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Jul 14, 2020 · A recent decision in the Companies’ Creditors Arrangement Act (“CCAA”) proceedings of Bellatrix Exploration Ltd. (“Bellatrix”) serves as a useful reminder to professionals that a court-ordered charge may not be enough to ensure their fees will be paid at the end of the day.
Oct 2, 2019 · In accordance with section 23 (1) (ii) (b) of the CCAA and the Initial Order, a notice will be sent within 5 days of the Filing Date to every known creditor of the Applicant who has a claim against the Company of more than $1,000.
Aug 3, 2020 · A recent decision in the Companies' Creditors Arrangement Act ("CCAA") proceedings of Bellatrix Exploration Ltd.[1] ("Bellatrix") serves as a useful reminder to professionals that a court-ordered...
Jul 14, 2020 · The Engagement Letter stipulated that the Sale Advisor’s compensation would be comprised of: (1) a monthly work fee; and (2) a transaction fee of $2,750,000 plus a percentage of the sale price,...
a transportation fee for its services. While this was beneficial to Bellatrix at the outset, a rebound in Alberta spot pricing narrowed the pricing gap, making the transportation fee uneconomical. Accordingly, shortly after the commencement of the CCAA proceedings, Bellatrix purported to disclaim the Contract pursuant to s. 32 of the CCAA.
Aug 31, 2022 · On July 7, 2022, the Court granted an Approval and Vesting Order (“AVO”) in the CCAA Proceedings, providing among other things that the Monitor could effect a transaction (the “Transaction”) in which Bellatrix would be restructured, emerge from the CCAA proceedings and be replaced with 2350810 Alberta Ltd. (“Newco”) as the CCAA ...
The Transaction was approved today by the Court of Queen’s Bench of Alberta (the “Court”) pursuant to an Approval and Vesting Order (the “Court Order”) in the Company’s proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”), and remains subject to certain remaining conditions.
