September 20, 2018
Carbecco Design & Construction, a Montreal, Quebec-based construction company, filed an NOI on September 20, listing $5.9MM in liabilities. The company is currently involved, as a general contractor, in two mixed residential and commercial projects. One project is in Montreal, the other is in Calgary. Anticipating discussions and negotiations in the coming weeks with creditors and owners of the projects, and having no experience in an insolvency situation, Carbecco's director applied for an interim receiver to be appointed to assist with these discussions and negotiations. The order was granted and PwC was appointed proposal trustee and interim receiver. The interim receiver's powers include the ability to prepare and file the statutory cash-flow statement and file a proposal on behalf of the company, should the company be unable to do so. Davies is counsel to the company.