Atlantic Crane Group

Atlantic Crane Group remains in proceedings begun 16 June 2021 under section 50.4 of the Bankruptcy and Insolvency Act, filed in the Supreme Court of Nova Scotia in Bankruptcy and Insolvency under court file 44783. The notice of intention covers Atlantic Crane & Material Handling Limited, Labrador Cranes 2005 Limited and LCB Rentals Limited. The companies have advised that they will operate within the limits of their existing Toronto-Dominion Bank operating facility, and discussions have been held with counsel for the Bank of Montreal concerning that bank's interests in the companies and the insolvency proceedings. A stalking horse asset purchase agreement sets a purchase price of $1,250,000 plus payment or assumption of sums owing to the Business Development Bank of Canada secured by its mortgage over LCB Rentals Limited's real property.