Court accepts KPMG request to release all funds of the Indigenous-owned chain of retail gas and convenience stores.
Gen7 Fuel now able to focus on expansion plans.
BURLINGTON, ON, May 8, 2024 /CNW/ – The bank accounts of Gen7 Fuel LP (Gen7) and its network of wholly owned Indigenous retail gas and convenience stores have now been officially unfrozen. The action comes after KPMG, the court-appointed Monitor in the Original Traders Energy Ltd’s (OTE) process Companies’ Creditors Arrangement Act (CCAA), requested that court specifically remove Gen7and its associated stations from the legal procedure that empowered the court to seize assets it deemed associated with OTE’s insolvency. As court-appointed Monitor, KMPG is authorized to searc…
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