June 18, 2021

Filing Type:

Trustee: MNP



Alaska - Alberta Railway Development Corporation ("A2A Rail"), 7198362 Manitoba Ltd. and 12703131 Canada Ltd., which intended to build a new railway connecting northern Alberta to Alaska, each filed an NOI on June 18. The move comes after A2A Rail’s main lender, Bridging Finance, was placed in receivership by the Ontario Securities Commission on April 30. Earlier this month, PwC, the court appointed receiver of Bridging Finance, called a $149 million CDN loan made to A2A Rail by Bridging Finance, which spurred the NOI filings. While under creditor protection, the company intends to pursue a court supervised sale or refinancing.These proceedings come less than nine months after Donald Trump granted a presidential permit for the $18 billion (USD) railway project. MNP is the proposal trustee.