August 11, 2017 / 12:31 PM / a year ago

BRIEF-Petrowest receives termination notice from Peace River Hydro Partners​

Aug 11 (Reuters) - Petrowest Corp

* Petrowest announces receipt of PRHP termination notice

* Petrowest Corp - ‍Petrowest immediately ceases to have any right to participate in management or operation of Peace River Hydro Partners​

* Petrowest Corp - ‍PRHP has right to retain all equipment provided by Petrowest for use by PRHP​

* Petrowest - ‍pursuant to notice of termination, all company’s interests in Peace River Hydro Partners shall terminate and vest in remaining partners​

* Petrowest Corp - ‍received a notice of termination from Acciona Infrastructure Canada Inc​

* Petrowest Corp -according to ‍notice of termination, Petrowest is not entitled to any profit of Peace River Hydro Partners​

* Petrowest - ‍termination pursuant to general partnership agreement for Site C main civil works project based on alleged events of insolvency, event of default​

* Petrowest Corp - ‍pursuant to notice of termination, company is unable to pay accounts of its creditors​

* Petrowest - as per notice, co shall indemnify PRHP, other partners for third party claims arising out the alleged events of insolvency, events of default​ Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below