Wilmington Trust acts as agent to Connacher Oil and Gas in its restructuring
Clients M&T Bank Corporation
Jones Day is representing Wilmington Trust, N.A., a subsidiary of M&T Bank Corporation, as the pre-petition agent and DIP agent for Connacher Oil and Gas Limited in its restructuring. The junior oil sands producer sought court protection from its creditors under the Companies' Creditors Arrangement Act ("CCAA") at the Court of Queen's Bench of Alberta due to depressed prices for oil and its limited ability to access capital. Interim financing commitments of up to US$20 million are expected to provide sufficient liquidity to support the business of the company during the CCAA proceedings.