The Canadian Debtors, part of the global Endo pharmaceutical group, applied under Part IV of the CCAA for an interim order recognizing Chapter 11 proceedings commenced in the United States.
The court found that Ontario was the proper jurisdiction for the recognition proceedings due to the debtors' substantial business presence and security agreements governed by Ontario law.
The court granted the interim order, including a stay of proceedings in favour of the Canadian Debtors and affiliated non-applicant entities facing opioid-related class action litigation in Canada, to protect the operations of the Canadian business pending a full recognition hearing.
