May 18, 2023
Structurlam to sell off assets
Structurlam Mass Timber Corporation, a mass timber manufacturer in North America, has entered into a stalking horse asset purchase agreement (APA) with Mercer International Inc. to sell substantially all the company’s assets in British Columbia and Arkansas. A stalking horse APA is an initial bid on the assets of a bankrupt company, setting the low-end bidding bar so that other bidders can't underbid the purchase. The company has filed petition for relief under Chapter 11 of the US code and recognition of the Chapter 11 proceedings will be sought in the Supreme Court of British Columbia.
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