Bear Creek Contracting Ltd.

Overview

On February 26, 2021, Bear Creek Contracting Ltd. (the “Company”) filed a Notice of Intention to Make a Proposal (“NOI”) pursuant to subsection 50.4(1) of the Bankruptcy and Insolvency Act R.S.C., 1985, c. B-3 (“BIA”) and Crowe MacKay & Company consented to act as Licensed Insolvency Trustee under the Proposal.

Pursuant to subsection 50.4(8) of the BIA, the initial stay period under the NOI proceeding is from February 26, 2021 to March 26, 2021 unless the period is extended by the Court upon application by the Company. During this period, the Trustee will monitor the business of the Company and assist the Company in preparing its Proposal.

On March 9, 2021, the Company made an application to Court to approve, among other things, the granting of an administration charge, sale of redundant or non-material assets, payments to certain creditors and an extension of the time to file a Proposal to May 12, 2021. An Order was granted by the Court on March 14, 2021 approving the aforesaid matters.

On March 29, 2021, the Proposal Trustee made an application to Court to discharge a judgment registered by Burnco Rock Products Ltd. on four contiguous parcels of land adjacent to the Company’s head office. An order was granted by the Court on March 31, 2021 approving the discharge of the aforesaid judgment.

On March 29, 2021, the Company made an application to Court to approve, among other things, that the stay of proceedings (the “Stay”) shall no longer operate in respect to Supreme Court of British Columbia Action Numbers S-188824, S-1913985, S-19790, and S-20005. The application also sought that the proceedings pursuant to the BIA shall be transferred from the Prince Rupert Registry to the Vancouver Registry. An Order was granted by the Court on April 6, 2021 approving the aforesaid matters.

On June 24, 2021, the Company filed a Proposal to its creditors pursuant to the BIA. The Meeting of Creditors to consider the Proposal will be held on Thursday, July 15, 2021 at 10:00AM PST via video conference call. For details pertaining to the meeting, please refer to the Proposal Creditor Package dated June 28, 2021.

On July 14, 2021, the Company made an application to Court seeking, among other things, an order approving the sale of real property owned by the Company and a declaration that the Company owes no amount to Canada Revenue Agency on account of unremitted source deductions. Documents in connection with the application are below.

On July 15, 2021, the Company filed an Amended Proposal to its creditors pursuant to the BIA.

On July 15, 2021, the Amended Proposal was accepted by the requisite majority of the ‘affected creditors’ (as defined in the Amended Proposal) at the meeting of creditors.

On July 16, 2021, the Proposal Trustee submitted its Report to Court on the Company’s Proposal. On the same day, the Proposal Trustee made an application to Court to among other things, implement and complete the Proposal. The hearing was scheduled for Tuesday, September 7, 2021. A copy of the Report to Court on the Company’s Proposal and the Notice of Application are below.

On July 26, 2021, the Honourable Madam Justice Francis granted an Order to, among other things, approve the sale of real property owned by the Company. A copy of the Order is below.

On August 10, 2021, a requisition was filed in Court to reschedule the hearing of the Proposal Trustee’s application scheduled for Tuesday, September 7, 2021 to, among other things, approve the Proposal, to Tuesday, August 31, 2021 at 10:00AM PST before the Honourable Mr. Justice Walker. A copy of the Requisition and Notice of Hearing of Application for Court Approval of Proposal (Form 40.1) is below.

On August 31, 2021, the Honourable Mr. Justice Walker granted an Order to, among other things, authorize and direct the Proposal Trustee, Company and the directors of the Company to take all actions and steps necessary or appropriate to implement and complete the Amended Proposal. A copy of the Order is below.

On November 28, 2022, the Proposal Trustee issued and filed with the Superintendent of Bankruptcy the Certificate of Full Performance of Proposal. A copy of same can be found below.

For further information, please contact Mr. Derek Lai at derek.lai@crowemackay.ca or Mr. Nelson Allan at nelson.allan@crowemackay.ca.

Creditor’s Information

Certificate of Filing Creditors Package – Notice of Intention to Make a Proposal

Proposal Creditor Package dated June 28, 2021

Proposal Trustee’s Report on the Proposal dated June 24, 2021

Certificate of Filing a Proposal

Proof of Claim Proxy

Voting Letter

Convenience Creditor Election Form

Letter to Creditors Regarding Revised Estimated Realization Schedule date July 7, 2021

Amended Proposal dated July 15, 2021

Notice of Hearing of Application for Court Approval of Proposal (Form 40.1)

Certificate of Full Performance of Proposal issued November 28, 2022

Court Documents

Notice of Application dated March 9, 2021

Affidavit #1 of Ian Munson

Trustee’s First Report to Court dated March 9, 2021

Order Made After Application dated March 15, 2021

Notice of Application dated March 29, 2021

Order Made After Application dated March 31, 2021

Notice of Application dated March 29, 2021

Order Made After Application dated April 6, 2021

Notice of Application date May 6, 2021

Affidavit #2 of Ian Munson

Trustee’s Second Report to Court dated May 7, 2021

Order Made After Application dated May 12, 2021

Notice of Application dated July 14, 2021

Affidavit #3 of Ian Munson

Trustee’s Third Report to Court dated July 13, 2021

Trustee’s Report to Court on the Company’s Proposal dated July 16, 2021

Notice of Application dated July 16, 2021

Order Made After Application (Initial Order Variation) dated July 26, 2021

Order Made After Application (Approval and Vesting) dated July 26, 2021

Requisition filed on August 10, 2021

Order Made After Application (re: Proposal) dated August 31, 2021

Order Made After Application (re: amending April 6th Order) dated August 31, 2021

Notice of Application filed August 12, 2022

Trustee’s Fourth Report to Court dated August 12, 2022

Affidavit #5 of Ian Munson (sworn)

Order Made After Application (re: amending proposal) entered August 19, 2022

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