As you are aware, on January 20, 2016, Stealth Acoustical & Emission Control Inc. ("Stealth" or the "Company") filed a Notice of Intention to Make a Proposal (the "NOI") under section 50.4(1) of the Bankruptcy and Insolvency Act (the "BIA"). Deloitte Restructuring Inc. consented to act as Trustee under the NOI.
Stealth was granted an initial 30-day stay of proceedings (the "Initial Stay") pursuant to Section 69(1) of the BIA. Stealth is required to file a proposal (a "BIA Proposal") within the Initial Stay or within any further extension of that period granted by the Court of Queen's Bench of Alberta (the "Court").
Subsequently on March 15, 2016 Stealth was deemed to have made an assignment in bankruptcy and Deloitte was appointed as Trustee of the estate of the bankrupt. The first meeting of creditors (the "First Meeting") is being held at Deloitte's offices at 700 Bankers Court, 850 - 2nd St. SW, Calgary Alberta on Tuesday, April 5, 2016 at 10:00 AM. In order to be eligible to vote at the First Meeting, creditors must have filed, prior to the First Meeting, a valid proof of claim form and where necessary, a proxy. The Trustee expects to have the creditors' package along with a proof of claim form to be mailed out no later than Monday, March 21, 2016.
Below is a copy of the Certificate of Appointment
For further information, please contact:
Financial Advisory/Restructuring Services
1. Notice to Creditors of NOI
2. Bankruptcy Creditors' Package
1. Extension of Stay Order - February 19, 2016
1. Trustee's First Report
2. Trustee's Preliminary Report
May 24, 2016