Bow River Energy Ltd.
On June 1, 2020, an Order (the "CCAA Initial Order") was granted by the Honourable Madam Justice A. D. Grosse of the Court of Queen's Bench of Alberta (the "Court") pursuant to the Companies' Creditors Arrangement Act (the "CCAA") granting Bow River Energy Ltd. (the "Company") various relief including, but not limited to, the imposition of an initial Stay of Proceedings against the Company and its assets through to June 11, 2020. The Court appointed BDO Canada Limited as the monitor of the Company (the "Monitor").
On June 10, 2020, the Court granted an Amended and Restated CCAA Initial Order (the “ARIO”) which extended the Stay to July 31, 2020. On July 24, 2020, the Court granted an order further extending the Stay through to October 16, 2020.
Pursuant to the CCAA Initial Order and the ARIO, the Company is to continue to carry on operations in a manner consistent with the commercially reasonable preservation of its business while it considers and pursues restructuring alternatives.
The CCAA Initial Order and the ARIO provide that claims against Bow River in relation to obligations arising prior to June 1, 2020, including for goods and services supplied to Bow River prior to that date, are suspended, and creditors are prohibited from continuing or taking any actions or exercising any rights against Bow River except with leave of the Court.
Creditors are not required to file a proof of claim at this time. A formal claims process is expected to be initiated in due course.
Sales and Investment Solicitation Process
On July 24, 2020, the Court approved a sales and investment solicitation process and the engagement of Sayer Energy Advisors (“Sayer”) as the Sales Agent. The deadline for the submission of bids is August 24, 2020. Interested parties should contact Sayer at 403-266-6133 or at tpavic@sayeradvisors.com.
Court Filings
Court Orders
Monitor's Reports and Correspondence
Service List
Contact Us
#110, 5800 – 2nd Street SW
Calgary, Alberta T2H 0H2
Marc Kelly – makelly@bdo.ca
Phone: 403.536.8510
Fax: 403.640.0591