Fort St. James FuelCo Limited Partnership and Prince George FuelCo Inc.

Fort St. James FuelCo Limited Partnership and Prince George FuelCo Inc. have been in bankruptcy under the Bankruptcy and Insolvency Act since June 7, 2022, on the petition of Veolia ES Canada Inc., with Deloitte Restructuring Inc. acting as Licensed Insolvency Trustee in the Supreme Court of British Columbia under court files B-220204 and B-220207. The two estates are procedurally and substantively consolidated. The unaudited Statement of Affairs prepared by the Trustee with the former directors shows an estimated deficiency of approximately $65,847,783 on a consolidated basis before costs of realization, with $157,342 owed to third-party unsecured creditors and the balance made up of related-party payables, the largest being $62,899,191 owed to Veolia ES Canada Inc., which issued a notice of default dated May 9, 2022 demanding that sum as of April 30, 2022 plus continuing interest. K&D Logging Ltd. asserts a general security agreement and related letter of credit; the amount is disputed and it will file a secured proof of claim for the Trustee's review.