Brennan Caldwell

The Foreign Representative, Yellow Corporation, brought an unopposed motion under the CCAA for a Fifth Supplemental Order recognizing and enforcing three orders granted by the U.S. Bankruptcy Court in Chapter 11 proceedings.

The orders authorized the abandonment and destruction of certain documents, compelled specific performance of an asset purchase agreement, and authorized the assumption of certain unexpired leases.

The court found it appropriate to grant the requested relief and recognize the U.S. Orders in Canada.

Yellow Corporation, as Foreign Representative for itself and its Canadian affiliates (the Canadian Debtors), brought a motion under section 49 of the Companies’ Creditors Arrangement Act (CCAA) to recognize and enforce various orders (U.S. Orders) issued by the United States Bankruptcy Court for the District of Delaware in their Chapter 11 proceedings.

The motion, which was unopposed, sought to preserve the value of the Canadian Debtors and business during the wind-down and sale efforts.

The court granted the motion, finding it necessary for the protection of the debtors' property and creditors' interests, and consistent with principles of comity and public policy.

The applicant, Yellow Corporation, sought an interim stay of proceedings in Canada under Part IV of the CCAA and section 106 of the Courts of Justice Act.

The applicant had commenced Chapter 11 proceedings in the United States and sought the interim stay pending the First Day Hearing in the U.S. Bankruptcy Court.

The court granted the interim stay, finding it within its jurisdiction, consistent with principles of comity, and necessary to preserve the value of the Canadian business during the company's wind-down efforts.

The court-appointed receiver of MJardin Group, Inc. brought a motion for a discharge order to facilitate the transition from receivership proceedings to proceedings under the Companies' Creditors Arrangement Act (CCAA).

The proposed order provided for the receiver's discharge upon the issuance of a CCAA Initial Order, while preserving the receiver's charges.

As the CCAA Initial Order had been granted, the court granted the motion and signed the discharge order.