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On Sept. 4, 2018, Great Slave Helicopters Ltd. (GSH) was granted protection under the Companies’ Creditors Arrangement Act (CCAA) pursuant to an order (the Initial Order) of the Ontario Superior Court of Justice. Pursuant to the Initial Order, KSV Kofman Inc. was appointed as the CCAA monitor.
On Sept. 14, 2018, the court granted an order approving a sale and investment solicitation process (SISP) for the solicitation of offers to purchase some or all of GSH’s business or assets or to invest in GSH. Pursuant to the SISP order, the monitor will conduct and oversee the SISP.
Under the SISP, interested parties must submit qualified bids by no later than 5 p.m. (EST) on Oct. 17, 2018. It is expected that court approval of the final transactions will be sought shortly after the acceptance of the successful bid or bids and that closing will occur no later than Nov. 23, 2018.
A copy of the SISP order and other court materials and information related to GSH’s CCAA proceedings are available on the monitor’s website.