​Parkland Airport Development Corporation

On November 29, 2016, Parkland Airport Development Corporation (the "Company") obtained an initial order from the Court of Queen's Bench of Alberta pursuant to the Companies' Creditors Arrangement Act (the "CCAA") under Court file no. 1603 20319.  The Initial Order provides for a stay of proceedings until December 28, 2016 (the "Stay"), pursuant to which creditors are restrained from enforcing or exercising any rights or remedies against the Company. The Stay has been granted to give the Company time to determine if it can formulate a plan of arrangement (the "Plan") to present to its creditors. Under the CCAA, the Stay may be extended on such terms and with such modifications as the Court considers appropriate.

Deloitte Restructuring Inc. (the “Monitor”) was appointed by the Court as the Monitor in the CCAA proceedings.  The Monitor's duties are set out in the Initial Order and include the following:

Monitoring the Company's operations and cash flow during the CCAA proceedings;
Reporting to the Court as to the Company's restructuring efforts and compliance with the Initial Order; and
Advising the Court and the creditors as to the reasonableness and fairness of any Plan that may be proposed by the Company to its creditors

The Initial Order, a listing of creditors, as represented by the Company, and other publicly available documents can be accessed on this webpage. Interested parties are encouraged to check this page for updates as to the status of CCAA proceedings.

Contact

For further information, you may also contact the Monitor at the address as follows:

Deloitte Restructuring Inc.
1500 Manulife Place
10180 101 Street 
Edmonton, AB  T5J 4K1

Attention: Garrett Chan
Email: garrchan@deloitte.ca
Phone: 780-421-3759
Fax: 780-421-3782

Documents