Court Order Approving Proposal of Island Critical Care Corp. under Bankruptcy and Insolvency Act

Summary

This court order, issued by the Supreme Court of Prince Edward Island, approves a proposal made by Island Critical Care Corp. as part of bankruptcy and insolvency proceedings. The order follows the trustee's application and confirmation that a majority of creditors have accepted the proposal, which is deemed reasonable and beneficial to creditors. The approval allows the company to proceed under the agreed terms to address its financial obligations.

EX-2.2 4 icc8kapr2004order.txt District of Prince Edward Island Division No. 01 -Prince Edward Island Court No. 1713 Estate No. 51-104460 ORDER APPROVEIN PROPOSAL (Sec. 60(5)) IN SUPREME COURT PRINCE EDWARD ISLAND IN BAKKRUPTCY AND INSOLVENCY Charles P. Thompson ) On Wed, the 7 day of ) April, 2004-04-22 IN THE MATER OF THE PROPOSAL OF ISLAND CRITICAL CARE CORP. Upon the application of the trustee, A. C. POIRIER & ASSOCIATES INC. and upon reading the report of the trustee filed on the 25th day of March, 2004 and the Court being satisfied that the required majority of creditors have duly accepted the proposal in the terms contained in the paper writing marked `A' annexed hereto and being satisfied that the said terms are reasonable and calculated to benefit the general body of creditors and that no offences of facts have been proved to justify the Court in withholding its approval, the said proposal is hereby approved. /s/ Charles P. Thompson -----------------------