Sunniva Inc., Sunniva Medical Inc., 111111035 Canada Inc. and 1167025 BC Ltd. JMX Contracting Inc., JMX National Inc., BRND Properties Inc., and JMX Leasing Inc. (collectively, the “JMX Group”), https://www.crowesobermaninc.com/insolvency/insolvency-cases/jmx-group/. There is no time limit on how long the Stay can be extended. Inc. / Laura's Shoppe (P.V.) Ltd., MP Atlantic Wood Ltd. and New Future Lumber Ltd. RCR International Inc. and WJ Dennis & Company, https://www.mceownassociates.com/all-canadian-investment-corporation. Unaffected creditors are included in the Plan and are not to be paid in the normal course. On July 14, 2020, the Court further … William Switzer & Associates Ltd., William Switzer & Associates Inc., and Charles Pollock Reproductions, Inc. https://relieffromdebt.ca/fortress-energy-inc/. Corporation Limited. Port Capital Development (EV) Inc. and Evergreen House Development Limited Partnership, https://www.bdo.ca/en-ca/extranets/bowriver/. Unique among the protections for post-filing obligations, taxation is protected outside the CCAA itself. For details about a particular record, click on the company name. Parallel Energy Trust, Parallel Energy Commercial Trust and Parallel Energy Inc. Essar Steel Algoma Inc., Essar Tech Algoma Inc., Essar Steel Algoma (Alberta) ULC, Cannelton Iron Ore Company and Essar Steel Algoma Inc. USA, http://www.insolvencies.deloitte.ca/fr-ca/Pages/Secur-Finance_fr.aspx, http://www.pwc.com/ca/en/services/insolvency-assignments/tabacdynasty.html, https://home.kpmg/ca/en/home/services/advisory/deal-advisory/creditorlinks/travel-brands.html, Wabush Iron Co. Limited, Wabush Resources Inc., Wabush Mines, Arnaud Railway Company, Wabush Lake Railway Company, Limited, http://cfcanada.fticonsulting.com/bloomlake/, http://cfcanada.fticonsulting.com/NelsonEducationLtd/, https://www.grantthornton.ca/en/service/advisory/creditor-updates/#Verity-Energy-Ltd, http://www.pwc.com/car-greatwesternmineralsgroup. Inc., 9288-7561 Québec Inc., 9001-6346 Québec Inc. http://www.raymondchabot.com/dossiers-publics/v-a-inc-et-al/, https://www.ksvadvisory.com/insolvency-cases/case/forme-development-group-inc, https://www.grantthornton.ca/en/service/advisory/creditor-updates/#Open-Hydro-Technology-Canada-Ltd, http://cfcanada.fticonsulting.com/purewal/, Kraus Brands Inc., Kraus Canada Ltd., Kraus Carpet Inc., Kraus Properties Inc., Kraus USA Inc., Strudex Inc., Kraus Brands LP, Kraus Canada LP, Kraus Carpet LP, Kraus Properties LP, Strudex LP, http://www.insolvencies.deloitte.ca/en-ca/kraus, https://www.ksvadvisory.com/insolvency-cases/case/great-slave-helicopters/, www.insolvencies.deloitte.ca/en-ca/groupe-sm. Valle Foam Industries (1995) Inc., Domfoam International Inc. and A-Z Sponge & Foam Products Ltd. http://www.insolvencies.deloitte.ca/en-ca/Pages/Valle%20Foam%20Industries%20. When a corporation restructures their business under the CCAA they will receive short term protection from their creditors to give the business a chance to restructure their financial affairs so the business can … © 2018 - Sun Jan 24 02:02:46 UTC 2021 PwC. Inc., Laura's Shoppe (P.V.) Sign the CCAA User Agreement and forward it to the Designated Assistant Superintendent managing the CCAA program by fax to 1-604-666-4610 or by email at [email protected]. “To permit the debtor to continue to carry on business and, where possible, avoid the social and economic costs of liquidating its assets,” wrote then-justice Marie Deschamps. litwinboyadjian.net/info.aspx?n=Carmen International Inc. MBAC Fertilizer Corp., MBAC Opportunities and Financing Inc., MBAC International Holdings Cooperative U.A. Any discrepancies between the creditor's Proof of Claim and the company's records are investigated by the company. UrtheCast Corp., UrtheCast International Corp., Urthecast USA Inc, 1185729 B.C. Ltd. et al. This decision will be the culmination of a case that McCarthy Tétrault identified as one of the key cases in 2017. Since the beginning of the COVID-19 pandemic, insolvent companies have sought court intervention relating to the payment of rent during lockdown periods. Parties agreed to settle litigation by way of CCAA Plan of Arrangement. Golf Town Canada Holdings Inc., Golf Town Canada Inc. and Golf Town GP II Inc. http://cfcanada.fticonsulting.com/golftown/, http://relieffromdebt.ca/quattro-exploration-production-ltd/, Victory Farms Incorporated and Jonathan Mullen Mink Ranch Limited, http://www.insolvencies.deloitte.ca/en-ca/pages/Victory-Farms.aspx. Ltd. Argent Energy Trust, Argent Energy (Canada) Holdings Inc. and Argent Energy (US) Holdings Inc. https://documentcentre.eycan.com/Pages/Main.aspx?SID=363. — CannTrust Holdings Inc. is staging a comeback more than a year after its licences were suspended for illegally growing thousands of kilograms of dried … North End United Housing Co-Operative Ltd. https://www.grantthornton.ca/en/service/advisory/creditor-updates/#North-End-United-Housing-Co-operative-Ltd-–-CCAA. Sural Laminated Products Canada Inc., Sural Québec Inc. Quadriga Fintech Solutions Corp., Whiteside Capital Corporation and 0984750 B.C. However, once the Stay has been lifted, the pressures that caused the company to initially file for CCAA protection from its creditors will likely return and, accordingly, it is quite likely that the company will be placed into receivership or bankruptcy. https://www.grantthornton.ca/en/service/advisory/creditor-updates/#Mariner-Seafoods-Inc. Hollinger Canadian Publishing Holdings Co. http://www.insolvencies.deloitte.ca/en-ca/Pages/Allen-Vanguard%20Corporation.aspx?searchpage=Search-Insolvencies.aspx, Brainhunter Inc., Treklogic Inc., Brainhunter Canada Inc., Brainhunter (Ottawa) Inc. and Protec Employment Services Limited, Aero Inventory (UK) Limited, Aero Inventory Plc, https://home.kpmg/ca/en/home/services/advisory/deal-advisory/creditorlinks/aero-inventory-uk-limited-and-aero-inventory-plc.html. MJ Biz reports. In a 2-1 split, the majority held that priming charges granted in a CCAA Initial Order can have priority over the Crown’s statutory deemed trust for unremitted source deductions. Ltd., Heemskirk Canada Holdings Limited, Heemskirk Canada Limited, Custom Bulk Services Inc., and HCA Mountain Minerals (Moberly) Limited, https://www.richter.ca/insolvencycase/roberts-company-canada-limited/, The Clover on Yonge Inc. and The Clover on Yonge Limited Partnership, 1057863 BC Ltd., Northern Resources Nova Scotia Corporation, Northern Pulp Nova Scotia Corporation, Northern Timber Nova Scotia Corporation, 3253527 Nova Scotia Limited, 3243722 Nova Scotia Limited and Northern Pulp NS GP ULC, https://www.ksvadvisory.com/insolvency-cases/case/metro360. The CCAA is restricted to larger corporations, as a corporation must have amounts owing to creditors in excess of $5 million to be eligible to use the Act. Upon Court approval, the company continues forward as outlined under the Plan until it has satisfied the requirements under the Plan. The Supreme Court of Canada, in the 2010 decision Century Services Inc. v. Canada (Attorney General), described the CCAA as being more responsive to a complex reorganization. Creditloans Canada Financing Inc. and Creditloans Canada Capital Inc. On September 30, 2020, an Order (the “CCAA Initial Order”) was granted by the Honourable Madam Justice Shelly Fitzpatrick of the Supreme Court of British Columbia (the “Court”) pursuant to the Companies' Creditors Arrangement Act (the “CCAA”) granting Creditloans Canada Financing Inc. (“Financing Inc.”) and Creditloans Canada … If all of the classes of creditors (and shareholders, if applicable) approve the Plan, the Court must then approve the Plan as a final step. Creditloans Canada Financing Inc. and Creditloans Canada Capital Inc. https://www.bdo.ca/en-ca/extranets/creditloans/. “The longer that stores and restaurants aren’t able to have people in their businesses the more likely they will be to file,” added Milivojevic. The CCAA, or the Companies’ Creditors Arrangement Act, is a federal law in Canada that provides insolvent companies with debts in excess of $5 million an orderly and supervised means to restructure their businesses. Forward by Email. Share on Facebook. Unlike Chapter 11, no new bankruptcy estate is created upon a CCAA filing and the CCAA does not allow a debtor company to make an electronic filing to obtain a skeletal stay of proceedings and then subsequently obtain “first day” relief. Corporations that do not reach this $5 million threshold can utilize the Division I Proposal under the Bankruptcy and Insolvency Act. Tepper Holdings Inc., Tobique Farms Ltd., Tobique Farms Operating Limited, Tobique International Inc., 637454 N.B. The Initial Order provides, among other things, a stay of proceedings which may be extended from … Even though Description of Figure 1. For instance, the Supreme Court of Canada is expected to render judgment in the appeal of Canada v. Canada North Group, 2019 ABCA 314, which deals with the priority ranking of charges granted under the CCAA. PT Holdco, Inc., Primus Telecommunications Canada, Inc., PTUS, Inc., Primus Telecommunications, Inc., and Lingo, Inc. http://cfcanada.fticonsulting.com/Primus/. In the most recent decision on this issue, the Quebec Superior Court (Court) ruled that a debtor undergoing a restructuring under the Companies' Creditors Arrangement Act (Canada) (CCAA) should not be relieved of its obligation to pay post-filing rent, even in circumstances where its ability to use the leased premises is constrained by governmental orders. When looking at CCAA filings from the beginning of 2019, the trend lines look even more dire for big retail firms. Darian Resources Ltd. and Bowview Petroleum Inc. https://relieffromdebt.ca/darian-resources-ltd-and-bowview-petroleum-inc/. Using CCAA to save a business. That includes secured creditors, unsecured creditors and shareholders. Pure Global Cannabis Inc., Puresinse Inc., 237A Advance Inc., 237B Advance Inc., SPRQ Health Group Corp., and The Great Canadian Hemp Company Ltd. Invictus MD Strategies Corp., Greener Pastures MD Ltd., Acreage Pharms Ltd., and 2015059 Alberta Ltd. https://www.richter.ca/insolvencycase/2607380-ontario-inc/. Soccer Express Trading Corp. and Kahunaverse Sports Group Inc. Développement Lachine Est Inc., Construction Frank Catania et Associés Inc., Les Développements Immobiliers F. Catania et Associés Inc., Groupe Frank Catania & Associés Inc., 7593724 Canada Inc., 3886735 Canada Inc., 4204930 Canada Inc., 4167601 Canada Inc., 4286567 Canada Inc. and 4127927 Canada Inc. www.raymondchabot.com/en/companies/public-records/groupe-catania/. Retailers Led Bankruptcy Filings in Canada Over the Past 12 Months: Insolvency Insider Mario Toneguzzi - January 20, 2021 The publication tracks filings and one editor says that they expect an increase in filings in early 2021 following rent payment demands from landlords. Ltd., Crailar Fiber Technologies Inc., HTNaturals Apparel Corp. http://www.bowragroup.com/#!crailar-technologies-/iaxon. I look at the CCAA Canada bankruptcy protection filings since the COVID-19 pandemic emergency shutdown and discuss what it means. Canada secures 20M more Pfizer doses as vaccine makers monitor 2nd dose controversy. As part of its filing under the CCAA, FIGR has obtained a Debtor in Possession ("DIP") loan facility from another Pyxus subsidiary to support FIGR and fund its operations through the CCAA … Share on LinkedIn. Print. The Plan of Arrangement is the proposal that the company is presenting to its creditors on how it intends to deal with debt it owes at the time of the initial filing with the Court. The cases were filed after Health Canada discovered illicit cultivation at CannTrust's Pelham, Ont., greenhouse and seized cannabis from unlicensed rooms in the summer of 2019. Magasin Laura (P.V.) Canada North Group Inc., Canada North Camps., Campcorp Structures Ltd., D.J. 8640025 Canada Inc. and Teliphone Data Centres Inc. http://www.boalewood.ca/2016/11/28/8640025-canada-inc/, http://www.insolvencies.deloitte.ca/en-ca/Pages/Parkland-Airport-Development-Corporation.aspx?searchpage=Search-Insolvencies.aspx. On March 4, 2016, Target Canada announced that a settlement has been reached with all of Target Canada's former landlords whose leases were terminated as part of Target Canada's wind-down under the CCAA. Broadacre Agriculture Inc. and Wigmore Farms Ltd. Gradek Energy Inc. and Gradek Energy Canada Inc. http://www.insolvencies.deloitte.ca/en-ca/Pages/Gradek-Energy-Inc.aspx, Québec Lithium Inc. QLI Métaux Inc. RB Energy Inc. and Sirocco Mining, https://home.kpmg/ca/fr/home/services/advisory/deal-advisory/creditorlinks/rb-energy-inc-quebec-lithium-inc-et-al.html. If a class of creditors or the Court does not approve the Plan, the company does not automatically go into bankruptcy, but the Stay is lifted. A: Pursuant to most CCAA Orders, generally all payments to creditors owed monies, as of the date of the CCAA filing, are stayed pending the creditors' vote on the Debtor's proposed plan of arrangement and compromise (the "Plan"). In order to be able to vote on the Plan and receive any distribution under it, a creditor must file a Proof of Claim with the Monitor. http://www.insolvencies.deloitte.ca/en-ca/Pages/Stanfield%20Mining%20Group.aspx?searchpage=Search-Insolvencies.aspx. Both CCAA courts allowed the debtors’ requested relief. 101133330 Saskatchewan Ltd. and 101149825 Saskatchewan Ltd. www.insolvencies.deloitte.ca/en-ca/10113 3330and101149825SkLtd. Inc. https://home.kpmg/ca/en/home/services/advisory/deal-advisory/creditorlinks/lauras-shoppe-p-v-inc.html, https://home.kpmg.com/ca/en/home/services/advisory/deal-advisory/creditorlinks/co-op-atlantic-co-op-energy-ltd-c-a-realty-ltd.html, https://www.richter.ca/insolvencycase/sfp-canada-ltd/. As part of its filing under the CCAA, FIGR has obtained a Debtor in Possession (“DIP”) loan facility from another Pyxus subsidiary to support FIGR and fund its operations through the CCAA proceedings. If you need additional information, contact the monitor for that proceeding. In parallel, while the CCAA prohibits any person from terminating or amending any agreement because of the debtor’s CCAA or insolvency filing, the CCAA expressly carves out a person’s ability to require “payments to be made in cash for goods, services, use of leased property or other valuable consideration provided after the commencement of proceedings” under the CCAA. The cases were filed after Health Canada discovered illicit cultivation at CannTrust’s Pelham, Ont., greenhouse and seized cannabis from unlicensed rooms in the summer of 2019. Catering Ltd., 816956 Alberta Ltd., 1371047 Alberta Ltd. http://cfcanada.fticonsulting.com/searscanada, https://www.raymondchabot.com/dossiers-publics/gestion-eric-savard-inc-et-als/, https://www.richter.ca/insolvencycase/1735825-ontario-inc/, https://www.raymondchabot.com/en/public-records/groupe-catania/, Sunrise/Saskatoon Apartments Partnerships, 1462598 Ontario Inc. (Tricon Films and Television), https://www.ksvadvisory.com/insolvency-cases/case/tricon-films-and-television-2/, Corporation Mount Real / Mount Real Corporation, Gestion Mracs Ltée / Gestion Mracs Ltd., Real Vest Investments Ltd., and Corporation Real Assurance Acceptation, https://www.raymondchabot.com/dossiers-publics/corporationmountreal/. CannTrust remains under Companies' Creditors Arrangement Act protection as it deals with multiple class action lawsuits and other litigation. If a class of creditors approves the Plan, it is binding on all creditors within the class, subject to the Court's approval of the Plan. Les Grands Travaux Soter Inc., Les Constructions Marc Lussier Inc., 9063-0757 Québec Inc. https://www.raymondchabot.com/en/public-records/les-grands-travaux-soter-inc/, www.raymondchabot.com/dossiers-publics/9 323-7055 quebec-inc/. Firms, each of which is a separate legal entity creditors ( and shareholders, if applicable ) called. Smith Land Inc. 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