McCaw North Drilling & Blasting Ltd. (the “Company” or “McCaw”) operates out of Yellowknife in the Northwest Territories as a drilling and blasting contractor.
On September 20, 2019 the Company filed a Notice of Intention to Make a Proposal (“NOI”) under subsection 50.4(1) of the Bankruptcy and Insolvency Act.
The Company is seeking offers to purchase McCaw North Drilling & Blasting Ltd.’s assets consisting of:
Compressors;
Drills and attachments;
Corporate vehicles;
Trailers;
Telehandlers, excavators, and loaders;
Seacan containers; and,
Various warehouse equipment.
The deadline to submit offers is 4:00pm MST on Wednesday, October 23, 2019.
On October 18, 2019, the Company applied for and received an Order extending the time to file a Proposal to December 3, 2019.
On December 3, 2019, the Company filed a Proposal with The Bowra Group Inc. under the Bankruptcy and Insolvency Act.
On January 15, 2020, the Company’s Proposal was accepted by it’s creditors.
The Company will be seeking Court Approval of the Proposal on February 21, 2020 at 10:00am at the Yellowknife Law Courts. Further details including the Application Materials are posted below.
On February 21, 2020, the Proposal obtained approval by the Supreme Court of the Northwest Territories.
A general meeting of the creditors will be held at the offices of Lawson Lundell LLP at Suite 200 4915 48 Street, Yellowknife Northwest Territories at 11:30AM on December 18, 2019.
On December 18, 2019 the First Meeting of Creditor’s was adjourned pursuant to Section 52 of the Bankruptcy and Insolvency Act in order to enable a further investigation of the affairs of the Company.
A subsequent meeting of creditor’s will be held at the offices of Lawson Lundell LLP at Suite 200, 4915 48 Street, Yellowknife Northwest Territories at 10:30AM on January 15, 2020.