Latest news with #Court-approved
Cision Canada
28-05-2025
- Business
- Cision Canada
PRICEWATERHOUSECOOPERS INC., LIT, THE COURT-APPOINTED MONITOR OF STS RENEWABLES LTD., EARTH DRILLING CO. LTD., ON TRACK DRILLING INC., STS RENEWABLES EARTH USA ACQUISITION CO. LTD., EARTH DRILLING CO. LTD., HARRIS EXPLORATION DRILLING & ASSOCIATES, INC., SUBTERRA CAPITAL PARTNERS INC., SUBTERRA DEVELOPMENT LTD., AND SUBTERRA CAPITAL PARTNERS US INC. LAUNCHES A SALE AND INVESTMENT SOLICITATION PROCESS
TORONTO, May 27, 2025 /CNW/ - PricewaterhouseCoopers Inc., LIT (" PwC"), in its capacity as the Court-appointed monitor (the " Monitor") of STS Renewables Ltd., Earth Drilling Co. Ltd., On Track Drilling Inc., STS Renewables Earth USA Acquisition Co. Ltd., Earth Drilling Co. Ltd., Harris Exploration Drilling & Associates, Inc., Subterra Capital Partners Inc., Subterra Development Ltd., and Subterra Capital Partners US Inc. (collectively the " Companies") has launched a Court-approved sale and investment solicitation process to solicit proposals to purchase or invest in some or all of the assets, properties and undertakings and/or business of the Companies. The Companies are a vertically-integrated geothermal energy system developer that provides renewable heating and cooling to muti-residential building developers. Earth Drilling Co. Ltd., Harris Exploration Drilling & Associates, Inc. and On Track Drilling Inc., are also engaged in the business of providing drilling services to oil and gas, mineral exploration and environmental and geotechnical industries. In order to obtain detailed information on the Companies, interested parties will be required to sign a non-disclosure agreement. For further information, please refer to or contact at [email protected]. PricewaterhouseCoopers Inc., LIT Monitor of the Companies 18 York Street, Suite 2500 Toronto, ON M5J 0B2 Email: [email protected]
Yahoo
28-05-2025
- Business
- Yahoo
PRICEWATERHOUSECOOPERS INC., LIT, THE COURT-APPOINTED MONITOR OF STS RENEWABLES LTD., EARTH DRILLING CO. LTD., ON TRACK DRILLING INC., STS RENEWABLES EARTH USA ACQUISITION CO. LTD., EARTH DRILLING CO. LTD., HARRIS EXPLORATION DRILLING & ASSOCIATES, INC., SUBTERRA CAPITAL PARTNERS INC., SUBTERRA DEVELOPMENT LTD., AND SUBTERRA CAPITAL PARTNERS US INC. LAUNCHES A SALE AND INVESTMENT SOLICITATION PROCESS
TORONTO, May 27, 2025 /CNW/ - PricewaterhouseCoopers Inc., LIT ("PwC"), in its capacity as the Court-appointed monitor (the "Monitor") of STS Renewables Ltd., Earth Drilling Co. Ltd., On Track Drilling Inc., STS Renewables Earth USA Acquisition Co. Ltd., Earth Drilling Co. Ltd., Harris Exploration Drilling & Associates, Inc., Subterra Capital Partners Inc., Subterra Development Ltd., and Subterra Capital Partners US Inc. (collectively the "Companies") has launched a Court-approved sale and investment solicitation process to solicit proposals to purchase or invest in some or all of the assets, properties and undertakings and/or business of the Companies. The Companies are a vertically-integrated geothermal energy system developer that provides renewable heating and cooling to muti-residential building developers. Earth Drilling Co. Ltd., Harris Exploration Drilling & Associates, Inc. and On Track Drilling Inc., are also engaged in the business of providing drilling services to oil and gas, mineral exploration and environmental and geotechnical industries. In order to obtain detailed information on the Companies, interested parties will be required to sign a non-disclosure agreement. For further information, please refer to or contact at ca_stsrenewables@ PricewaterhouseCoopers Inc., LITMonitor of the Companies18 York Street, Suite 2500Toronto, ON M5J 0B2 Email: ca_stsrenewables@ SOURCE PwC Management Services LP View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
15-05-2025
- Business
- Business Wire
Hudson's Bay Announces Agreement to Sell its Intellectual Property and Brand Assets
TORONTO--(BUSINESS WIRE)--Hudson's Bay Company ULC (' Hudson's Bay ' or the ' Company '), as part of its ongoing restructuring under the Companies' Creditors Arrangement Act (' CCAA '), today announced that it has entered into a definitive agreement to sell its intellectual property portfolio, including the HBC Stripes and other brand assets, to Canadian Tire Corporation. 'We are grateful that the HBC brand has found a home with another heritage retailer that encapsulates the uniquely authentic Canadian experience,' said Liz Rodbell, President and CEO, Hudson's Bay. 'I have no doubt they will be strong stewards of the more than 350-year HBC legacy as they move our iconic brands forward.' The agreement is the result of the previously announced sale and investment solicitation process approved by the Ontario Superior Court of Justice (Commercial List) (the ' Court '), whereby the Company sought sale proposals and investment proposals from qualified bidders in respect of the Company's property and business. Following careful evaluation of final qualified bids, the board of directors of the Company, in consultation with Reflect Advisors, LLC, in its capacity as the Company's financial advisor, certain of the Company's senior lenders and the Court-appointed monitor (the ' Monitor ') of the Company, have determined that entering into the transaction is in the best interests of the Company and its stakeholders. The agreement is subject to Court-approval and other customary terms and conditions, and is expected to close in the summer of 2025. The purchase price for the intellectual property portfolio is $30,001,670, and the sale excludes the Company's art and artifacts which will be subject to a separate Court-approved process. The sale and investment solicitation process and lease monetization process remain ongoing and updates will be provided as appropriate. About Hudson's Bay Company ULC Hudson's Bay Company ULC is a Canadian entity that includes the retail company Hudson's Bay, comprising approximately 79 stores which are in the process of being liquidated in accordance with the CCAA proceedings. Court filings as well as other information related to Hudson's Bay Company's CCAA proceedings will be available on the Monitor's website at Information regarding the CCAA proceedings may also be obtained by calling the Monitor's hotline at (416) 847-5157 (toll free), or by email at hudsonsbay@ Hudson's Bay will continue to provide updates regarding the CCAA proceedings as developments or circumstances may warrant.
