Leanne M. Williams

The Administrative Agent for the Syndicate Lenders moved for an order tolling limitation periods relating to claims against the debtor entities, additional stay parties, and related individuals and trusts that may expire during the stay period or within 60 days following its termination.

The motion was unopposed and supported by the Monitor and the Trustee in Bankruptcy.

The court granted the tolling order, finding jurisdiction under section 11 of the CCAA and that the relief advanced the policy and remedial objectives of the Act.

The court acknowledged the respondents' reservation of rights to seek variation or termination of the tolling provisions in the future.

The court considered a motion by the moving defendants for an order requiring the plaintiff, River City Christian Reformed Church, to pay security for costs under Rule 56.01(d) of the Rules of Civil Procedure.

The plaintiff, a not-for-profit corporation, sought relief for alleged fraud, misrepresentation, breach of duty, oppression, and unjust enrichment relating to a failed property acquisition.

The court found that the plaintiff was impecunious and that its claim was not plainly devoid of merit, and therefore dismissed the motion for security for costs.

This endorsement grants several orders sought by the Applicants in ongoing Companies' Creditors Arrangement Act (CCAA) proceedings, including approval of the Monitor’s reports and activities, amendment of reporting obligations, addition of Block 6 Holding Inc. as an Applicant, approval of a property sale and related distributions, and the appointment of a mediator to address cost allocation issues among financiers.

The court finds all relief appropriate and supported by the record.

This decision sanctions the CCAA Plans of Imperial Tobacco Canada Limited, Imperial Tobacco Company Limited, JTI-Macdonald Corp., and Rothmans, Benson & Hedges Inc., effecting a global settlement of all tobacco-related claims in Canada.

The court reviews the structure, allocation, and fairness of the plans, including the creation of a $1 billion Cy-près Foundation, and addresses objections from social stakeholders.

The court finds the plans fair, reasonable, and in the public interest, and grants the requested relief, including third-party releases and the appointment of plan administrators.

This decision concerns motions brought by Pride Group Holdings Inc. and related applicants under the Companies' Creditors Arrangement Act (CCAA) for interim relief in their restructuring proceedings.

The court addresses requests for approval of interim distributions, payment of direct costs, application of deferred payments for working capital, and approval of certain activities of the Monitor.

The court grants the requested relief, finding it necessary to maintain liquidity and continue the wind-down process, and holds that the proposed mechanisms are equitable and consistent with the CCAA’s remedial objectives.

The Applicants sought and were granted several orders in a Companies' Creditors Arrangement Act (CCAA) proceeding, including approval of a Remaining Securitized Assets Order, a sale and vesting order for Dixie Truck Parts Inc. (Ontario and Delaware), an omnibus distribution order, and a sealing order.

The Court found that the sale process was reasonable, the related party transaction safeguards were sufficient, and the proposed orders were fair and reasonable.

The Court also addressed the importance of timely opposition to relief and the need for efficiency and comity in cross-border insolvency proceedings.

The Applicants in a CCAA proceeding sought multiple orders, including approval for the sale of various real properties and shares, authorization for distributions to lenders, amendments to a Wind-Down Order to include new recourse lenders and clarify notice, amendments to a Lien Discharge Order to address possessory liens and insurance claims, and amendments to a Factoring Order.

The relief was unopposed and recommended by the Monitor and Chief Restructuring Officer.

The court granted all requested orders, finding that the transactions were in the best interests of stakeholders and that the court had jurisdiction under sections 11 and 36(3) of the CCAA, applying the Soundair Principles.

The applicants in a CCAA proceeding sought approval for a revised Wind-Down Plan, a Liquidity Contribution Alternative and Turnover Order, a Stay Extension, and a Key Employee Retention Plan (KERP).

The court approved the relief, finding the revised plan addressed previous concerns by allowing secured creditors (Recourse Lenders) the option to pay their pro rata share of the liquidity requirement to retrieve collateral, or for the applicants to sell inventory to fund the wind-down.

The court also found the KERP appropriate and necessary for an efficient wind-down and extended the stay of proceedings.

The Applicants in a CCAA proceeding sought a Funding Contribution and Turn-Over Order to compel various financiers to contribute to a $40 million wind-down cost, an extension of the stay period, and approval of a Key Employee Retention Plan (KERP).

The court declined the Funding Order and KERP, finding that CCAA section 11.01(b) prohibits compelling new money advances from stakeholders, and that securitization parties are differently situated with assets excluded from the debtor's property.

The court did grant a shorter extension of the stay of proceedings.

The appellant, 2649360 Ontario Inc., appealed a motion decision that granted Grant Thornton Limited, as Trustee in Bankruptcy for Aiden Pleterski and AP Private Equity Limited, relief from forfeiture of a $500,000 real estate purchase deposit.

The deposit was paid by Pleterski using misappropriated investor funds for a property that was subsequently not purchased due to bankruptcy.

The motion judge applied the two-part test for relief from forfeiture (disproportionate to damages and unconscionable to retain) and ordered the deposit returned to the Trustee for the benefit of creditors.

The appellant argued the motion judge erred by considering creditor interests and by characterizing Grant Thornton as "innocent." The Court of Appeal dismissed the appeal, affirming that the motion judge was entitled to consider the full commercial context, including the source of funds and the benefit to creditors, and that a party causing breach is not absolutely barred from relief from forfeiture.

The court found no error in the discretionary decision.

This endorsement concerns a motion brought by Pride Group Holdings Inc. and its affiliates (the Applicants) under the Companies' Creditors Arrangement Act (CCAA) for approval of a going concern transaction for Pride Group Logistics (PGL), a distinct business line.

The proposed purchasers included principals of the Applicants, leading the Court-appointed Monitor to undertake negotiations and carriage of the motion.

The Monitor, supported by the Applicants, their directors, employees, and some financiers (Daimler, Mitsubishi, Finloc, National Bank), recommended approval, arguing it offered a higher recovery than liquidation, preserved approximately 500 jobs, and avoided significant wind-down costs for the broader Pride Entities.

The transaction was opposed by certain secured lenders, including The Bank of Nova Scotia, The Lending Syndicate, TD Equipment Finance Canada, and RBC entities, who preferred a wind-down.

The court applied the factors under CCAA s. 36(3) and the Soundair Principles, finding the sale process reasonable, fair, and transparent.

The court concluded that the transaction was the only viable going concern option, superior to a wind-down, and consistent with the CCAA's purpose of avoiding social and economic losses from liquidation.

The PGL Going Concern Transaction was approved.

The applicants, Pride Group Holdings Inc. et al., sought several orders under the Companies' Creditors Arrangement Act (CCAA), including a Turn-Over Order for securitized assets, allocation of Monitor's review costs, and approval and vesting orders for two properties (Cornwall and Abbotsford) and a factoring portfolio.

The approval and vesting relief for the properties and factoring portfolio were unopposed.

The Turn-Over Order was resolved through negotiations and presented to the court on consent.

The court-appointed Monitor recommended all sought relief.

The court granted all requested orders, finding them appropriate and within its jurisdiction under section 11 of the CCAA, noting the Monitor's scrutiny and the benefit to stakeholders.

In a CCAA proceeding, the Applicants sought three orders: approval of a factoring portfolio purchase agreement, approval for distribution of proceeds from a property sale, and permission for a creditor to sell certain vehicles.

The court approved the distribution of Chehalis property proceeds to Roynat.

For the Regions vehicles, the court granted the order allowing Regions to take possession, setting a 30-day retrieval period and approving storage costs of $35/day.

The motion for approval of the JD Factors Purchase Agreement was adjourned to a later date, as Mitsubishi HC Capital Canada Inc. objected, claiming ownership of the receivables and requiring more time to prepare its position.

In a Companies' Creditors Arrangement Act (CCAA) proceeding, the applicants sought court approval for the sale of a real property, the Monitor's reports, a revised governance protocol, and a sale and investor solicitation process (SISP) for their logistics business.

The court approved the property sale, finding it met the Soundair Principles despite not being a court-supervised process.

The Monitor's reports and activities were also approved.

The proposed SISP was approved with a minor amendment requiring the Monitor to consult directly affected secured creditors.

The Revised Governance Protocol, which included default commission rates for vehicle sales and collections, was approved as an interim measure, balancing the need for cost recovery with creditor concerns, noting that financiers could negotiate alternative rates or withhold consent to sales.

This endorsement concerns a motion brought by Pride Group Holdings Inc. and other applicants under the Companies' Creditors Arrangement Act (CCAA).

The applicants sought court approval for three main items: a pre-filing agreement of purchase and sale for the Bolingbrook Property, approval of the Monitor's First and Second Reports, and an amendment to the Amended and Restated Initial Order to allow the sale of redundant, surplus, or non-material property up to certain financial thresholds without further court approval.

The court, applying the Soundair Principles, found the pre-filing sale to be in the best interests of stakeholders, noting the extensive negotiations and lack of opposition.

All requested relief was granted, with the court emphasizing the practical benefits of the proposed amendments for maximizing recovery and minimizing professional fees.

The applicants, Pride Group Holdings Inc. et al., sought an amended and restated initial order under the CCAA, including an extension of the stay period, approval of a debtor-in-possession (DIP) facility, elevation of charge priorities, confirmation against set-off, and approval of governance, real estate monetization, and intercompany/unsecured claims preservation protocols.

The court granted the requested stay extension to June 30, 2024, approved the $30 million DIP facility, and approved all proposed protocols.

The court declined to add an exception to the paramountcy provision as requested by certain securitization funders and approved a carve-out for Triumph Business Capital but limited it to CDN $3 million.

The Applicants, Pride Group Holdings Inc. and related entities, sought an initial order under the Companies’ Creditors Arrangement Act (CCAA) due to a severe downturn in the trucking and logistics industry, leading to a liquidity crisis and lender enforcement actions.

The court granted the initial order, which included a stay of proceedings for the Pride Group, its limited partnerships, additional stay parties, and personal guarantors.

The order also approved the appointment of a Monitor and Chief Restructuring Officer (CRO), authorized certain pre-filing and post-filing payments, and granted Administration and Directors' Charges without super priority.

The court addressed the appointment of foreign representatives and a sealing order for the unredacted CRO Engagement Letter, partially granting the sealing request while requiring monthly fees to remain public.

This endorsement concerns three tobacco companies (JTI-MacDonald Corp., Imperial Tobacco Canada Limited, Imperial Tobacco Company Limited, and Rothmans, Benson & Hedges Inc.) operating under the Companies’ Creditors Arrangement Act (CCAA).

Each applicant sought an extension of their stay period until September 30, 2024, to continue formulating plans of arrangement.

Imperial also requested authorization to terminate a retirement plan and post security for a vaping product license.

RBH sought a procedural amendment for employee grievances.

The court, finding no opposition and satisfied with the applicants' good faith, diligence, and sufficient resources, granted all requested relief, noting significant progress in ongoing mediation.

A case conference was held in a CCAA proceeding, requested by the Purchaser of the Applicants' business, to seek directions on the interpretation of a vesting order concerning a pre-filing personal injury claim.

The parties agreed that any necessary motion for interpretation should be heard by the supervising CCAA court.

They also cooperatively discussed limiting recoveries in the personal injury actions to available general liability insurance proceeds and lifting the stay for that limited purpose, working towards a consent order.

This endorsement concerns the Companies' Creditors Arrangement Act (CCAA) proceedings for JTI-MacDonald Corp., Imperial Tobacco Canada Limited, Imperial Tobacco Company Limited, and Rothmans, Benson & Hedges Inc. The court granted an unopposed motion to extend the stay period until March 29, 2024.

Recognizing the complexity and the four-and-a-half-year duration of negotiations, the court directed the three court-appointed Monitors, in conjunction with the court-appointed Mediator, to collaborate and develop comprehensive Plans of Compromise or Arrangement.

The objective is to finalize plans that are fair and reasonable to all applicants and creditors, moving from observable activity to meaningful action.