As anticipated, Lightstream has received an initial order from the Court of Queen’s Bench of Alberta under CCAA granting the Company protection from its creditors until October 26, 2016. The Company’s proposed sales process has also been approved, which paves the way for Lightstream’s secured noteholders to make its previously agreed upon credit bid, which we expect will be ~$1,350 mm. Should the credit bid be the successful bid, both unsecured noteholders and shareholders w

29 Sep 2016
Receives Initial Order for CCAA Protection

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Receives Initial Order for CCAA Protection
- Published:
29 Sep 2016 -
Author:
Cody R. Kwong -
Pages:
3 -
As anticipated, Lightstream has received an initial order from the Court of Queen’s Bench of Alberta under CCAA granting the Company protection from its creditors until October 26, 2016. The Company’s proposed sales process has also been approved, which paves the way for Lightstream’s secured noteholders to make its previously agreed upon credit bid, which we expect will be ~$1,350 mm. Should the credit bid be the successful bid, both unsecured noteholders and shareholders w