Antler Creek Contracting continues restructuring under CCAA after asset sale delay

Antler Creek Contracting Ltd., a northern British Columbia logging contractor, has transitioned its restructuring from the Bankruptcy and Insolvency Act to the Companies’ Creditors Arrangement Act after court approval of a sale transaction failed to close on schedule.

The company originally filed a Notice of Intention to Make a Proposal on April 14, 2025, amid liquidity pressures from high equipment costs and tax arrears. Crowe MacKay & Company Ltd., acting first as proposal trustee and now as monitor, ran a court-approved sales and investment solicitation process that drew five bids. The winning offer came from related party 1556275 B.C. Ltd., with a total value of about $9 million including assumed secured debt and cash to satisfy a $2 million CRA deemed-trust claim. The structure required a reverse vesting order to preserve timber licences and tax attributes. Justice Weatherill approved the transaction and continued the proceeding under the CCAA effective October 14, 2025, maintaining the interim financing and administration charges.

When the purchaser’s financing fell through, the court on October 29 extended the stay of proceedings to November 28 to allow completion. According to the monitor’s first report, the $300,000 deposit was released to fund operations while alternative financing was arranged, and Antler Creek remains current on post-filing obligations with sufficient liquidity to bridge to closing.

The company is represented by Fasken Martineau DuMoulin LLP, while Crowe MacKay & Company Ltd. continues as monitor under the oversight of McCarthy Tétrault LLP as its counsel. Lawson Lundell LLP represents the purchaser, 1556275 B.C. Ltd.