Lone Pine Resources Canada Ltd. (direct and indirect wholly owned…

Lane

Restructuring and insolvency

Announced

09 Jan 2014

Province

Alberta

Industry

Energy — upstream

Status

Closed

Latest event

Discharge

What the filing says

Court order discharging the monitor,

Court file number

1301-11352

Judicial district

Court of Queen's Bench of Alberta Judicial District of Calgary

Proceeding opened

25 Sep 2013

Credits

PricewaterhouseCoopers Inc. (court officer)

DIP facility

$10,000,000 (DIP facility)“The Initial Order, among other things,: granted a stay of proceedings against the Companies and its Directors and Officers until October 24, 2013, or such later date as the Court may order; approved a DIP credit facility, in the amount of $10,000,000, with J.P.”

priority charge

$2,499,272 (KERP Charge)“Morgan Securities L.L.C. on its own behalf and on behalf of a group of lenders (collectively the "DIP Lender") and granted a priority charge (the "DIP Lender's Charge") over the Property of the Applicants to secure repayment of the amounts borrowed by the Applicants under the facility; granted a priority charge over the Property of the Applicants, in the amount of $1,000,000 to secure the fees and disbursements of the Monitor, counsel to the Monitor and the Applicants' counsel (the "Administration Charge"); granted a priority charge over the Property of the Applicants, in the amount of $1,000,”

stay expiry

2013-10-24“The Initial Order, among other things,: granted a stay of proceedings against the Companies and its Directors and Officers until October 24, 2013, or such later date as the Court may order; approved a DIP credit facility, in the amount of $10,000,000, with J.P.”

Source

OSB record of the proceeding

Compiled from public filings, court documents, exchange bulletins and issuer releases. Figures are as disclosed and are not independently verified.

Not financial, investment, legal or tax advice, and not an offer to buy or sell any security. Verify everything before you transact.

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Lone Pine Resources Canada Ltd. (direct and indirect wholly owned subsidiaries;