On February 22, 2022, 915245 AB Ltd. Operating As Prairie Tech Oilfield Service (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 Licensed Insolvency Trustee under the NOI (the "Trustee"). The Company was granted an initial 30-day stay of proceedings pursuant to Section 69(1) of the BIA. On March 21, 2022 an Order was granted extending the stay of proceedings and time to file a proposal to May 5, 2022. On May 4, 2022, an Order was granted for a further extension to June 18, 2022.
On June 19, 2022, the Company was deemed to have filed an assignment in bankruptcy as no proposal was filed in the NOI proceedings. Deloitte Restructuring Inc. is appointed as Licensed Insolvency Trustee until the first meeting of creditors.
For further information, please contact: Christopher KnoxDirect: 780-401-3913Fax: 780-421-3782
Jun 24, 2022