Accurate Logistics Solutions Inc.

Proposal

At the meeting of creditors held on December 10, 2009 to consider the proposal of Accurate Solutions Logistics Inc. (“Accurate”), the statutory majority of creditors approved the proposal.  On December 15, 2009, the Court of Queen’s Bench of Alberta also approved the proposal.  Dividend cheques were mailed to eligible unsecured creditors on February 8, 2010.

• Order Approving Proposal – December 15, 2009
• Letter to Creditors – November 26, 2009
• Notice of Proposal to Creditors
• Proposal
• Statement of Affairs
• Report of Trustee on Proposal
• Proof of Claim
• Proxy
• Voting Letter 

Notice of Intention to Make a Proposal

On September 30, 2009, Accurate filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to the Bankruptcy and Insolvency Act (“the Act”).  Hardie & Kelly Inc. consented to act as Trustee under the Proposal (the “Trustee”).  The relevant initial materials are as follows:

• Letter to Creditors
• Certificate of Filing of NOI
• NOI
• Consent of Trustee
• List of creditors in excess of $250

Pursuant to S. 69 of the Act, a stay of proceedings is in effect preventing creditors from taking any action against Accurate without leave of the Court of Queen’s Bench of Alberta (the “Court”).

Extension of Time to File a Proposal

On October 30, 2009, the Court issued an order extending the time required for Accurate to file its Proposal to December 14, 2009.

Court Orders

• Order Extending Time to File Proposal – October 30, 2009

Trustee’s Reports

• First Report of the Trustee – October 29, 2009

Creditors are encouraged to check this webpage from time to time for updates on the status of the proceedings.

Contact person for Trustee: Melissa Sommerfeld – 403-252-1766 or melissa@insolvency.net