The applicant, BBB Canada Ltd., sought court approval under the Companies' Creditors Arrangement Act (CCAA) for an Omnibus Assignment and Assumption of Leases, FF&E and Trade Fixtures Agreement with DKB Capital.
The motion also requested orders for the assignment of certain leases under section 11.3 of the CCAA and a temporary sealing order for the unredacted agreement.
The court found the marketing process comprehensive, the consideration fair and reasonable, and the agreement beneficial to stakeholders.
The assignments were unopposed.
The court applied the Sherman Estate test for the sealing order and found it appropriate given its limited scope and time.
The motion was granted in its entirety.
