On April 22, 2021, the Court of Queen’s Bench of Alberta (the “Court”) granted an Order (the “ Consent Receivership Order”) pursuant to section 243 (1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (the “BIA”) and section 13(2) of the Judicature Act, R.S.A. 2000, whereby Alvarez & Marsal Canada Inc. is hereby appointed Receiver, without security, of all of the Debtor's current and future assets, undertakings and properties of every nature and kind whatsoever, and wherever situate, including all proceeds thereof (the “Property”).

On March 15, 2022, People Express Transport Ltd. (“PETL” or the “Company”) was assigned into bankruptcy by the Receiver as permitted pursuant to the Receivership Order and pursuant to s.49 of the Bankruptcy and Insolvency Act. Alvarez & Marsal Canada Inc. (“A&M”) was appointed as the Licensed Insolvency Trustee (the “Trustee”) of PETL by the Official Receiver, subject to affirmation by the creditors of the Trustee’s appointment or substitution with another trustee by the creditors of the Company.