OAN Resources Ltd. (the “Company”) failed to file a proposal by the most recent deadline imposed by the Court of Queen’s Bench of Alberta (the “Court”). Consequently, the Company was deemed to have made an assignment into bankruptcy as of October 16, 2019.
Hardie & Kelly Inc. has been appointed as trustee of the bankrupt estate (the “Trustee”). Notice of the First Meeting of Creditors (the date of which has yet to be confirmed), Statement of Affairs and Proof of Claim form will be sent to known creditors by the Trustee in due course.
Pursuant to section 69.3(1) of the Bankruptcy and Insolvency Act (the “BIA”), creditors are prohibited from continuing or commencing any actions or exercising any rights against the Company except with leave of the Court.
NOTICE OF INTENTION TO MAKE A PROPOSAL PROCEEDING
On June 14, 2019, the Company filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to the BIA. Hardie & Kelly Inc. was appointed as the trustee in respect of the proposal proceedings (the “Proposal Trustee”).
On August 27, 2019, the Court granted an Order further extending the time in which the Company must file a proposal through to October 12, 2019; however, the Company failed to do so and was deemed to have made an assignment into bankruptcy on October 16, 2019.
The NOI and related documents can be found below in the Initial Notification to Creditors package.
- Application re: Extension of Stay – filed June 28, 2019
- Affidavit of David Fricker – filed June 28, 2019
- Bench Brief of the Applicant re: Application for Extension of Stay – filed July 2, 2019
- Application for Second Extension of Stay – filed August 19, 2019
- Affidavit of David Fricker – filed August 19, 2019
- Brief of OAN Resources Ltd. re: Application for Second Extension – filed August 21, 2019
Proposal Trustee Reports
- Consent Order re: Builders’ Lien – June 21, 2019
- Order re: Extension of Time to File Proposal and Critical Suppliers – July 8 2019
- Consent Order re: Builders’ Lien – July 31, 2019
- Order re: Extension of Time to File Proposal – August 26, 2019
Contact person for the Trustee – Marc Kelly at 403-536-8510 or firstname.lastname@example.org