Friday, August 05, 2016 3:42:07 PM
* MBAC announces filing under companies' creditors arrangement act in connection with the previously announced recapitalization transaction
* Applicants seeking appointment of Ernst & Young Inc as monitor to monitor business and affairs of applicants during CCAA process
* Co, co's units seeking appointment of Ernst & Young Inc. As monitor to monitor business and affairs of applicants during CCAA process
* Co, Unit filed application in connection with implementation of deal similar to that previously announced to reduce debt, increase financial flexibility
* Unsecured creditors of co to get either combination of restructured debt of MBAC, shares of mbac or 5.5 pct of their claim in cash
* MBAC will indirectly acquire all of shares of GB Minerals Ltd and Stonegate Agricom Ltd
* Operations of MBAC, its units intended to continue as usual, suppliers during restructuring process expected to be met in ordinary course Source text for Eikon: Further company coverage:
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