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Evergreen Gaming commences insolvency proceedings in Canada and US

Fasken
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Evergreen Gaming

On April 15, 2009, Evergreen Gaming Corporation and Washington Gaming, Inc. and their subsidiaries (the "Petitioners" ) filed a Petition in the Vancouver Registry of the Supreme Court of British Columbia seeking protection from their creditors under the Companies' Creditors Arrangement Act ("CCAA"). An Initial Order was granted by the court on April 16. U.S. Chapter 15 proceedings were initiated on April 16 in the United States Bankruptcy Court for the Western District of Washington and an Interim Order granted on April 17.On July 3, 2009, Grant Thornton Limited was appointed as the Monitor over all of the Petitioners, with the exception of Evergreen Gaming Corporation and Washington Gaming, Inc. Grant Thornton was also appointed Interim Receiver, Receiver and Manager of all assets, undertaking and properties of the Petitioners. Evergreen Gaming is a British Columbia company that, through its numerous subsidiaries, owns lands on which it operates Frank Sisson's Silver Dollar casino in Calgary, Alberta and 17 card rooms in Washington State. Grant Thornton is being advised in relation to its role in these proceedings by a team from Fasken Martineau including John Grieve and Kibben Jackson.

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