SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jun. 30, 2012

SIGNIFICANT ACCOUNTING POLICIES

Recently adopted accounting policies

No new accounting pronouncements were adopted by the Successor Company during three months ended June 30, 2012. For a summary of accounting pronouncements adopted by the Successor Company during the three months ended March 31, 2012, refer to the unaudited consolidated financial statements filed with the SEC on Form 10-Q on May 15, 2012.

Future Accounting Pronouncements

As at the date of this assessment, no additional future accounting pronouncements were identified, which are expected to affect the Successor Company’s future consolidated financial statements beyond June 30, 2012.