Triple J Pipelines (2019) Inc., NOI

Triple J Pipelines (2019) Inc., a Calgary, Alberta-based pipeline construction company, filed an NOI on May 24, followed by NOI filings by three related entities on May 29.

The company has experienced severe financial stress due to unprofitable jobs, an increasing number of construction lien claims, and certain litigation.

Triple J has been unable to raise funds to support its operations and is now insolvent, with approximately $89 million in liabilities, including approximately $68 million owing to unsecured creditors.

B. Riley Farber is the proposal trustee.

Counsel is Gowlings for Triple J, Parlee McLaws for secured creditor Accord Financial and Blakes for the proposal trustee.