The applicants, comprising a wholesale fuel supplier servicing First Nations communities, sought initial protection under the CCAA due to a looming liquidity crisis precipitated by alleged executive misconduct and missing financial records.
The court granted the initial order, including a stay of proceedings extending to regulatory authorities to prevent the revocation of essential fuel licenses.
The court also appointed KPMG as Monitor with enhanced investigatory powers, approved administration and D&O charges, authorized payment of critical pre-filing expenses, and granted a sealing order over a confidential affidavit to respect comity with a foreign court order.
