On May 15, 2020, ENTREC Corporation, Capstan Hauling Ltd., ENTREC Alberta Ltd., ENT Capital Corp., ENTREC Cranes & Heavy Haul Inc., ENTREC Holdings Inc., ENT Oilfield Group Ltd., and ENTREC Services Ltd. (collectively, “ENTREC”), were granted an initial order (the “Initial Order”) to commence proceedings (the “CCAA Proceedings”) under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”). Pursuant to the Initial Order, Alvarez & Marsal Canada Inc. was appointed as monitor (the “Monitor” or “A&M”) in the CCAA Proceedings.

The Initial Order granted a stay of proceedings until May 25, 2020 (the “Stay Period”) and provided that the during the Stay Period, no proceedings may be commenced against or in respect of ENTREC.

On May 15, 2020, the Monitor, as foreign representative, filed petitions for each of the Applicants under Chapter 15 of the U.S. Bankruptcy Code (the “U.S. Proceedings”) in the United States Bankruptcy Court for the Southern District of Texas (the “U.S. Court”), Jointly Administered Case No. 20-32643. On May 15, 2020, the U.S. Court in the U.S. Proceedings entered an order granting provisional relief providing that the Initial Order is given full force and effect in all respects on an interim basis, including, without limitation, with respect to property of the Applicants located in the U.S. Information regarding the U.S. Proceedings is available on the website of the U.S. notice agent at https://cases.stretto.com/entrec.

The Monitor was discharged effective April 18, 2024.