On June 14, 2012 Northstar Aerospace Inc., Northstar Aerospace (Canada) Inc., 2007775 Ontario Inc., and 3024308 Nova Scotia Company (collectively, “Northstar Canada”) sought and obtained an Initial Order (the “Initial Order”) under the Companies’ Creditors Arrangement Act (the “CCAA”). Pursuant to the Initial Order, Ernst & Young Inc. (“E&Y” or the “Monitor”) has been appointed Monitor. FTI Consulting Canada Inc. has been appointed Chief Restructuring Officer (“CRO”). The Initial Order also provides for a stay of proceedings against the Applicants, which stay expires on July 14, 2012, subject to further extensions by the Court. Inquiries regarding the CCAA proceeding should be directed to the Monitor (hotline is 855-769-3922 or local 416-943-3889). Information about the Corporation’s CCAA proceeding, including copies of the APA, all Court Orders and the Monitor’s reports, will be available on the Monitor’s website at http://www.ey.com/ca/northstaraerospace .
Also on June 14, 2012, Northstar Canada’s U.S. subsidiaries, Northstar Aerospace (USA) Inc., Northstar Aerospace (Chicago) Inc., Derlan USA Inc. and D-Velco Manufacturing of Arizona, Inc. (“Northstar USA”) filed Chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware. Interested parties can call 708-728-2073 or email email@example.com to ask questions. In addition information will available on the internet at http://www.loganandco.com.