Watts Mechanical Services Ltd. ("Watts") is a long established company that first began operations over 40 years ago. Watts operated as a commercial and industrial mechanical services company in Calgary, Alberta.On October 21, 2011, Watts sought protection under the Bankruptcy and Insolvency Act (the "BIA") by filing a Notice of Intention to Make a Proposal. On November 18, 2011 Watts sought, and was granted by the Court of Queen's Bench of Alberta, a 45-day extension of time for filing its proposal to December 21, 2011.Watts did not seek a further extension of time to file a proposal and was unable to file a proposal by December 21, 2011. Consequently, a deemed assignment into bankruptcy was made effective December 22, 2011 and Ernst & Young Inc. ("EY") (Formerly RSM Richter Inc.) was appointed as the trustee. The engagement was subsequently transferred to Deloitte Restructuring Inc. effective August 10, 2016.
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Feb 7, 2021