Maritime Fuels Limited Bankruptcy: Proposal Filed and Creditor Meeting Scheduled

TORONTO, Dec. 9, 2024 /CNW/ - PricewaterhouseCoopers Inc., LIT, acting as Trustee in the bankruptcy of Maritime Fuels Limited ("MFL"), has filed a proposal with respect to MFL pursuant to the Bankruptcy and Insolvency Act with the Official Receiver on December 9, 2024. A Meeting of Creditors to vote on the proposal is scheduled for 12 noon (Atlantic time) on Monday, December 20, 2024. The meeting will be held virtually.

Due to the ongoing postal strike, the Trustee has been unable to mail the proposal and supporting documentation to creditors. To ensure timely access to this critical information, the Trustee is taking the following steps:

• The proposal and supporting information is being emailed directly to creditors whose email addresses are on file.
• All relevant documents will also be available for review and download on a dedicated website: www.pwc.com/ca/maritimefuels

Creditors are strongly encouraged to review the proposal and supporting materials as soon as possible. This information outlines the terms of the proposal, the process for attending the Meeting of Creditors, how to vote on the proposal, and details regarding participation in the proposed distribution should the proposal be approved.

This proposal, if approved by creditors and the Court, would result in a small distribution to unsecured creditors holding proven claims against MFL.

The proposal requires approval by the requisite majority unsecured creditors voting by proxy or at the upcoming virtual creditors meeting. Creditors of MFL are encouraged to attend and participate in this process.

Further details regarding the Proposal and Meeting of Creditors, including how to file a proof of claim and any necessary registration procedures, will be communicated directly to creditors via email and posted on the dedicated website.  Any questions with respect to the proposal should be emailed to [email protected] 

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SOURCE PwC Management Services LP

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