Orbite seeks stay of proceedings amid worsening finances
Published: Tuesday, 04 April 2017
Production operations will be suspended at the Cap-Chat HPA facility while the company assesses options to restructure its debt.
Canadian high-purity alumina (HPA) producer Orbite
Technologies Inc. announced it has filed for stay of
proceedings on creditors under the Bankruptcy and Insolvency
Act, as the company’s debt burden became difficult
to manage under current circumstances.
Orbite’s decision to enter the process
– aimed at preventing the insolvency from...