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WEQ Holdings Inc. (formerly WesternOne Inc.) – Liquidation
The Bowra Group Inc. was appointed Liquidator (the “Liquidator”) of WEQ Holdings Inc., (“WEQ”), formerly WesternOne Inc., on December 17, 2018 pursuant to an order of the Supreme Court of British Columbia (the “Liquidation Order”).
The Supreme Court of British Columbia also granted an order on December 17, 2018 detailing the claims procedure to be followed in the Liquidation of WEQ (the “Claims Procedure Order”).
Copies of the Liquidation Order and Claims Procedure Order are available under WEQ – Court Documents section of this webpage.
Pursuant to the terms of the Claims Procedure Order a copy of the Claims Procedure Notice and Proof of Claim Form are available under WEQ – Claims Procedure section of this webpage.
VANCOUVER, BC (December 17, 2020) WEQ Holdings Inc. (formerly WesternOne Inc.) (“WEQ” or the “Corporation”) by The Bowra Group Inc. in its capacity as the Court-appointed liquidator of WEQ (the “Liquidator”), today announced that the Supreme Court of British Columbia (the “Court”) has made an Order approving the Liquidator making a final distribution (the “Final Distribution”) and the discharge of the Liquidator on certain conditions. A Liquidation Plan dated December 17, 2018 (the “Liquidation Plan”) was approved by the Court pursuant to an Order dated December 17, 2018 (the “Liquidation Order”).
The Liquidator is required to calculate and pay the Final Distribution, which it currently expects to be between $0.10 to $0.12 per share, subject to payment of the remaining liquidation expenses, filing of the final tax return of WEQ, requesting and obtaining a final tax clearance certificate from the Canada
Revenue Agency and attending to the dissolution of WEQ. The Liquidator currently expects this remaining work to be complete by June 30, 2021. While the Liquidator is not currently aware of any other issues that need to be resolved, should any such issues arise before the dissolution of WEQ, they could materially impact the amount of the Final Distribution.
WEQ – Press Releases
iii. July 23, 2019)
xii June 24, 2020
xiii September 24, 2020
WEQ – Court Documents
iv. WEQ Extension and Discharge Order
WEQ – Claims Procedure