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Court File No. CV14- 10781 -OOCL <br />ONTARIO <br />SUPERIOR COURT OF JUSTICE <br />(COMMERCIAL LIST) <br />IN THE MATTER OF THE COMPANIES' CREDITORS <br />ARRANGEMENT ACT, R.S.C. 1985, c. C -36, AS AMENDED <br />AND IN THE MATTER OF A PLAN OF COMPROMISE OR <br />ARRANGEMENT OF CLINE MINING CORPORATION, NEW <br />ELK COAL COMPANY LLC AND NORTH CENTRAL ENERGY <br />COMPANY <br />FIRST REPORT OF FTI CONSULTING CANADA INC., <br />in its capacity as Monitor of the Applicants <br />December 16, 2014 <br />INTRODUCTION <br />1. On December 3, 2014 (the "Filing Date "), Cline Mining Corporation ( "Cline "), <br />New Elk Coal Company LLC ( "New Elk ") and North Central Energy Company <br />( "North Central ") (collectively, the "Applicants ") filed for and obtained <br />protection under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C -36, as <br />amended (the "CCAA "). Pursuant to the Order of this Honourable Court (the <br />"Initial Order ") dated December 3, 2014 (the "Filing Date "), FTI Consulting <br />Canada Inc. ( "FTI ") was appointed as the Monitor of the Applicants (the <br />"Monitor ") in these CCAA proceedings (the "CCAA Proceedings "). The Initial <br />Order provided, inter alia, for a stay of proceedings through to and including <br />December 31, 2014 for the Applicants. <br />