Canada 3000 Airlines and Related Companies

Trade Creditors

Page last updated: February 20, 2007

 

Status as at February 19, 2007


This update is applicable to Canada 3000 Airlines Limited ("Airlines") only and does not apply to claims against any of the other estates.

PricewaterhouseCoopers Inc., in its capacity as trustee in bankruptcy of Airlines (the "Trustee") has now determined that there may be funds available to enable a minimal distribution to Airlines' unsecured creditors. At this time, the rate of the dividend cannot be determined, however the Trustee anticipates a distribution of approximately $0.019 cents on the dollar to creditors with proven claims. The dividend cannot be paid until a review of all unsecured claims has been completed by the Trustee and other statutory requirements have been completed.

The Trustee is in the process of reviewing all of the unsecured claims filed against Airlines' Estate. This process is expected to take several months. Should the Trustee require further information from you to enable your claim to be verified, you will receive correspondence from the Trustee. If you receive notification from the Trustee requesting further information, please forward the information requested, as soon as possible, to:

Canada 3000 Airlines Limited
PricewaterhouseCoopers Inc., Trustee
Suite 3000, Box 82
Royal Trust Tower, TD Centre
Toronto ON Canada M5K 1G8
Attention: Donna Smith

Or,

Clearly address all faxes to Donna Smith

If you are a creditor of Airlines and have not already filed a proof of claim against Airlines' estate, a proof of claim package is attached:

30 KB Trade Creditors Proof of Claim

[as at May 25, 2004]

The Trustee has determined that there will be no funds available for distribution to trade creditors for all the Canada 3000 Group of Companies except in the case of Canada 3000 Airport Services Limited ("Airport Services").

There was a one time dividend payment of 20.36 cent on the dollar to unsecured creditors of Airport Services on May 13, 2004. No further funds are available for distribution to the unsecured creditors.

For employees of Airport Services who have an unsecured claim, please refer to the Employee section of this web site.


All creditors meetings have now been held for all Canada 3000 entities. The dates were as follows:

On December 7, 2001 in Toronto
  • Canada 3000 Airport Services
  • Royal Handling Inc.
  • Canada 3000 Airport Services Limited
On May 14, 2002 in Vancouver
  • C3 Aventure Limitee/C3 Leisure Limited (doing business as Canada 3000 Holidays)
  • Holiday Travel Consultants Ltd. (doing business as Canada 3000 Tickets)
On May 15, 2002 in Toronto
  • Royal Aviation Inc.
  • Canada 3000 Airlines Limited
  • Canada 3000 Sales Limited
  • Canada 3000 Inc.
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