Davie Yards Welcomes the Creation of Dedicated Shipyards
Lévis, Québec, June 3, 2010 – Davie Yards (“Davie” or the “Corporation”) welcomes the announcement of the National Shipbuilding Procurement Strategy by the Government of Canada creating dedicated shipyards for the construction of the large ships included in the federal fleet renewal program. “We are pleased that the government is moving forward with this strategy that will ensure a balanced workload in the shipyards for the years to come and help develop a strong expertise in shipbuilding in Canada. This is good news for Davie and the entire Canadian marine industry”, said the President and CEO of Davie, Mr. Gustav Johan Nydal.
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Davie Yards Obtains a Second Extension of CCAA order
Lévis, Québec, May 21, 2010 – Davie Yards ("Davie" or the "Corporation") announced today that it has obtained an order from the Québec Superior Court (the ‘’Court’’) extending the stay of proceedings ordered by the Court to September 15, 201, in accordance with the terms of the written order to be issued by the Court, the whole pursuant to the Companies' Creditors Arrangement Act ("CCAA"). The extension will allow Davie to continue its restructuring efforts, to negotiate with potential investors, and to develop and eventually submit a plan of arrangement to its creditors under CCAA.
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Davie Yards Obtains an Extension of CCAA Stay Order
Lévis, Québec, March 26, 2010 – Davie Yards (“Davie” or the “Corporation”) (TSX:DAV) announced today that it has obtained an order from the Québec Superior Court (the ‘’Court’’) extending the stay of proceedings ordered by the Court to May 25, 2010, the whole pursuant to the Companies' Creditors Arrangement Act (“CCAA”). The extension will allow Davie to continue its efforts to develop and eventually submit a plan of arrangement to its creditors under CCAA.
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