OIC Number: 2001 - 272

Date of Order: Jun 08, 2001

Statute: Sydney Steel Corporation Act

OIC Text: The Governor in Council on the report and recommendation of the Minister responsible for the Sydney Steel Corporation Act (referred to as the "Minister" and "Sysco" respectively) dated May 30, 2001, and pursuant to

Section 34 of

Chapter 456 of the Revised Statutes of Nova Scotia, 1989, the Sydney Steel Corporation Act, is pleased to: (

a) authorize Sysco to retain the consortium of Henry Butcher, Michael Fox International and Trans-Canada Liquidators together with Philip Services Corp. to liquidate and otherwise sell Sysco's assets and liabilities; (

b) order that the Minister and Sysco be and are hereby authorized to enter into such documentation in respect of this liquidation process as they may approve, together with such other documentation as may be referred to therein or may be required to consummate the liquidation process herein or therein referred to, and the approval of the Minister shall be conclusively evidenced by his execution of the relevant documents; and (

c) order that, without limiting the generality of the foregoing, the Minister be and is hereby authorized, empowered and directed to fix and determine the form and content of and to execute and deliver for and on behalf of the Province of Nova Scotia, under seal or otherwise, such documents, instruments, agreements and certificates (including without limitation the documentation referred to in the preceding paragraphs hereof) as are determined by him to be required, and to do all such other things which he may consider necessary or desirable from time to time in order to give effect to the foregoing, and the approval of the Minister of any document, instrument, agreement or certificate shall be conclusively evidenced by his execution thereof.

Department(s): Sysco