Pipeline Mechanical Inc.

In Receivership

Page last updated: February 27, 2013

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.

Status of file as of February 21, 2013

On October 17, 2012, PricewaterhouseCoopers Inc. was appointed Receiver of the Company by private appointment by HSBC Bank Canada.

On February 21, 2013 PricewaterhouseCoopers Inc. was appointed Court appointed Receiver and Manager of Pipeline Mechanical Inc. by The Supreme Court of British Columbia. This appointment supersedes the October 17, 2012 private receivership appointment of PricewaterhouseCoopers Inc. by HSBC Bank Canada.

During the course of the Private Appointment, PricewaterhouseCoopers Inc. took possession of all available chattel assets and conducted a sales program in order to realise same for the benefit of the receivership. This process resulted in the realisation of the following asset groups;

  1. Inventory;
  2. Motor vehicles;
  3. Office equipment; and
  4. Partial equipment.

Furthermore, amongst other things, the Receiver has been attempting to crystallise all outstanding Company accounts receivable and deal with all priority claims within a receivership.

The primary purpose of the Court Appointed Receiver is to now deal with the Company real property and conduct a marketing campaign to realise this asset for the benefit of the receivership.

Further information will be posted as it becomes available.

For more information, please contact: Paul Quill, Telephone: +1 604 806 7168, or via Email.

Contact us

Paul R. Quill

Tel: +1 604 806 7168

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