Groupe Airmedic seeks CCAA protection amid $106 million debt crisis

Company

Groupe Airmedic

Law Firm / Organization
Osler, Hoskin & Harcourt LLP

Company

Deloitte Restructuring Inc.

Law Firm / Organization
Norton Rose Fulbright Canada LLP

Bank

Laurentian Bank of Canada

Law Firm / Organization
McCarthy Tétrault LLP

Company

Fiera Capital Corporation

Law Firm / Organization
McCarthy Tétrault LLP

Groupe Airmedic, Québec's sole private provider of emergency airborne and land medical assistance and transportation, secured CCAA protection on July 13, following an application by two secured creditors. Amidst financial struggles, with debts totaling approximately $106 million—$65 million of which were secured—Deloitte was appointed as the Monitor, equipped with expanded powers to ensure Groupe Airmedic's ongoing operations and to oversee its restructuring efforts. This move aimed at preserving the company's ability to operate on a going-concern basis, preventing operational disruptions. The legal landscape surrounding this development saw Norton Rose Fulbright representing Deloitte, McCarthy acting as counsel for Laurentian Bank of Canada and Fiera, and Osler serving as counsel for the companies involved.

Other
Transportation
$ 106,000,000
Active