ACE Aviation, former parent company to Air Canada (AC), has appointed Ernst & Young as liquidator and announced the resignation of all its directors and officers. On April 25, ACE's shareholders approved a special resolution providing for the voluntary liquidation of ACE. Its net assets as of April 30 amounted to C$381 million ($374.6 million), including 31 million shares in AC valued at C$31 million. The liquidator will now distribute ACE’s remaining net cash to its ...

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