Icarus Power Generation Inc.

Icarus Power Generation Inc. (“IPG”) is a power systems developer and Engineering Procurement and Construction (EPC) firm, developing, designing and building power generation and storage solutions.  On November 23, 2018, IPG filed a Notice of Intention to Make a Proposal to its creditors pursuant to subsection 50.4 (1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the “BIA”) and Dodick Landau Inc. was named Proposal Trustee.  Pursuant to the provisions of subsection 69 (1) of the BIA a stay of proceedings (the “Stay”) has been initiated and all proceedings against IPG are Stayed as of the date of filing of the NOI.  A Proposal was filed by Icarus on December 21, 2018 and a meeting of the creditors of Icarus was held on January 11, 2019.  At the Meeting of Creditors, the Creditors voted in favour of Icarus’ Proposal.  On February 5, 2019 the Court approved the Proposal.