Ontario · NOI

First Report of the Proposal Trustee dated June 10, 2026

Court officer report · 10 June 2026

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What we verified from this filing8 verified

report date10 June 2026
report noFirst Report
operational summaryField Canada, the primary operating entity, experienced a sustained business decline since 2020 due to COVID-19, loss of its Calgary parts manufacturing business, operational disruption, and increased occupancy costs, culminating in default under its Credit Agreement, a liquidity crisis, and temporary layoff of nearly all employees; the Field Entities filed NOIs to restructure via the Draken Accommodation Agreement, DIP Facility, Stalking Horse Agreement and SISP to preserve going concern value and maximize stakeholder recoveries.
professional feesamount: 1405000 · currency: USD
receipts cumulativeamount: 8701000 · currency: USD
purchaserDHC; PAL
sale outcometext: SISP and Stalking Horse Agreement proposed for Court approval, no auction yet completed · scope: whole_business · status: pending_approval
stalking horsePAL Aerospace Ltd. and De Havilland Aircraft of Canada Limited (6500000)