on Canada Jetlines Ltd (NASDAQ:CJET.NE)
Canada Jetlines Makes Voluntary Assignment into Bankruptcy
Canada Jetlines Operations Ltd. (Cboe CA:CJET) has voluntarily entered bankruptcy for the benefit of its creditors. The process follows section 49 of the Bankruptcy and Insolvency Act (Canada) ("BIA").
BDO Canada Limited will act as the Licensed Insolvency Trustee. They will manage the company's assets per BIA guidelines. Dentons Canada LLP serves as the legal counsel for Canada Jetlines.
Creditors will receive a notice of bankruptcy soon. The notice will also provide details of the initial meeting of creditors.
R. H.
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