It remains unclear when the plan of arrangement with creditors of Davie will be endorsed by the Quebec Superior Court. One of the creditors of Davie, Ocean Hotels, could bring before the Supreme Court of Canada the right to challenge the majority ownership of a debt granted by the Superior Court at Export Development Canada (EDC), who voted for the plan ‘arrangements.

Yesterday, Judge François Pelletier, the Quebec Court of Appeal, rejected the arguments of Ocean Hotels on the paternity of a debt which amounted to $ 141 million. EDC and Ocean Hotels disputed his paternity.

However, Ocean Hotels (who voted against the plan of arrangement) now has 60 days to take his case on appeal before the Supreme Court of Canada. “And that’s a possibility”, said yesterday the Sun’s lawyer Ocean Hotels, Jacques Darche.

If Ocean Hotels decided to go to the Supreme Court, won his case and gets ownership of the debt of $ 141 million, the plan of arrangement with creditors then fall into the water and society Davie will have to declare bankruptcy.

In his argument, Ocean Hotels contends that the investment in the shipyard were not used in the construction of two ships ordered in Davie.