HARBOUR GRACE, NL, Nov. 17, 2023 /CNW/ – Harbour Grace Ocean Enterprises (“HGOE” or the “Company“), the marine vessel repair, refit and construction business based in Harbour Grace, Newfoundland and Labrador, announces that it obtained an Amended and Restated Initial Order (“ARIO“) from the Supreme Court of Newfoundland and Labrador (the “Court“) on November 17, 2023.
The Company initiated restructuring proceedings under the Companies’ Creditors Arrangement Act (the “CCAA“) on November 2, 2023, on which date the Court granted the Company’s application for an Initial Order. The ARIO expands on the Initial Order by notably extending the stay of proceedings to February 9, 2024 and approving the Company’s $1 million interim financing faci…
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