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  CTA Home :
Rulings : Interlocutory Decisions : 2004 Interlocutory Decisions : 20042004-09-03 LET-A-247-2004 File Nos. M4161/A74
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| Re: | Canadian status of ACE Aviation Holdings Inc. (ACE) and its subsidiaries Air Canada, Jazz Air Limited Partnership, as represented by its general partner Jazz Air General Partner Inc. carrying on business as Air Canada Jazz and AC Cargo Limited Partnership, as represented by its general partner, AC Cargo General Partner Inc. carrying on business as Air Canada Cargo (Subsidiaries). |
As part of the reorganization of Air Canada's corporate structure under the Plan of Reorganization, Compromise and Arrangement, the Canadian Transportation Agency (Agency) notes that ACE will become the holding company under which the reorganized Air Canada and the other Subsidiaries will be held.
The Agency has carefully examined information and documentation filed in respect of the proposed new corporate structure of Air Canada as well as the capital reorganization, along with the undertakings. As a result, the Agency is satisfied that based on this information and documentation the entities in the subject heading will meet the Canadian ownership and control requirements as defined in subsection 55(1) of the Canada Transportation Act.
In order to satisfy itself that, upon emergence from the Companies' Creditors Arrangement Act (CCAA) proceedings, the proposed corporate and capital reorganizations have not changed in any material or substantial way from that described in the evidence presently on file with the Agency, the Agency hereby orders ACE to file upon signing all the final closing documents including final and signed agreements and other documentation implementing these proposals.
The Agency will issue detailed reasons for this determination in the near future.
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