EastCoal Inc. ("EastCoal") filed a Notice of Intention to Make a Proposal ("NOI") on November 5, 2013 pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act (the “BIA”). Pursuant to Section 69 of the BIA, all proceedings against EastCoal were stayed as of that date. Documents with regards to these proceedings will be posted to this website.
On November 7, 2013 the following documents were mailed to known creditors:
EastCoal's press release can be found at:
http://www.marketwired.com/press-release/eastcoal-inc-files-notice-intention-make-proposal-under-bankruptcy-insolvency-act-canada-tsx-venture-ecx-1850366.htm
December 2, 2013 – EastCoal has made an application to the Court to extend the time for filing a proposal by 45 days to January 19, 2014. Posted to this website are the following documents:
December 5, 2013 - EastCoal's application to extend the time for filing a proposal was heard on December 5, 2013 and the following order was granted providing an extension to January 17, 2014.
December 9, 2013 – EastCoal’s application for the release of funds paid into Court was heard on December 9, 2013 and the following order was made releasing $240,706.50 to EastCoal.
January 9, 2014 – EastCoal has made an application to the Court to extend the time for filing a proposal by 45 days to March 3, 2014. EastCoal has also made an application approving the sale of certain subsidiaries. Posted to this website are the following documents:
January 16, 2014 – Eastcoal’s application to extend the time for filing a proposal was heard on January 16, 2014 and an order was granted providing an extension to March 3, 2014. EastCoal’s application for the approval of the sale of certain subsidiaries was also heard and orders approving the sales were granted. Posted to this website are the following documents:
February 26, 2014 – EastCoal has announced the completion of the disposal of its Ukrainian subsidiaries and the suspension of trading on AIM.
February 26, 2014 – EastCoal has made an application to the Court to extend the time for filing a proposal by 45 days to April 17, 2014. Posted to this website are the following documents:
March 3, 2014 - EastCoal's application to extend the time for filing a proposal was heard on March 3, 2014 and the following order was granted providing an extension to April 17, 2014.
April 10, 2014 – EastCoal filed a proposal to its creditors (“Proposal”) under Part III, Division I of the BIA with the Office of the Superintendent of Bankruptcy. Posted to this website are the following documents:
April 11, 2014 – A meeting of creditors will be held on April 22, 2014 at 10:00am at the offices of Deloitte Restructuring Inc., located at 2800-1055 Dunsmuir Street, Vancouver, BC. The purpose of the meeting is to consider the Proposal made by EastCoal to its creditors with claims outstanding as at November 5, 2013, the date of filing of the NOI. On April 11, 2014 the following documents were mailed to creditors:
Creditor Mailing Package, incorporating:
April 23, 2014 – The meeting of creditors to consider EastCoal’s Proposal to creditors was held on April 22, 2014. At the meeting, the Proposal was unanimously approved by the creditors voting in person and by voting letter. Posted to this website is the following document:
April 29, 2014 – On April 29, 2014, the Trustee issued a notice to all known creditors that had not yet proven their claims stating that all proof of claim forms (with supporting documentation) must be submitted to the Trustee by no later than May 30, 2014 in order to be eligible for a dividend distribution. All claims must be submitted in Canadian dollars converted at the closing exchange rate in effect on the date of the Notice of Intention to Make a Proposal, November 5, 2013. For ease of reference, the exchange rates were GBP:CAD 1.6762, USD:CAD 1.0448, AUD:CAD 0.9911. The Proposal Trustee will not accept any claims received after May 30, 2014.
April 30, 2014 – An application will be made on May 20, 2014 at 09:45am in the Supreme Court of British Columbia (the “Court”) for the approval of the Proposal. Posted to this website are:
May 21, 2014 – Upon application made by EastCoal, the Court has approved the Proposal of the Company on May 20, 2014. Posted to this website are the following documents:
August 28, 2014 – The Company's proposal was fully performed as of August 25, 2014. Posted to this website is:
On May 21, 2015, the Court made the following Order approving the discharge of the Trustee.
General and creditor inquiries may be directed to Mr. Paul Chambers Deloitte Restructuring Inc. 2800 - 1055 Dunsmuir St. Vancouver BC V7X 1P4 Telephone: (604) 640-3368 Fax: 604-602-1583
Last updated Nov 30, 2020
