On April 30, 2014, the Court of Queen’s Bench of Alberta (“Court”) issued an order (‘Initial Order”) granting Kyoto Fuels Corporation (“Kyoto” or the “Company”) protection pursuant to the Companies’ Creditors Arrangement Act (“CCAA”) (the “CCAA Proceedings”). Ernst & Young Inc. (“EY”) was appointed monitor (“Monitor”) under the Initial Order. The Initial Order was granted upon the application of T&E Ventures Inc. (“T&E”), a secured creditor of Kyoto. Kyoto's CCAA Proceedings were terminated on May 29, 2014, the Court issued a Receivership Order appointing EY as Receiver (the “Receiver”) of the property, assets, and undertakings (the “Property”) of Kyoto. Although the Kyoto receivership proceedings are ongoing, the Receiver sold all of Kyoto’s assets which was approved by the Court on May 12, 2015. On October 28, 2015, the Court issued a Bankruptcy Order appointing EY as Trustee in bankruptcy of Kyoto (the “Trustee”) pursuant to an application by one of Kyoto’s secured creditors, Capital Power LP (“CP”) and the engagement was subsequently transferred to Deloitte Restructuring Inc. effective August 10, 2016.
The Trustee obtained its discharge on March 1, 2021.If you have questions or require further information, please contact Naomi McGregor at (403) 503-1423 or naomcgregor@deloitte.ca.
Court Orders
Last updated Oct 13, 2022
