Ipico is seeking approval of its creditors and a court to restructure its debt. The Canadian smart tags and RFID products maker is in discussions with Brookfield Asset Management for an interim loan facility.
The Ontario-based company will continue to operate as a unit of Brookfield if it secures the approval from the court and its creditors. Ipico has appointed Ernst & Young as its trustee and Fasken Martineau DuMoulin as its counsel.
Click here for the release from Canada Newswire.