On August 5, 2010, COMPAÑIA MEXICANA DE AVIACIÓN, S.A. DE C.V. (the “Debtor”), a scheduled passenger air transportation company located in Mexico, filed a motion to the Superior Court of Quebec (Commercial Division) of the District of Montreal to obtain the recognition of foreign proceedings regarding Section 46 and following of the Companies’ Creditors Arrangement Act (“CCAA”). The order rendered the same day orders that the restructuring proceedings commenced by the Debtor pursuant to the Mexico’s Ley de Concursos Mercantiles (the “Foreign Proceedings”’) be and recognized for the purposes of the CCAA and confirms the appointment of Samson Bélair/Deloitte & Touche Inc. as Information Officer who is authorized and empowered to provide such assistance to the Foreign Representative of the Debtor. On September 6, 2010, the Foreign Proceedings has been approved by the Mexican Court allowing the Debtor to initiate the Reorganization Phase. The Mexican Court also approved the implementation of the Procedures relating to the credit recognition application process and the credit recognition Bar Date, which has been set for 5:00 p.m. (Mexico City time) on December 3, 2010. At the Debtors’ request, the Court rendered on November 10, 2010 an order authorizing the extension of the stay period until November 16, 2010. At the Debtors’ request, the Court rendered on November 16, 2010 an order authorizing the first extension of the stay period until January 14, 2011 and issued an order authorizing the insolvent debtor and the petitioner to give effect to an agreement on the refund of tickets. At the Debtors’ request, the Court rendered on January 13, 2011 an order authorizing the second extension of the stay period until April 15, 2011 and issued an order approving an agreement between the petitioner and the insolvent debtor on the refund of tickets. On April 3, 2014, the insolvent Compania Mexicana de Aviaciòn, is declared in full bankruptcy as the company is within the theory provided for in section II Articles 167 and 168 of the Business Reorganization Proceedings Law (LCM). At the Debtors’ request, the Court rendered on May 15, 2014 an order authorizing the twelfth extension of the stay period until November 15, 2014.
Reports and Statements
Notice to Creditors [Supplemental Disclosure Regarding the Credit Recognition Application Process] dated December 16, 2010
The Resolution is available for review at the following web address:
Should you have any questions, please contact us at:
Samson/Bélair Deloitte & Touche Inc.
CCAA Information Officer of
Compañia Mexicana De Aviación, S.A. DE C.V. .
1 Place Ville Marie, Suite 3000
Montreal QC H3B 4T9
Jean-François Nadon, CA, CIRP
You can also refer to the American proceedings at the following website: www.donlinrecano.com/mexicana
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