The applicant, owner of a biomass electrical co-generation facility, sought an Initial Order under the Companies' Creditors Arrangement Act (CCAA).
Facing significant debt, construction liens, and operational difficulties, the applicant required a stay of proceedings to implement a sales and investment solicitation process.
The court granted the Initial Order, including a stay of proceedings, authorization to pay critical pre-filing supplier expenses, approval of a $5 million DIP financing facility with a priority charge, and a sealing order over sensitive commercial information.
