Newsco International Energy Services Inc.

NOTICE OF INTENTION TO MAKE A PROPOSAL PROCEEDINGS

On October 20, 2020, Newsco International Energy Services Inc. (the “Company”) filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to the Bankruptcy and Insolvency Act (the “BIA”). BDO Canada Limited has been appointed as the trustee (the “Proposal Trustee”) in respect of the restructuring proceedings (the “Proceedings”).

S. 69(1) of the BIA provides the Company certain relief including the imposition of an initial 30-day Stay of Proceedings (the “Stay”) against the Company and its assets. Claims against the Company for payment of goods and services supplied to the Company prior to October 20, 2020 are suspended and creditors are prohibited from continuing or commencing any actions or exercising any rights against the Company except with leave of the Court of Queen's Bench of Alberta (the “Court”).

On November 19, 2020, the Court extended the time in which the Company must file a proposal and the Stay through to December 23, 2020. On December 18, 2020, the Court further extended the deadline to February 1, 2021.

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.

The NOI and related documents can be found below in the Initial Notification to Creditors package.

Court Filings

Court Orders

Proposal Trustee’s Reports

Service Lists


Contact Us

#110, 5800 – 2nd Street SW
Calgary, Alberta T2H 0H2
Chris Mihalcheon – cmihalcheon@bdo.ca
Phone: 1-250-448-0837

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