Page last updated: November 13, 2019
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On October 30, 2019, the Receiver filed its First Report to the Court seeking, among other things, a sale and vesting order of certain real property, approval of the certain Schendel assets by way of auction, and a proposed interim distribution to ATB Financial. The hearing is scheduled for November 7, 2019. A copy of the First Report and application materials can be found in the Court Reports and Application Materials sections.
On March 22, 2019, Schendel Mechanical Contracting Ltd., Schendel Management Ltd., and 687772 Alberta Ltd. (collectively referred to as the "Companies") filed a Notice of Intention to Make a Proposal ("NOI") under subsection 50.4(1) of the Bankruptcy and Insolvency Act. Subsequently, on April 18, 2019, the NOI Companies applied for and received an Order extending the time to file a Proposal by 45 days.
On June 11, 2019, the Companies applied for and received an Order further extending the time to file a Proposal to July 11, 2019.
On July 10, 2019, the Companies filed a Proposal to their creditors.
On July 19, 2019, the Proposal was deemed to be refused by the creditors and the Companies were deemed bankrupt. In addition, a Receivership Order was granted upon application by ATB Financial. Grant Thornton LLP was named Trustee in Bankruptcy and PricewaterhouseCoopers Inc. was appointed Receiver of the Companies.
A copy of the Receivership Order can be accessed under the Court Orders tab of this website.
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