March 21 (Reuters) - Discovery Air Inc:
* DISCOVERY AIR INC. ANNOUNCES COMMENCEMENT OF RESTRUCTURING PROCEEDINGS UNDER THE COMPANIES’ CREDITORS ARRANGEMENT ACT AND PENDING SALE PROCESS TO PRESERVE BUSINESS; AFFILIATES OF CLAIRVEST SUBMIT BIDS TO PURCHASE ASSETS
* DISCOVERY AIR INC - NONE OF SUBSIDIARIES HAVE FILED FOR CCAA PROTECTION
* DISCOVERY AIR- CLAIRVEST AGREED TO PROVIDE FUNDING TO CORP DURING THE PROCEEDINGS PURSUANT TO COURT-APPROVED DEBTOR-IN-POSSESSION FINANCING FACILITY
* DISCOVERY AIR - SH, ATL & DMS HAVE BENEFIT OF STAY OF PROCEEDINGS TO PREVENT CREDITOR ACTIONS AGAINST THEM AS RESULT OF CO’S FILING FOR CCAA PROTECTION Source text for Eikon: Further company coverage: