Westphalia Dev Corp - Status Updates

On January 14, 2025, Westphalia Dev. Corp. (the "Applicant" or "WDC") sought and obtained an initial order (the "Initial Order") from the Court of King's Bench of Alberta (the "Court") under the Companies Creditors Arrangement Act R.S.C. 1985, c. C-36, as amended ("CCAA"). The Initial Order provides, among other things, a stay of proceedings which may be extended from time to time. Pursuant to the Initial Order, FTI Consulting Canada Inc. was appointed monitor ("Monitor") of the Applicant. Under the Initial Order the Applicant was granted a Stay Period until and including January 24, 2025. Accordingly, a comeback hearing ("Comeback Hearing") is to be scheduled to be heard by the Court on January 23, 2025, where it will hear arguments with respect to the relief granted in the Initial Order.