In ongoing restructuring proceedings under the Companies’ Creditors Arrangement Act, the debtor company sought court approval of a coke conversion agreement with its parent corporation.
The motion was brought on an urgent basis due to operational deadlines relating to coal shipments and winter shipping constraints on the Great Lakes.
The monitor supported the agreement and reported that it would be cash‑flow positive, would recall employees from temporary layoff, and would not interfere with the ongoing sales and restructuring process.
The court held that it had jurisdiction under s. 11 of the CCAA and found the agreement appropriate in the circumstances.
A sealing order was also granted to protect confidential commercial information contained in an unredacted version of the agreement.
