Ontario · NOI
Second Report of the Proposal Trustee dated July 22, 2026
Court officer report · 22 July 2026
What we verified from this filing14 verified
- report date22 July 2026
- report noSecond Report
- cash on handamount: 22000 · currency: USD
- operational summaryThe Proposal Trustee conducted a SISP resulting in four non-qualified bids; the Stalking Horse Agreement with PAL and DHC was declared the Successful Bid, and the Field Entities intend to complete the Stalking Horse Transaction, repay Wells, distribute accrued vacation pay and KERP amounts, and terminate the majority of employees while retaining 37 employees for wind-down activities.
- professional feesamount: 1231000 · currency: USD
- receipts cumulativeamount: 8552000 · currency: USD
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: GST/HST · quote: $12,155.12 · amount: 12155.12 · fees: quote: $93,098.00 · amount: 93098 · total: quote: $105,656.02 · amount: 105656.02 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: $402.90 · amount: 402.9 · period: end: 2026-06-30 · kind: invoice · quote: For professional services rendered for the period ended June 30, 2026 by AlixPartners Restructuring, Inc. · approval: state: unstated · averages: · currency: · invoices: tax: 12155.12 · date: 2026-07-06 · fees: 93098 · quote: Invoice # 1 June 30, 2026 July 6, 2026 $93,098.00 $402.90 $12,155.12 $105,656.02 · total: 105656.02 · period end: 2026-06-30 · disbursements: 402.9; date: 2026-07-16 · fees: 32051.5 · quote: Invoice # 2 July 15, 2026 July 16, 2026 $32,051.50 · period end: 2026-07-15 · firm text: AlixPartners Restructuring, Inc. · firm quote: This report (the ' Second Report ') has been prepared by AlixPartners Restructuring, Inc., 1 in its capacity as the proposal trustee · context quote: in its capacity as the proposal trustee (the ' Proposal Trustee ') of Field Aviation Company Inc.; form: time_summary · rows: · money: approximate: false · period: end: 2026-07-15 · kind: invoice · quote: Schedule of Professionals' Time and Rates For the Period from June 1 to July 15, 2026 · start: 2026-06-01 · approval: state: unstated · averages: rate: 1096.84 · quote: Average hourly rate = $1,096.84 1 · currency: · invoices: · firm text: AlixPartners Restructuring, Inc. · firm quote: For professional services rendered for the period ended July 15, 2026 by AlixPartners Restructuring, Inc. · context quote: Enclosed please find our invoice for services rendered for the period ending July 15, 2026 in respect of the Company's insolvency proceedings under Subsection 50.4(1) of the Bankruptcy and Insolvency Act .; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 679.41 · quote: The average hourly rate of the Proposal Trustee is $679.41. · currency: · invoices: · firm text: AlixPartners Restructuring, Inc. · firm quote: AlixPartners Restructuring, Inc., 1 in its capacity as the proposal trustee · context quote: The average hourly rate of the Proposal Trustee is $679.41.
- operational summaryThe Field Entities are winding down operations following curtailed activity and layoffs, pursuing a stalking horse sale of substantially all assets, and plan to terminate most remaining employees except a small group retained to complete the Draken Program and related wind-down and closing activities.
- professional feesnote: Bennett Jones LLP (counsel to the Proposal Trustee) fees for the same period totalled $125,149.50, excluding disbursements and HST. · party: Proposal Trustee (AlixPartners Restructuring, Inc.) · amount: 122344.25 · period: June 1, 2026 to July 15, 2026 · currency: CAD
- purchaserPAL Aerospace Ltd. and De Havilland Aircraft of Canada Limited
- report date22 July 2026
- report noSecond Report
- sale outcometext: approving the transactions contemplated by the Stalking Horse Agreement · scope: whole_business · status: approved
- stalking horsePAL Aerospace Ltd. and De Havilland Aircraft of Canada Limited