Powell Associates Ltd. Licensed Insolvency Trustee

Current Insolvency Proceedings

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Insolvency and restructuring matters require clear communication with creditors and stakeholders. The latest information relating to current proceedings are posted here as soon as they are available.


669699 N.B. Ltd., MP Atlantic Wood Ltd. and New Future Lumber Ltd. (collectively, the "Applicants")

On November 29, 2017, the Applicants sought and obtained from the Court of Queen Bench of New Brunswick (the “Court”) an initial order (the “Initial Order”) under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”).  A Charging Order was granted at the same time giving priority to DIP Lender advances of $225,000 and for an Administration Charge in the amount of $100,000.

Powell Associates was appointed by the Court as the Monitor in these CCAA proceedings.

At the Court hearing of December 19, 2017, the Court granted the Applicants an extension of the stay of proceedings to January 31, 2018.  The Court also ordered the sealing of Exhibits "L" and "M" of the First Report of the Monitor dated December 15, 2017.  No changes were made to the amount of the approved DIP Lender's Charge nor the Administration Charge which continue to be $225,000 and $100,000, respectively.

At the Court hearing of January 31, 2018, the Court granted the Applicants an extension of the stay of proceedings to April 23, 2018.  No changes were made to the amount of the approved DIP Lender's Charge nor the Administration Charge which continue to be $225,000 and $100,000, respectively.

All date abbreviations are in the form YYMMDD.

COURT ORDERS

MONITOR'S REPORTS

APPLICATION & MOTION MATERIALS

Initial Application - Hearing on 171129

Comeback Hearing on 171219

Comeback Hearing on 180131

LIST OF CREDITORS

CREDITOR NOTICES

SERVICE LIST

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