The Order imposes a stay of proceedings until August 31, 2026, allows the Debtors to continue operating and pay post-order obligations and certain pre-order employee and critical supplier amounts, but restricts payments on pre-CCAA debt without approval. The Court also approved up to US$1,000,000 in interim financing from WPC (Jersey) Limited, secured by court-ordered priority charges. The Debtors plan to develop a creditor Plan and will seek an extension of the stay and additional authority at a hearing on August 31, 2026, with potential Chapter 15 recognition in the U.S.