Xebec Adsorption Inc., a global provider of sustainable gas solutions, announced its filing under the Companies' Creditors Arrangement Act (CCAA) as approved by the Superior Court of Québec. The company, along with its Canadian and U.S. subsidiaries, received protection under the CCAA, with Deloitte Restructuring Inc. appointed as the monitor to aid in restructuring efforts. The Court also sanctioned a Sale and Investment Solicitation Process (SISP) to maximize value for stakeholders, managed with the help of National Bank Financial Inc. as the financial advisor. The SISP aims to attract sale or investment in the corporation's assets and business segments, requiring interested parties to adhere to specific bidding procedures. Deadlines for non-binding letters of intent were set for November 11, 2022, with binding bids due by January 6, 2023. Following this announcement, the Toronto Stock Exchange suspended trading of Xebec’s shares and initiated a delisting review. Xebec has committed to updating stakeholders on further developments. Legal guidance for the CCAA and Chapter 15 proceedings, alongside the SISP, is provided by Osler, Hoskin & Harcourt LLP and McDonald Hopkins LLC, with National Bank Financial Inc. serving as the financial advisor.