Hydrogen fuel cell company delisted from TSX, seeks to reorganize
Three and a half year years after it raised $100 million in an initial public offering, Vancouver hydrogen fuel cell maker Loop Energy has sought creditor protection while it attempts to reorganize or arrange a sale of the company and its assets.
According to a notice to creditors by the company’s insolvency trustee, Crowe MacKay and Co., Loop is not in receivership and has not filed for bankruptcy. Rather it filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act of Canada. One of the lenders for an interim financing proposal is Chilliwack-based Teralta Hydrogen Solutions, according to BC Supreme Court documents.
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