 |
|
Oilweek Magazine
|
 |
Oilweek subscribers can click on the cover to access their full-version digital copy of the current edition of the magazine.
|
|
| |
| Subscribe Now! |
| |
 |
|
| |
Click here to view a free sample digital edition of Oilweek magazine. As a paid subscriber, all issues of the magazine, including back issues, are online for you to read, search, and reference. |
|
|
| |
|
|
|
|
Latest Headlines
|
|
|
Dec 14, 2009 10:16:00 AM MST
Impax Energy to sell energy services companies for C$12.5 million under CCAA restructuring plan (Impax-Energy)
|
|
CALGARY _ Impax Energy Services Income Trust (TSXV:MPX.UN), a Calgary based oil and gas services company, plans to sell three companies to its former president and CEO and partners under a bankruptcy restructuring plan.
The pricetag of the purchases is C$12.5 million.
Impax shares were halted on the TSX Venture Exchange pending the news.
The company said Monday it had struck a deal to sell the operating assets of McClelland Oilfield Rentals Limited Partnership, EGOC Enviro Group Limited Partnership and Dwayne Hommy Trucking Limited Partnership to a company controlled by William McClelland, former president and CEO of Impax, and two other partners.
The proposed transaction will have an effective date of Dec. 1
The deal is part of a planned restructuring by Impax under the federal Companies´ Creditors Arrangement Act (Canada).
"Impax has made this decision with the unanimous authorization of the board of directors of Impax Energy Services Ltd. and board of trustees of Impax after thorough consultation, extensive consideration of all other alternatives and discussions with its secured lenders," the company said.
|
|
|
|
|
|
|
