Notice of Intention to Make a Proposal
On October 27, 2017, Planit Builders Ltd. (the “Company” or “Planit”) filed a Notice of Intention to Make a Proposal. Hardie & Kelly Inc. has been appointed as Trustee under the proposal (the “Proposal Trustee”). S. 69(1) of the Bankruptcy & Insolvency Act (the “Act”) provides the Company certain relief including the imposition of a Stay of Proceedings (the “Stay”) against the Company and its assets. Claims against the Company for payment of goods and services supplied to Planit prior to October 27, 2017 are suspended and creditors are prohibited from continuing or commencing any actions or exercising any rights against the Company except with leave of the Court of Queen’s Bench of Alberta (the “Court”).
Status Update as at November 24, 2017
On November 24, 2017, Planit filed the proposal to its creditors (the “Proposal”) with the Office of the Superintendent of Bankruptcy. A copy of the Proposal and associated documents including the materials necessary to file a claim with the Proposal Trustee and vote on the Proposal are included in the document entitled Creditor Package below:
A meeting of Planit’s creditors (the “Creditors’ Meeting”) to consider the Proposal will be held on Friday, December 29, 2017 at 10:00 a.m. MST at:
Hotel Blackfoot (Heritage Room)
5940 Blackfoot Trail SE
Calgary, Alberta, T2H 2B5
Attendance at the Creditors’ Meeting is not mandatory; however, in order to participate in the Proposal process and be eligible to receive any distributions contemplated under the Proposal, you must file a properly completed Proof of Claim form including appropriate supporting documentation with the Proposal Trustee prior to the commencement of the Creditors’ Meeting. If you are unable to attend the Creditors’ Meeting, you may cast your vote by submitting a properly completed Proof of Claim form and Voting Letter to the Proposal Trustee, in advance of the Creditors’ Meeting by mail, facsimile at 403-640-0591 or by email to firstname.lastname@example.org. Creditors planning to attend the Creditors’ Meeting in person are still encouraged to submit your materials to the Proposal Trustee in advance of the Creditors’ Meeting to have your vote pre-registered
Should you have any questions or concerns please contact Marc Kelly, of Hardie & Kelly Inc. at 403-536-8510.
The commencing documents are included in the Notice to Creditors below: