Altek Industrial Supply Ltd.

CCAA

^{Page last updated: October 13, 2024}

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.

Status of file as of July 5, 2024

Pursuant to the authority granted in the ARIO, PricewaterhouseCoopers Inc., in its capacity as the Monitor of Altek, is seeking offers to purchase all or part of the Altek assets and business operations (collectively referred to as the "Assets"). Note, the Monitor is seeking offers for the assets of Altek, not the Altek Group. The Monitor has prepared a data room that contains, among other items, a confidential information memorandum ("CIM"), historical financial information, and inventory, accounts receivable, and asset listings. Prior to obtaining access to the secured data room, the Monitor requires completion of a non-disclosure agreement ("NDA"). For a copy of the NDA, please contact Nicole Carreau directly.   

Following the execution of the NDA, you will be provided with the CIM and access to the secured data room. Tours of the Assets will commence on Thursday, July 11, 2024. 

Any offers to purchase all or part of the Assets must be submitted to the Monitor by 4:00PM MST on Monday, July 22, 2024.

For any inquiries or additional information, please contact Nicole Carreau.

Status of file as of May 31, 2024

On May 31, 2024, the Court of King's Bench issued the Amended and Restated Initial Order ("ARIO") which, among other things, extended the stay of proceedings until August 23, 2024. We refer you to the Amended and Restated Initial Order dated May 31, 2024 for further information.

Status of file as of May 24, 2024

On May 24, 2024, Canadian Imperial Bank of Commerce sought and obtained an initial order (the “Initial Order”) under the Companies’ Creditors Arrangement Act from the Court of King’s Bench of Alberta. Pursuant to the Initial order, PricewaterhouseCoopers Inc., LIT was appointed as Monitor of Altek Industrial Supply Ltd., Altek USA Holdings Corp., Altek Supply USA Inc., HDIM Protective Coatings Inc., and 610461 Alberta Ltd. (collectively, the “Companies”).