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Update on Triple J Pipelines (“Triple J”) restructuring:

On May 24th, 2024, Triple J filed a Notice of Intention to Make a Proposal under Section 50.4 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and B. Riley Farber Inc. (“B. Riley Farber”) was appointed as proposal trustee in the Company’s NOI proceedings. Triple J leadership determined the NOI was necessary for the company to get through this difficult time.

Over the past 90 days, Triple J has undertaken a much-needed restructuring of our management and processes to show accountability both within, and more importantly to our vendors and customers, while continuing to operate in the market in a meaningful, safe, quality conscious and reputable way. Triple J recognizes the value of its vendors and customers, and the difficulties they have suffered because of Triple J’s challenges. We are fortunate to have the support of so many of our vendors and key customers.

Joleen Burnett, who has continued with our team in the capacity of Chief Restructuring Officer, brings a wealth of experience as an executive focused on process reform and profit maximization. Joleen’s focus has been on analyzing a variety of areas within our organization in an effort to ensure the creation and preservation of a strong business and workplace culture.

Mike Scott has continued in the role of Vice President of Operations. Mike’s vast industry experience, history with Triple J and relationships with existing customers and vendors have been and will continue to be instrumental as we navigate this transition period. Mike has been working with the loyal staff and field staff that have stayed with Triple J with the belief that Triple J can return to a healthy, viable business. We have complimented Triple J’s existing staff with the new addition of Mike Nash in the Project Management position, leveraging Mike’s 30 years in the industry and his solid relationships with vendors and clients.

We are committed to continue our current work, and pursue future work, adhering to the highest quality and safety standards to which our industry holds Triple J.

 

For further information relating to Triple J’s restructuring efforts, please visit B. Riley Farber’s website at: https://brileyfarber.com/engagements/triple-j-pipelines-2019-inc/.