INFORMATION UPDATE -April 4, 2012
The Aveos CCAA Process
The purpose of this document is to give you an update about the process under the Companies’ Creditors Arrangement Act (CCAA).
Background
What is the CCAA?
The usual purpose of the CCAA is to give an insolvent company an alternative to going bankrupt and shutting its doors for good. During the process, a “stay” is put in place which stops creditors from trying to recover what they are owed while the Company restructures.
