The applicant, an architecture and design firm, sought approval of a going concern sale transaction and a reverse vesting order (RVO) under the CCAA, with its secured creditor acting as the successful stalking horse bidder.
The court approved the transaction and RVO, finding the sale process was robust and the RVO structure was necessary to preserve key public procurement contracts and tax losses.
The court also approved third-party releases, an extension of the stay of proceedings, a sealing order for commercially sensitive documents, and the Monitor's fees and activities.
