LogoInsolvency Insider Canada
TOPICS
TOPICS

Assets for sale

Commercial List Users' Committee

Court cases

Creditor notices

Events

Firm News

Insights

Interviews

Open Positions

Recent filings

FILING DATABASE
DOCUMENT LIBRARY
AWARDS
EVENTS
DIRECTORY
Search
SUBSCRIBE
paper-plane-tilt
LogoInsolvency Insider Canada
  • Home
  • Posts
  • JMB Crushing Systems Inc.

JMB Crushing Systems Inc.

Apr 30, 2020

JMB Crushing Systems Inc., a Bonnyville, Alberta-based producer and supplier of aggregates for leading oil field companies, industrial projects and road construction throughout Alberta, along with its holding company, obtained protection under the CCAA on May 1. In 2019, the company encountered issues meeting the cash flow projections delivered to its lenders due to several unforeseen events. These included, among other things, forest fires that delayed completion of a $10.0 million project by more than two months, as well as an uncharacteristically wet summer which led to a 6-month delay of another $10.0 million project that the company had secured. The current pandemic, along with the state of emergency declared by the government of Alberta in March, has complicated the company's ongoing restructuring plans. Since early March, the availability of capital from investors and lenders has dropped precipitously and the pace of business across North America has significantly slowed or in some cases ceased altogether. ATB Financial has agreed to provide up to $900.0 thousand in DIP financing. Counsel is Gowling WLG for the companies, McCarthy Tétrault for the monitor, and Dentons for ATB Financial.

Canada’s insolvency news, in your inbox.

Join 15,000+ readers.

Keep Reading

View more
caret-right

UPCOMING EVENTS

Distressed Private Capital Conference - November 12, 2026

Distressed Private Capital Conference - November 12, 2026

Future Leaders Conference 2026

Future Leaders Conference 2026

Distressed Real Estate Conference - October 21, 2026

Distressed Real Estate Conference - October 21, 2026

LATEST STORIES

Frigid Rentals Inc. - Notice of Sale and Investment Solicitation Process

Frigid Rentals Inc. - Notice of Sale and Investment Solicitation Process

Receiver appointed over Westbank-linked Vancouver rental project

Receiver appointed over Westbank-linked Vancouver rental project

Sunshine Oilsands placed into receivership over mounting environmental liabilities

Sunshine Oilsands placed into receivership over mounting environmental liabilities

Vancouver commercial property placed into receivership over $14.3 million debt

Vancouver commercial property placed into receivership over $14.3 million debt

Insolvency Insider Canada

Insolvency Insider Canada

Essential Canadian insolvency news, trends and legal updates

EXPLORE

About Us / Contact

Advertise