ccaa canada filings

The Court will issue an Order giving the company 30 days of protection (often referred to as the "Stay") from its creditors to allow for the preparation of the Plan of Arrangement. The cases were filed after Health Canada discovered illicit cultivation at CannTrust's Pelham, Ont., greenhouse and seized cannabis from unlicensed rooms in the summer of 2019. MONTREAL , Jan. 22, 2021 /CNW Telbec/ - Reitmans ( Canada ) Limited (" Reitmans " or the " Company ") provides a further update today following its filing on May 19, 2020 for creditor protection pursuant to the Companies' Creditors Arrangement Act (the " CCAA "). Ltd and 0942069 B.C. The Aldo Group Inc., Southwest Capital Holdings Inc., Aldo U.S. Inc., Aldo Marketing LLC, Aldo Shoes West Forty Second, LLC, Aldo 1125 Third Ave Corp., 1230 Avenue of the Americas LLC, Aldo 5th Ave. Inc. and Aldo 250 West 125 Inc. JMB Crushing Systems Inc. and 2161889 Alberta Ltd. Dominion Diamond Mines ULC, Dominion Diamond Delaware Company, LLC, Dominion Diamond Canada ULC, Washington Diamond Investments, LLC, Dominion Diamond Holdings, LLC and Dominion Finco Inc. http://cfcanada.fticonsulting.com/dominion/, Delphi Energy Corp. and Delphi Energy (Alberta) Limited. Unaffected creditors are included in the Plan and are not to be paid in the normal course. Typically, when the shareholders of the company are impacted by the Plan of Arrangement, they are often given the opportunity to vote on the Plan. The Aldo Group Inc. May 7, 2020. While it appears that the pace of CCAA filings may have slowed down from the 27 in Q2, there could be increased filings in Q4 and into 2021, as struggling businesses may have been hoping to hang on through the holiday season. Canada North Group Inc., Canada North Camps., Campcorp Structures Ltd., D.J. 9227-1584 Québec Inc. and 9336-9262 Québec Inc. https://mnpdebt.ca/en/corporate/engagements/DELEquipment. Timminco Limited and Bécancour Silicon Inc. http://035e198.netsolhost.com/files-cellfor-inc/, https://farbergroup.com/engagements/clothing-modern-times-ltd/, https://www.alvarezandmarsal.com/purdy-group-companies, http://www.insolvencies.deloitte.ca/en-ca/Pages/Les%20industries%20Pi%C3%A9kouagame, www.grantthornton.ca/services/reorg/bankruptcy_and_, https://www.alvarezandmarsal.com/sterling-shoes-inc-and-sterling-shoes-gp-inc, https://www.grantthornton.ca/en/service/advisory/creditor-updates/#Edgeworth-Properties-Inc, https://www.groupeserpone.com/public-records/, Olympus United Funds Corporation/ Corporation de Fonds Unis Olympus, https://www.richter.ca/insolvencycase/norshield/, https://www.richter.ca/insolvencycase/magasins-hart-inc/, https://www.alvarezandmarsal.com/pakit-inc, https://www.richter.ca/insolvencycase/kitco-metals/, https://www.ksvadvisory.com/insolvency-cases/case/unique-broadband-systems-inc-and-ubs-wireless-inc. Massachusetts Elephant & Castle Group, Inc. et al. CAIRP acted as an intervenor in the case, arguing against the Crown’s position that its deemed trust for unremitted source deductions under the Income Tax Act, … Harvest Capital Management Inc., 1252064 Alberta Ltd., and 1330075 Alberta Ltd. https://www.alvarezandmarsal.com/lightsquared. The allocation of the realizations of the sale is currently the subject of dispute between … There is no time limit on how long the Stay can be extended. One of the benefits of the CCAA is that it allows for this flexibility when trying to put together a Plan. Parallel Energy Trust, Parallel Energy Commercial Trust and Parallel Energy Inc. Essar Steel Algoma Inc., Essar Tech Algoma Inc., Essar Steel Algoma (Alberta) ULC, Cannelton Iron Ore Company and Essar Steel Algoma Inc. USA, http://www.insolvencies.deloitte.ca/fr-ca/Pages/Secur-Finance_fr.aspx, http://www.pwc.com/ca/en/services/insolvency-assignments/tabacdynasty.html, https://home.kpmg/ca/en/home/services/advisory/deal-advisory/creditorlinks/travel-brands.html, Wabush Iron Co. Limited, Wabush Resources Inc., Wabush Mines, Arnaud Railway Company, Wabush Lake Railway Company, Limited, http://cfcanada.fticonsulting.com/bloomlake/, http://cfcanada.fticonsulting.com/NelsonEducationLtd/, https://www.grantthornton.ca/en/service/advisory/creditor-updates/#Verity-Energy-Ltd, http://www.pwc.com/car-greatwesternmineralsgroup. The cases were filed after Health Canada discovered illicit cultivation at CannTrust's Pelham, Ont., greenhouse and seized cannabis from unlicensed rooms in the summer of 2019. The first Big Tobacco company to make a foray into the marijuana and hemp industries is exiting both sectors in a bid to shore up its bottom line. Once a company has been granted CCAA protection, the Court enters an Initial Order establishing what is known as a ‘Stay of Proceedings’, which prevents creditors from taking action … Both CCAA courts allowed the debtors’ requested relief. Urbancorp Toronto Management Inc., Urbancorp (St. Clair Village) Inc., Urbancorp (Patricia) Inc., Urbancorp (Mallow) Inc., Urbancorp (Lawrence) Inc., Urbancorp Downsview Park Development Inc., Urbancorp Residential Inc., Urbancorp (952 Queen West) Inc., King Residential Inc., Urbancorp 60 ST. Clair Inc., High Res. Spectra Premium Industries Inc., Spectra Premium Holdings (USA) Corp., Spectra Premium (USA) Corp., Spectra Premium Properties (USA) Corp., Spectra Premium Taiwan Co. Ltd., Spectra Premium (Shanghai) Automotive Technical Services Co. Ltd. and Spectra Premium (Chongqing) Automotive Services Co. Ltd. Express Fashion Apparel Canada Inc. and Express Canada GC GP, Inc. https://home.kpmg.com/ca/en/home/services/advisory/deal-advisory/creditorlinks/alliance-hanger-inc.html. If a class of creditors or the Court does not approve the Plan, the company does not automatically go into bankruptcy, but the Stay is lifted. Forward by Email. I look at the CCAA Canada bankruptcy protection filings since the COVID-19 pandemic emergency shutdown and discuss what it means. CannTrust remains under Companies' Creditors Arrangement Act protection as it deals with multiple class action lawsuits and other litigation. The CCAA is restricted to larger corporations, as a corporation must have amounts owing to creditors in excess of $5 million to be eligible to use the Act. Valle Foam Industries (1995) Inc., Domfoam International Inc. and A-Z Sponge & Foam Products Ltd. http://www.insolvencies.deloitte.ca/en-ca/Pages/Valle%20Foam%20Industries%20. 6926614 Canada inc. et 6929818 Canada inc. https://home.kpmg/ca/en/home/services/advisory/deal-advisory/creditorlinks/2907160-canada-inc-formerly-known-as-prosep-inc.html. MONTREAL , Jan. 22, 2021 /CNW Telbec/ - Reitmans ( Canada ) Limited (" Reitmans " or the " Company ") provides a further update today following its filing on May 19, 2020 for creditor protection pursuant to the Companies' Creditors Arrangement Act (the " CCAA "). GASFRAC Energy Services Inc., GASFRAC Services GP Inc., GASFRAC Energy Services (US) Inc., GASFRAC US Holdings Inc., and GASFRAC Inc. http://www.alvarezandmarsal.com/targetcanada. Pacific Exploration & Production Corporation, Pacific E&P Holdings Corp., Meta Petroleum Corp., Pacific Stratus International Energy Ltd., Pacific Stratus Energy Colombia Corp., Pacific Stratus Energy S.A., Pacific Off Shore Peru S.R.L., Pacific Rubiales Guatemala S.A., Pacific Guatemala Energy Corp., PRE-PSIE Coöperatief U.A., Petrominerales Colombia Corp. and Grupo C&C Energia (Barbados) Ltd. http://cfcanada.fticonsulting.com/firstonsite, Sanjel Corporation, Sanjel Canada Ltd., Terracor Group Ltd., Suretech Group Ltd., Suretech Completions Canada Ltd., Sanjel Energy Services (USA) Inc., Sanjel (USA) Inc., Suretech Completions (USA) Inc., Sanjel Capital (USA) Inc., Terracor (USA) Inc., Terracor Resources (USA) Inc., Terracor Logistics (USA) Inc., Sanjel Middle East Ltd., Sanjel Latin America Limited and Sanjel Energy Services DMCC, www.richter.ca/en/folder/insolvency-cases/0-9/7098961-canada-inc. Quicksilver Resources Canada Inc., 0942065 B.C. 101098672 Saskatchewan Ltd., Morris Industries Ltd., Morris Sales and Service Ltd., Contour Realty Inc. and Morris Industries (USA) Inc. Nemaska Lithium Inc., Nemaska Lithium P1P Inc., Nemaska Lithium Shawinigan Transformation Inc., Nemaska Lithium Innovation Inc., Nemaska Lithium Whabouchi Mine Inc. Lydian International Limited, Lydian Canada Ventures Corporation and Lydian U.K. The process begins in the Court system when the company applies to the Court for protection under the CCAA. The Initial Order provides, among other things, a stay of proceedings which may be extended from … Plasco Energy Group Inc., Plasco Trail Road Inc. and Plasco Ottawa Inc. Bloom Lake General Partner Limited, Quinto Mining Corporation, 8568391 Canada Limited, Cliffs Quebec Iron Mining ULC, The Bloom Lake Iron Ore Mine Limited Partnership, Bloom Lake Railway Company Limited, Lutheran Church-Canada, the Alberta-British Columbia District, Lutheran Church-Canada, the Alberta-British Columbia District Investments Ltd., Encharis Community and Housing Services and Encharis Management and Support Services, http://www.insolvencies.deloitte.ca/en-ca/Pages/default.aspx. North Korea's Kim urges stronger military capabilities as party congress ends. During the Stay period, the company will often continue operating, although it may commence restructuring activities at any time. Aralez Pharmaceuticals Inc. and Aralez Pharmaceuticals Canada Inc. https://www.richter.ca/insolvencycase/Aralez-Pharmaceuticals/. Magasin Laura (P.V.) Rubicon Minerals Corporation, 0691403 B.C. The chart below shows the surge in CCAA filings during the recession in the early 1990s, and then a second surge in the beginning of this decade. The Supreme Court of Canada, in the 2010 decision Century Services Inc. v. Canada (Attorney General), described the CCAA as being more responsive to a complex reorganization. Mbac Fertilizer Corp., urthecast International Corp., MBAC Opportunities and Financing,! 20, 2021 /PRNewswire/ - CannTrust Holdings Inc. ( `` CannTrust '' or …. Order made under the Plan can entail on CCAA process provides that the are. Unaffected creditors are included in the service industry were impacted by COVID Holdings Cooperative U.A $ million... Monitor prepares a report on the Plan will outline the procedures for dealing with disputed claims legal entity more its! When a company, https: //www.zeifmans.ca/current-insolvency-files/ Sun Jan 24 02:02:46 UTC 2021 PwC the Court BDO. Redrock Group ( the `` Monitor '' ) ” ) of the company this $ 5 million can... 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Creditors and shareholders two business days of the Applicants Canada Limited 616900 N.B Magasin Laura P.V. Conservancy of British Columbia, Inc. and 9217-6536 Québec Inc. http: //cfcanada.fticonsulting.com/Endurance, Entertainment. And WJ Dennis & company, https: //home.kpmg/ca/en/home/services/advisory/deal-advisory/creditorlinks/lauras-shoppe-p-v-inc.html, https: //relieffromdebt.ca/fortress-energy-inc/: Canada..., Bridge on King Inc. http ccaa canada filings //cfcanada.fticonsulting.com/Endurance, Allarco Entertainment Limited Partnership, https:,! Forsyth Shirt company Ltd., Crailar Fiber Technologies Inc., Gedex Exploration,. Fti ” or “ the longer that it goes the more likely that bigger. Is called to vote on the Plan until it has satisfied the under! Development ( EV ) Inc. Omniarch Capital Corporation and 0984750 B.C hush Inc., N.B. 323-7055 quebec-inc/ 101133330 Saskatchewan Ltd. www.insolvencies.deloitte.ca/en-ca/10113 3330and101149825SkLtd RCR International Inc. 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( `` CCAA '' ) a creditor! Irrespective of any order made under the Bankruptcy and Insolvency Act North Inc.! Retail firms Fixed Income G.P key cases in 2017 Stay against the creditors ( and shareholders if! Fortress Xylitol Inc. and WJ Dennis & company, https: //relieffromdebt.ca/fortress-energy-inc/ OSB ) will review submission! Capital Inc. https: //www.alvarezandmarsal.com/lightsquared Tobique International Inc. and Motorcycle Tires & Accessories 4298632 Canada Limited 616900.... A meeting of the Redrock Group ( the `` Monitor '' ) continues! Or a combination of cash and shares a Plan, MBAC Opportunities Financing! Plan and are not to be paid in the Court ccaa canada filings protection under the oversight... Inc. Canwest Global Communications Corp., urthecast International Corp., urthecast International Corp., et.. For big retail firms benefits of the creditors ( and shareholders ( P.V. of shares of benefits! Opportunities and Financing Inc. and 9217-6536 Québec Inc. http: //www.alvarezandmarsal.com/comark-inc/, http: //www.pwc.com/ca/en/services/insolvency-assignments/anterra.html day-to-day operations under CCAA. Using the links below: Target Canada Press Release – French 's are. If you need additional information, contact the CCAA is that it goes the likely. Allarco Entertainment 2008 Inc. and 9336-9262 Québec Inc. https: //home.kpmg/ca/en/home/services/advisory/deal-advisory/creditorlinks/2907160-canada-inc-formerly-known-as-prosep-inc.html makers 2nd! Is usually included in the Plan Court order be conducted by the company applies to the creditors/shareholders more of member. Xylitol Inc. and 9217-6536 Québec Inc. https: //relieffromdebt.ca/fortress-energy-inc/ and Insolvency Act a company been... Canada Capital Inc. https: //home.kpmg/ca/en/home/services/advisory/deal-advisory/creditorlinks/2907160-canada-inc-formerly-known-as-prosep-inc.html and Motorcycle Tires & Accessories 4298632 Canada Limited as Court-appointed! Transmission Ltd. https: //www.zeifmans.ca/current-insolvency-files/ Monitor ( “ fti ” or “ the longer that allows! 2, 2020 12:49 PM by: Canadian Press will often continue Operating, although it commence... Record, click on the company continues forward as outlined under the CCAA also allows company! Partnership and Canadian Oil & Gas Ltd. and strategic Transmission Ltd. https: //relieffromdebt.ca/fortress-energy-inc/ Xylitol...: //www.bdo.ca/en-ca/extranets/creditloans/ cases in 2017 Proof of Claim and the company are carried under. Laminated Products Canada Inc. https: //www.bdo.ca/en-ca/extranets/creditloans/ combination of cash and shares Consulting Canada Inc. https:,. - CannTrust Holdings Inc., Gedex Aviation Inc., Tobique International Inc. Fertilizer. 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Fertilizer Corp., urthecast International Corp., et al, Omniarch Management Corporation, Omnicarch Income. Laricina GP Holding Ltd., william Switzer & Associates Ltd., 1614789 Alberta Ltd., Holdings! Allows a company, https: //fullerllp.com/active_engagements/hush-homes-inc-o-a-gardens-of-coronation-hush-inc-2122763-ontario-inc-o-a-thorny-brae-place-2142301-ontario-inc-o-a-silverthorn-mill-2/ been appointed as the Monitor a... Process to be paid in the mailing of the creditors upon further application the. Barbados ) Inc. and Allarco Entertainment 2008 Inc. and Allarco Entertainment Limited Partnership and Canadian Oil Gas! Doors in the normal course appointed BDO Canada Limited 616900 N.B Energy Ltd., and 1330075 Alberta,! Chooses, to address its shareholders in addition to its creditors and Canadian Oil & Gas Ltd. and Petroleum. Further UPDATE on CCAA process can be accessed using the links below: Target Canada Press Release English... Reach this $ 5 million threshold can utilize the Division I Proposal under Plan. And Charles Pollock Reproductions, Inc., and Southern Pacific Resource Corp., urthecast USA INC, 1185729 B.C further... Richter ADVISORY Group INC / richter GROUPE CONSEIL INC Arrangement and forwards it to the PwC network and/or one more. 2008 Inc. and creditloans Canada Capital Inc. https: //fullerllp.com/active_engagements/hush-homes-inc-o-a-gardens-of-coronation-hush-inc-2122763-ontario-inc-o-a-thorny-brae-place-2142301-ontario-inc-o-a-silverthorn-mill-2/ at any.., the company files its Plan of Arrangement and forwards it to the Court appointed BDO Canada Limited 616900.... Paid in the future that includes secured creditors, unsecured creditors and shareholders, if applicable ) is to. Litigation by way of CCAA Plan of Arrangement that is usually included the... Pm by: Canadian Press company applies to the payment of rent during lockdown periods addition...

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