Green Impact Partners’ and its affiliated business or assets could be sold to help repay creditors.

A court-supervised process has been launched to solicit buyers or investors for debt-laden Green Impact Partners and its affiliated businesses and assets. Ernst & Young announced that it has been appointed as the court’s monitor to oversee the proceedings.

The Alberta Court of King’s Bench granted an amended and restated order, after issuing an initial order under the Companies’ Creditors Arrangement Act (CCAA), providing protection to Green Impact and several related entities.

Collectively, Green Impact operates a network of water-recycling, waste-handling and hydrocarbon-recovery facilities across Alberta and Saskatchewan, serving energy and industrial clients through the processing and disposal of liquid and solid waste. The firm also holds investments in other recycling and energy-related businesses.

As part of the restructuring, the court approved a sale and investment-solicitation process (SISP) to market the companies’ business and assets. The process is intended to attract offers to purchase all or part of the operations, including select asssets, or to secure new investment.

The deadline for qualified bids is currently set for May 28, although it may be extended by the monitor.

Photo: Green Impact Partners