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On November 8, 2024, Aviation Starlink Inc., controlled by Pierre Karl Péladeau, acquired key assets of Chrono Aviation Inc. and affiliates, including Services Aériens Lux Inc., through a court-approved restructuring under the Companies’ Creditors Arrangement Act. The transaction involved equity investments, debt financing, and a reverse vesting order to shed liabilities and unwanted assets. Aviation Starlink also provided post-closing operational funding.
Osler, Hoskin & Harcourt LLP advised Aviation Starlink with a multidisciplinary team covering corporate, insolvency, financial services, real estate, labor, and tax matters.
Parties
Company
Aviation Starlink Inc.
Company
Chrono Aviation Inc.
Deal Type
Merger & AcquisitionIndustry
TransportationTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
16 November 2024