​On April 8, 2010, AAER Inc., AAER USA Inc. and Wind-Smart LLC, North American manufacturers of reliable, megawatt-sized wind turbines, filed a motion to the Superior Court of Quebec (Commercial Division) of the District of Bedford to obtain protection under the Companies’ Creditors Arrangement Act (CCAA). The order rendered the same day confirms the appointment of Deloitte Restructuring Inc. (formerly Samson Bélair/Deloitte & Touche Inc.) as Monitor. At the Debtors’ request, the Court rendered on May 7, 2010, an order authorizing the establishment of procedures relating to the claims process and creditors’ meeting and extending the stay of proceedings period until June 2, 2010. On June 2, 2010, an order has been rendered extending for the second time the stay of proceedings until June 7, 2010. On June 7, 2010, an order has been rendered extending for the third time the stay of proceedings until June 9, 2010. On June 9, 2010, an order has been rendered extending for the fourth time the stay of proceedings until July 7, 2010. On July 7, 2010, the Court rendered an order modifying the Claim Process Order and extending the stay of proceedings until August 11, 2010. Also on July 7, 2010, the Debtors have filed a Plan of Reorganization and Compromise which has been submitted to the vote of creditors on August 9, 2010 and duly accepted. The Plan has been approved by the Court by an order rendered on August 11, 2010.

Should you have any questions, please contact us at:

Deloitte Restructuring Inc.
CCAA Monitor of AAER Inc.
1190, avenue des Canadiens-de-Montréal, Suite 500
Montreal QC  H3B 0M7

Jean-François Nadon, CPA, CA, CIRP
Phone: 514-393-7860
Fax: 514-390-4103
Canada: 1-877-856-9043