Insolvabilité et restructuration

Delphi Energy Corp. in its restructuring transaction under the CCAA

Delphi Energy Corp.
Personnes-ressources
Andrea Whyte, c.r.

Associée, Droit des sociétés, Calgary

Équipe
Randal Van de Mosselaer

Associé, insolvabilité et restructuration, Calgary

Jagriti Singh

Sociétaire, Droit de la construction, Toronto

Mary Angela Rowe

Sociétaire, Recherche, Toronto

Emily Paplawski

Associée, Litiges, Calgary

Lia Bruschetta

Associée, Litiges, Toronto

Kelsey Armstrong

Associée, Droit des sociétés, Calgary

Janice Buckingham, c.r.

Associée, Énergie, Calgary

Tracy Sandler

Associée, Insolvabilité et restructuration, Toronto

Rob Lando

Associé directeur du bureau de New York, New York

Roger Gillott

Associé, Litiges, Toronto

Colena Der

Associée, Fiscalité, Calgary

 

On October 16, 2020, Delphi Energy Corp. completed a corporate restructuring implemented pursuant to a plan of compromise and arrangement under the Companies’ Creditors Arrangement Act and the Canada Business Corporations Act (the Plan). Under the Plan, among other things, Delphi’s indebtedness was reduced by approximately $176.0 million and Delphi issued a new class of shares to its secured creditors in settlement of amounts owing to them. Delphi emerged debt free with access to over $70 million of capital and liquidity, through a combination of new equity investment and a new $30 million senior secured revolving credit facility issued by ATB Financial. 

Delphi Energy Corp. is a junior E&P producer of liquids-rich natural gas. The company primarily holds interests in Montney assets located in the Deep Basin of Northwest Alberta. The company is headquartered in Calgary, Alberta.

Osler, Hoskin & Harcourt LLP advised Delphi Energy Corp. with a team led by Andrea Whyte (Corporate) and including Tracy Sandler, Randal Van de Mosselaer, Emily Paplawski (Insolvency & Restructuring), Shelley Obal, Mary Angela Rowe (Research), Kelsey Armstrong, Lindsay Hofer (Corporate), Janice Buckingham, Storme Mckop (Energy – Oil & Gas), Lorne Carson, Allan Morgan, Luke Stretch (Financial Services), Colena Der (Taxation), Roger Gillott, Jagriti Singh (Construction), Melanie Gaston, Lia Bruschetta (Litigation) and Rob Lando (U.S. Cross Border).

Valeur
-
Date de clôture
16 octobre 2020
Bureau Principal
Calgary
Personnes-ressources
Andrea Whyte, c.r.

Associée, Droit des sociétés, Calgary

Équipe
Randal Van de Mosselaer

Associé, insolvabilité et restructuration, Calgary

Jagriti Singh

Sociétaire, Droit de la construction, Toronto

Mary Angela Rowe

Sociétaire, Recherche, Toronto

Emily Paplawski

Associée, Litiges, Calgary

Lia Bruschetta

Associée, Litiges, Toronto

Kelsey Armstrong

Associée, Droit des sociétés, Calgary

Janice Buckingham, c.r.

Associée, Énergie, Calgary

Tracy Sandler

Associée, Insolvabilité et restructuration, Toronto

Rob Lando

Associé directeur du bureau de New York, New York

Roger Gillott

Associé, Litiges, Toronto

Colena Der

Associée, Fiscalité, Calgary