Railpower stay extended to April 7

By Caroline Salls

Pittsburgh, March 4 - Railpower Technologies Corp.'s Companies' Creditors Arrangement Act stay period was extended to April 7 by the Quebec Superior Court, according to a news release.

The company said the stay of proceedings gives it an opportunity to develop a comprehensive business restructuring plan.

Railpower and its Railpower Hybrid Technologies Corp. U.S. subsidiary filed for Companies' Creditors Arrangement Act protection in the Quebec Superior Court on Feb. 4, and Railpower's court-appointed monitor made a Chapter 15 bankruptcy filing for the company in the U.S. Bankruptcy Court for the Western District of Pennsylvania on Feb. 5.

Based in Toronto, Railpower produces energy technology systems for the transportation sector. The Chapter 15 case number is 09-10198.

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