On October 2, 2019 Bellatrix Exploration Ltd. applied for and received an order for protection pursuant to the Companies’ Creditors Arrangement Act (“CCAA”), from the Court of Queen’s Bench of Alberta. The Initial Order includes a stay of proceedings against the Company and the appointment of PricewaterhouseCoopers Inc. as monitor.
On June 1, 2020 Bellatrix Exploration Ltd. announced the closing of its sale transaction approved by the Court of Queen’s Bench of Alberta on May 8, 2020 in Bellatrix’s proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”). As a result, Spartan Delta Corp. has acquired substantially all of Bellatrix’s assets relating to its oil and gas business.
More information and publicly filed materials are made available on the website of PricewaterhouseCoopers Inc., the Court-appointed monitor in the CCAA proceedings, at http://www.pwc.com/ca/bellatrix.