The
all-cash,
C$800,000
transaction
is
subject
to,
among
other
customerary
closing
conditions,
approval
by
the
Queen’s
Bench
of
Alberta
pursuant
to
EarthFirst’s
current
proceedings
under
the
Companies
Creditor’s
Arrangement
Act.
The
act
protects
companies
from
creditors
as
they
seek
to
reorganize
under
court
supervision.
EarthFirst
is
a
major
wind
power
developer
in
Canada
based
in
Calgary,
Alberta
province.
The
company
has
been
selling
assets
in
an
effort
to
raise
cash
to
meet
obligations
amid
difficulties
accessing
tight
global
credit
markets.
If
the
deal
goes
through,
Schneider
Power,
based
in
Toronto,
will
own
66%…
