CANADIAN SAILING EXPEDITIONS INC - CCAA PROCEEDING

On June 27, 2008, an Initial Application under the Companies' Creditors Arrangement Act ("CCAA") was heard in the Supreme Court of Nova Scotia and the Initial Order was granted by Mr. Justice Gerald R.P. Moir.

Pursuant to Paragraph 11.7(1) of the CCAA, BDO Dunwoody Goodman Rosen Inc. has been appointed as Monitor under the CCAA proceedings.

We hope to communicate information through this website as it becomes available.

Please see "Communications to Creditors" for our initial letter to creditors of June 27, 2008.

COMMUNICATIONS TO CREDITORS

• Letter to Creditors re Approval of Plan of Compromise or Arrangement - February 18, 2009
• Letter to Creditors re Claims Bar Process - August 20, 2008
• Claims Process Order (Including Proof of Claim Form) - August 13, 2008
• Letter to Creditors - June 27, 2008

COURT ORDERS

• Stay Termination Order - November 20, 2009
• Affidavit - Paul Goodman (Monitor) - November 17, 2009
• Stay Extension Order (to December 4, 2009) - Granted September 22, 2009
• Stay Extension Order (to September 21, 2009) - Granted September 21, 2009
• Stay Extension Order (to September 22, 2009) - Granted September 21, 2009
• Order Extending Stay of Termination Date to September 15, 2009 - Granted on September 8, 2009
• Affidavit - Paul Goodman (Monitor) - September 4, 2009
• Stay Extension Order - Granted July 28, 2009
• Submission Letter - June 24, 009 re Application for June 29, 2009 Hearing
• Notice of Motion re June 29, 2009 Hearing
• Affidavit of Douglas Prothero, CSE President, Sworn June 22, 2009
• Submission Letter - June 26, 2009 re Application for June 29, 2009 Hearing
• Affidavit of Gavin MacDonald, Sworn June 26, 2009
• Stay Extension Order - Granted June 29, 2009
• Order Extending the Stay of Termination Date to June 30, 2009 - Granted April 30, 2009
• Order Approving DIP Financing - Granted April 30, 2009
• Sanction Order - Granted March 5, 2009 by Mr. Justice John Murphy
• Affidavit in Support of Sanction Motion re Hearing of March 5, 2009 - Part 1
• Affidavit in Support of Sanction Motion re Hearing of March 5, 2009 - Part 2
• Minutes of Meeting of Creditors - February 18, 2009
• Stay Extension Order - January 21, 2009
• Meeting Order - January 21, 2009
• Order Adjourning Application for Preliminary Approval of Plan of Arrangement and Procedures for a Meeting of Creditors until January 21, 2009 - Granted November 4, 2008
• Order Extending Stay of Termination Date to January 30, 2009 - Granted November 3, 2008
• Order Approving DIP Financing - Granted November 3, 2008
• Affidavit of Douglas Prothero, CSE President, Presenting Proposed Plan of Arrangement - Dated October 31, 2008
• Affidavit of Douglas Prothero, CSE President, in Support of Application re November 3, 2008 Hearing - Dated October 31, 2008
• Submission Letter - October 31, 2008 re Application for November 3, 2008 Hearing and Proposed Plan of Arrangement
• Affidavit of Paul Goodman (the Monitor) dated October 30, 2008 for Hearing of November 3, 2008
• Interlocutory Notice - October 29, 2008
• Submission Letter - October 29, 2008 re Application to Extend Termination Date, for Additional DIP Financing, and Approval of Plan of Arrangement
• Affidavit of CSE's Legal Counsel dated October 29, 2008 for Hearing of November 3, 2008
• Order Extending Termination Date to November 28, 2008 - Granted October 17, 2008
• Affidavit of Douglas Prothero, CSE President, in Support of Application to Extend Stay of Termination Date - October 14, 2008
• Submission Letter - October 14, 2008 re Application to Extend Stay of Termination Date
• Interlocutory Notice - October 14, 2008
• Order Extending the Stay of Termination Date to October 17, 2008 - Granted September 3, 2008
• Submission Letter - August 28, 2008 re Application to Further Extend Stay of Termination Date to and Including October 17, 2008
• Interlocutory Notice - August 28, 2008
• Affidavit of Douglas Prothero, CSE President, in Support of Application to Further Extend Stay of Termination Date to and Including October 17, 2008 - August 28, 2008
• Second DIP Financing Order - August 13, 2008
• Claims Bar Order - August 13, 2008
• Submission Letter - August 8, 2008 re Application for Additional DIP Financing and Application for an Order Establishing Claims Bar Process
• Interlocutory Notice - August 8, 2008
• Affidavit of Douglas Prothero, CSE President, in Support of Application for Additional DIP Financing and Application for an Order Establishing Claims Bar Process
• Order Extending Stay Termination Date to September 3, 2008 - July 25, 2008
• Consent Order - July 24, 2008 (Extending Stay to July 25, 2008 from July 24, 2008 in the Initial Order, Pending Hearing Scheduled for July 25, 2008)
• Submission Letter - July 22, 2008 re Application to Extend Stay of Proceedings
• Interlocutory Notice - July 22, 2008
• Affidavit of Douglas Prothero, CSE President in Support of Application to Extend Stay of Proceedings - July 18, 2008
• DIP Financing Order Granted July 4, 2008
• Interlocutory Notice - June 30, 2008
• Affidavit of Douglas Prothero - June 30, 2008
• Initial Order - June 27, 2008
• Originating Notice (Ex Parte Application re Application for Initial Order) - June 26, 2008
• Affidavit of Douglas Prothero, CSE President in Support of Application for CCAA Initial Order - June 26, 2008 (Part 1)
• Affidavit of Douglas Prothero, CSE President in Support of Application for CCAA Initial Order - June 26, 2008 (Part 2)

MONITOR'S REPORTS

• Ninth Report of Monitor - July 23, 2009
• Eighth Report of Monitor - April 27, 2009
• Monitor's Cash Flow Report re Weeks #29 & #30 (January 12 to January 25, 2009) - January 28, 2009
• Seventh Report of Monitor - January 27, 2009
• Sixth Report of Monitor - January 19, 2009 (Part 1)
• Sixth Report of Monitor - January 19, 2009 (Part 2)
• Fifth Report of Monitor - October 14, 2008
• Fourth Report of Monitor - August 28, 2008 (Part 1)
• Fourth Report of Monitor - August 28, 2008 (Part 2)
• Third Report of Monitor - August 8, 2008 (Part 1)
• Third Report of Monitor - August 8, 2008 (Part 2)
• Second Report of Monitor - July 21, 2008
• First Report of Monitor - July 2, 2008 (Part 1)
• First Report of Monitor - July 2, 2008 (Part 2)

MEETING ORDER MATERIALS

1. Letter to Creditors Sending Meeting Materials - January 27, 2009
2. Notice to Creditors of Meeting
3. Plan of Compromise or Arrangement
4. Monitor's 7th Report
5. Meeting Order (January 21, 2009)
6. Proxy and Voting Letter Including Schedule 1
7. Completion Instructions