Post by
8675309Jenny on Feb 12, 2015 8:37pm
Paliser Denied creditor protection - interesting
Palliser denied creditor protection, FTI named receiver 2015-02-12 19:52 ET - News Release Mr. Kevin Gibson reports RECEIVER APPOINTED Palliser Oil & Gas Corp.'s application to the Court of Queen's Bench of Alberta for protection under the Companies' Creditors Arrangement Act (Canada) on Feb. 12, 2015, was denied. The court instead granted the application of Palliser's bank, National Bank of Canada, to appoint FTI Consulting Canada Inc. as receiver and manager over the assets, undertakings and property of Palliser. The receiver will be in charge of managing the day-to-day affairs of Palliser during the period of its appointment and should be contacted with respect to any questions concerning the assets and liabilities of Palliser. Daryl S. Fridhandler resigned from his position as chairman and as a member of the board of directors of Palliser, and Kevin J. Gibson and Kelly Kerr resigned from the board of directors of Palliser, effective Feb. 12, 2015. We seek Safe Harbor. © 2015 Canjex Publishing Ltd. All rights reserved