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Advance Engineered Products Ltd. files for CCAA protection

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Confidential Client

On April 10, 2015, Advance Engineered Products Ltd. (“AEPL”) filed with the Court of Queen's Bench of Saskatchewan, Judicial Centre of Saskatoon, (the "Court") for protection from its creditors under the Companies' Creditors Arrangement Act ("CCAA").  Fasken Martineau is acting for a syndicate of lenders comprising the Royal Bank of Canada, Bank of Montreal and Canadian Western Bank in respect of a $70,000,000 loan facility in the creditor driven CCAA of AEPL. The CCAA proceedings remain ongoing and the stay of proceedings has been extended until April 30, 2016. Advance Engineered Products Ltd. is a specialist manufacturer of tanker and vacuum trucks with approximately 1000 employees and facilities in British Columbia, Alberta, Saskatchewan and Québec. Fasken Martineau is acting for the lenders, with an insolvency and restructuring team led by John Grieve, and includes, Travis Lysak, Brent Lewis, Theo Fong and Danielle Toigo.


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