– Sought court protection after lender demanded repayment
– Gets court protection under CCAA until May 15
– Seeking complimentary relief in Washington
(Reuters) – Canadian casino and hospitality firm Evergreen Gaming Corp said the company and its units have obtained court protection from creditors until May 15, after a lender demanded immediate payment of CAD 30.1 million.
The company said the protection under the Companies‘ Creditors Arrangement Act (CCAA) will stay creditors and others from enforcing any rights against it and will also allow it to restructure its business.
Deloitte & Touche Inc was appointed monitor under the order, Evergreen Gaming said in a statement.
The company is also seeking complimentary relief in the state of Washington in order to permit an overall restructuring.