Discovery Air gets CCAA protection, will sell affiliate stakes
Toronto-based specialty aviation services provider Discovery Air Inc has been granted protection under the Companies' Creditors Arrangement Act (CCAA) and will undertake a court-supervised the sale of its equity interest in affiliate companies and a former defence business. KSV Kofman Inc was appointed as the CCAA monitor. Canadian private equity firm Clairvest Group, which took Discovery Air private in 2017, has submitted bids to buy the company's affiliate interests as a stalking horse purchaser. Clairvest has also agreed to provide funding to Discovery Air as the company begins its restructuring process.
22 March 2018•3 mins read
