Martino Franco Calvaruso

Corus Entertainment Inc. and 17311737 Canada Inc. sought and obtained a preliminary interim order in connection with a proposed arrangement under the Canada Business Corporations Act.

The court granted a stay of rights and remedies against the Corus Entities until December 18, 2025, to provide breathing space for the applicants to finalize definitive documentation for a recapitalization transaction.

The transaction is designed to significantly reduce the company's debt and annual cash interest costs while extending maturity dates.

The applicants demonstrated compliance with statutory requirements and good faith in pursuing the arrangement following a formal strategic review.

The stay does not affect obligations to trade creditors, suppliers, customers, or employees.

The Court-appointed Monitor sought approval of a Surplus Sharing Agreement between DCL Corporation and Representative Counsel regarding the allocation of surplus funds in the Applicant's Salaried and Hourly Defined Benefit Pension Plans.

The Monitor also sought a declaration that the Applicant is entitled to the surplus under section 79(3)(b) of the Pension Benefits Act and an extension of the stay of proceedings to January 31, 2026.

The relief was unopposed and strongly supported by Representative Counsel.

The court approved the settlement, finding it fair and reasonable, and granted the requested stay extension.

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 endorsement addresses motions by the court-appointed Monitors in the ongoing Companies’ Creditors Arrangement Act (CCAA) proceedings involving JTI-Macdonald Corp., Imperial Tobacco Canada Limited and Imperial Tobacco Company Limited, and Rothmans, Benson & Hedges Inc. The Monitors sought approval for amendments to the CCAA Plans to resolve the allocation of a $750 million working capital holdback among the Tobacco Companies.

The only opposition came from the Heart and Stroke Foundation, which objected as a social stakeholder but was found to lack standing.

The court granted the motions, finding the amendments did not adversely affect any creditors and were appropriate in the circumstances.

This endorsement addresses a motion by Sandvine Corporation and related entities under the Companies’ Creditors Arrangement Act for approval of a Stalking Horse Transaction Agreement, a vesting order, and related relief.

The court denied an adjournment request by Telecom Egypt, found that all statutory and procedural requirements were met, and approved the transaction, assignments, limited releases, sealing of confidential materials, enhanced monitor powers, and an extension of the stay of proceedings.

This endorsement concerns ongoing insolvency proceedings under the Companies’ Creditors Arrangement Act (CCAA) involving JTI-Macdonald Corp., Imperial Tobacco Canada Limited, Imperial Tobacco Company Limited, and Rothmans, Benson & Hedges Inc. The specific motion, brought by the applicants, sought a Quebec Class Action Plaintiffs Notice Protocol Order.

The motion was unopposed and was granted by the court, with the requested order signed.

This endorsement concerns a joint motion brought by the court-appointed Monitors for JTI-Macdonald Corp., Imperial Tobacco Canada Limited, Imperial Tobacco Company Limited, and Rothmans, Benson & Hedges Inc. in their ongoing Companies’ Creditors Arrangement Act (CCAA) proceedings.

The Monitors sought a Sanction Protocol Order to establish the date for the Sanction Hearing, ratify the litigation timetable, approve the dissemination of the Agenda and Sanction Hearing procedure, approve the Omnibus Sanction Hearing Notice, and set the deadline for Sanction Hearing Objection Notices.

The motion was unopposed and was granted by the court, with three orders signed.

This supplementary endorsement addresses a request from JTI-Macdonald Corp. regarding the adequacy of notice elements in the Claims Procedure Order within the ongoing Companies' Creditors Arrangement Act (CCAA) proceedings.

The court confirmed its satisfaction that the notice elements in the Claims Procedure Orders are reasonable in the circumstances, addressing an oversight from previous submissions.

Sandvine Corporation and its affiliates sought an initial order under the Companies’ Creditors Arrangement Act (CCAA), including an urgent 10-day stay of proceedings, extension of the stay to non-applicant entities (Procera II LP and other foreign subsidiaries), appointment of KSV Restructuring Inc. as monitor, and approval of interim financing (DIP) charge, administration charge, and directors' charge.

The court found the applicants insolvent, established jurisdiction in Ontario, and determined that the requested relief was necessary for the continued operation and restructuring of the integrated global business.

The Initial Order was granted, and a comeback hearing was scheduled.

The Superior Court of Justice addressed multiple motions within the complex Companies’ Creditors Arrangement Act (CCAA) proceedings of JTI-Macdonald Corp., Imperial Tobacco Canada Limited, Imperial Tobacco Company Limited, and Rothmans, Benson & Hedges Inc. The court granted a stay extension until January 31, 2025, and approved Meeting Orders and Claims Procedure Orders.

These orders facilitate the advancement of comprehensive Plans of Arrangement, developed by the court-appointed Mediator and Monitors, aiming for a Pan-Canadian global settlement of tobacco claims totaling $32.5 billion.

The court found the plans were not "doomed to fail" despite outstanding issues regarding financial allocation among the Tobacco Companies and the creditor status of JTI-Macdonald TM Corp.

This endorsement concerns an application by Accuride Canada Inc. for an Amended and Restated Initial Order (ARIO) under the Companies’ Creditors Arrangement Act (CCAA).

The applicant sought to increase the maximum amounts secured by the Administration, Directors', and Intercompany Charges, approve an Intercompany Supply Agreement with its parent company, and extend the stay of proceedings.

The court granted the ARIO, finding the requested relief necessary for the applicant's continued operations and restructuring efforts, and noting the Monitor's support for the reasonableness and necessity of the proposed changes.

Accuride Canada Inc. sought an initial order under the Companies’ Creditors Arrangement Act (CCAA) due to insolvency, exacerbated by declining demand, increased costs, and the withdrawal of financial support from its U.S. parent, Accuride Corp, which had commenced Chapter 11 proceedings.

The Applicant's London Plant had been unprofitable for over a decade.

The Applicant requested a 10-day stay of proceedings to explore a going concern transaction or an orderly wind-down, along with approval for interim financing (Intercompany Loans secured by an Intercompany Charge), an Administration Charge, a Directors' Charge, and authority to make pre-filing payments to critical third-party suppliers.

The court granted the initial order, finding the Applicant met the CCAA requirements for insolvency and jurisdiction, and that the requested relief was appropriate and necessary to stabilize operations and preserve stakeholder value during the initial stay period.

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 Applicants, Nordstrom Canada Retail, Inc., Nordstrom Canada Holdings, LLC, and Nordstrom Canada Holdings II, LLC, sought a Sanction and Vesting Order to approve their Consolidated Plan of Compromise and Arrangement under the Companies’ Creditors Arrangement Act (CCAA) and to extend the Stay Period.

The court found that all statutory requirements were met, the plan was authorized by the CCAA and prior orders, and the plan was fair and reasonable, including the proposed third-party releases.

The motion was unopposed.

The court granted the Sanction and Vesting Order and extended the Stay Period.

The Applicants, Nordstrom Canada Retail, Inc., Nordstrom Canada Holdings, LLC, and Nordstrom Canada Holdings II, LLC, brought a motion under the Companies’ Creditors Arrangement Act (CCAA) seeking an extension of the Stay Period, approval for the wind-up and termination of the Employee Trust with related releases, and the discharge of the KERP charge.

The court granted the motion, finding that the Applicants had acted in good faith and with due diligence, and that the requested releases for the Employee Trust Released Parties were appropriate given their contribution to the orderly wind-down.

There was no opposition to the motion.

The applicants, Nordstrom Canada Retail, Inc., Nordstrom Canada Holdings Inc., LLC, and Nordstrom Canada Holdings II, LLC, sought an initial order under the Companies’ Creditors Arrangement Act (CCAA) for a stay of proceedings to facilitate an orderly wind-down of their Canadian operations.

Nordstrom Canada, a subsidiary of Nordstrom US, had incurred significant losses and Nordstrom US had ceased financial support.

The court granted the requested relief, including a 10-day stay of proceedings, extension of the stay to Nordstrom Canada Leasing LP and, for limited purposes, to Nordstrom US (Parent Stay), approval of an Employee Trust funded by Nordstrom US, appointment of Employee Representative Counsel, and authorization for certain pre-filing payments to critical suppliers.

The court also approved Administration and Directors' and Officers' charges.