Tahera gets stay period extension
by Tiffany Marlow
Tahera Diamond Corporation, a Canadian diamond mining company gets stay period extension, which was till June 30, 2008 from the Ontario Superior Court of Justice. The extension has been provided under the Companies’ Creditors Arrangement Act (CCAA).
The stay period is now in effect until September 30, 2008 and is intended to provide sufficient time for the Company to complete its sales process.The original CCAA filing occurred on January 16, 2008, which was extended to June 30, 2008.
The court order also provides an extension for Tahera to conduct its annual meeting of shareholders to a date no later than six months after the date of implementation of a Plan of Arrangement or Compromise under the CCAA proceedings.
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