Companies' Creditors Arrangement Act

Lydian Announces Receipt of Sanction and Implementation Order and Implementation of Plan of Arrangement With Secured Creditors

Retrieved on: 
Tuesday, July 7, 2020
Lydian International, Companies' Creditors Arrangement Act, Lydian, Lydia, Canadian corporate law, B, Companies, Law by country, Government of Canada

TORONTO, July 06, 2020 (GLOBE NEWSWIRE) -- Lydian International Limited (Lydian or the Company) announced today that the Company, together with Lydian Canada Ventures Corporation (Lydian Canada) and Lydian U.K.

Key Points: 
  • TORONTO, July 06, 2020 (GLOBE NEWSWIRE) -- Lydian International Limited (Lydian or the Company) announced today that the Company, together with Lydian Canada Ventures Corporation (Lydian Canada) and Lydian U.K.
  • Corporation Limited (Lydian UK and together, the Applicants), have received an order (the Sanction and Implementation Order) from the Ontario Superior Court of Justice (Commercial List) approving the Companys previously announced plan of arrangement with its secured creditors (the Plan) in connection with the Applicants Companies Creditors Arrangement Act proceedings.
  • After receipt of the Sanction and Implementation Order, the Applicants implemented the Plan effective as of July 6, 2020.
  • All inquiries regarding the CCAA proceedings, including the Plan, should be directed to the court-appointed Monitor, Alvarez & Marsal Canada Inc. (email: [email protected] or telephone: +1 416-847-5158).

Nemaska Lithium Provides Update on Restructuring Efforts

Retrieved on: 
Monday, June 29, 2020
Chemistry, Physical sciences, Chemical elements, Lithium, Spodumene, Companies' Creditors Arrangement Act

MONTRAL, June 29, 2020 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the Corporation or Nemaska Lithium) provides an update on its restructuring efforts under the Companies Creditors Arrangement Act (the CCAA), initiated on December 23, 2019.

Key Points: 
  • MONTRAL, June 29, 2020 (GLOBE NEWSWIRE) -- Nemaska Lithium Inc. (the Corporation or Nemaska Lithium) provides an update on its restructuring efforts under the Companies Creditors Arrangement Act (the CCAA), initiated on December 23, 2019.
  • Nemaska Lithium is continuing its restructuring efforts, mainly the Sale or Investor Solicitation Process (the SISP) and the claims process, in collaboration with its financial and legal advisers and under the supervision of the CCAA Monitor, PricewaterhouseCoopers.
  • Nemaska Lithium is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide.
  • Further information regarding Nemaska Lithium is available in the SEDAR database ( www.sedar.com ) and on the Corporations website at: www.nemaskalithium.com .

Green Growth Brands Announces Extension of Stay under Insolvency Proceedings

Retrieved on: 
Friday, May 29, 2020
GGB, Companies' Creditors Arrangement Act, OTC Markets Group, Companies, Law by country, Government of Canada

COLUMBUS, Ohio, May 29, 2020 (GLOBE NEWSWIRE) -- Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) and certain of its direct and indirect wholly owned subsidiaries (collectively GGB, the Companyor the Applicants) today provided an update on its insolvency proceedings under the Companies Creditors Arrangement Act (Canada) (CCAA).

Key Points: 
  • COLUMBUS, Ohio, May 29, 2020 (GLOBE NEWSWIRE) -- Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) and certain of its direct and indirect wholly owned subsidiaries (collectively GGB, the Companyor the Applicants) today provided an update on its insolvency proceedings under the Companies Creditors Arrangement Act (Canada) (CCAA).
  • The Company intends to provide further updates on the CCAA proceedings and SISP process when there are significant developments.
  • About Green Growth Brands Inc.
    Green Growth Brands creates remarkable experiences in cannabis.
  • GGB is expanding its cannabis operations throughout the U.S., via dispensaries in Nevada, Massachusetts and Florida.

ENTREC Corporation Granted Extension of Stay Period in CCAA Proceedings

Retrieved on: 
Tuesday, May 26, 2020
Canadian corporate law, Law by country, Government of Canada, Law, Century Services Inc v Canada, Companies' Creditors Arrangement Act

On May 15, 2020, ENTREC obtained an initial order (the Initial Order) from the Court commencing proceedings under the CCAA.

Key Points: 
  • On May 15, 2020, ENTREC obtained an initial order (the Initial Order) from the Court commencing proceedings under the CCAA.
  • The Stay Extension Order amended and restated the Initial Order of the Court to, among other things, extend the stay period provided by the Initial Order to August 7, 2020.
  • As required by the CCAA, pursuant to the Initial Order, Alvarez & Marsal Canada Inc. (the Monitor) was appointed as Monitor of the Company (including its subsidiaries) in its CCAA proceedings.
  • Materials publicly filed in the CCAA proceedings, including copies of the Initial Order and the Restructuring, will be made available on the Monitors website at http://www.alvarezandmarsal.com/entrec .

Delphi Energy Corp. Announces Approval of Interim Financing and Extension of Stay Period to October 9, 2020

Retrieved on: 
Friday, May 22, 2020
Software, Computer programming, Aptiv, Delphi, Companies' Creditors Arrangement Act

The extension of the stay period to October 9, 2020 is expected to allow the Company time to pursue restructuring efforts for the benefit of all stakeholders.

Key Points: 
  • The extension of the stay period to October 9, 2020 is expected to allow the Company time to pursue restructuring efforts for the benefit of all stakeholders.
  • The Company currently intends to work toward developing a plan of compromise or arrangement under the CCAA to be voted on by its creditors.
  • Delphi and certain of its subsidiaries were granted an initial order and protection under the CCAA on April 14, 2020.
  • The forward-looking statements and information contained in this release are based on certain key expectations and assumptions made by Delphi.

ENTREC Announces Strategic Process and Commencement of CCAA Proceedings

Retrieved on: 
Friday, May 15, 2020
Canadian corporate law, Alvarez and Marsal, Stakeholder, Law by country, Companies, Government of Canada, Companies' Creditors Arrangement Act, Insolvency law of Canada, Sun Indalex Finance, LLC v United Steelworkers

ACHESON, Alberta, May 15, 2020 (GLOBE NEWSWIRE) -- ENTREC Corporation (ENTREC or the Company) has announced the commencement of a strategic process (the Strategic Process) to identify and pursue potential strategic options and alternatives with respect to ENTREC and its subsidiaries to maximize value for the benefit of ENTRECs stakeholders.

Key Points: 
  • ACHESON, Alberta, May 15, 2020 (GLOBE NEWSWIRE) -- ENTREC Corporation (ENTREC or the Company) has announced the commencement of a strategic process (the Strategic Process) to identify and pursue potential strategic options and alternatives with respect to ENTREC and its subsidiaries to maximize value for the benefit of ENTRECs stakeholders.
  • As required by the CCAA, pursuant to the Initial Order, Alvarez & Marsal Canada Inc. (the Monitor) has been appointed as Monitor of the Company (including its subsidiaries) in its CCAA proceedings.
  • Materials publicly filed in the CCAA proceedings, including copies of the Initial Order and the Restructuring, will be made available on the Monitors website at http://www.alvarezandmarsal.com/entrec.
  • ENTREC intends to continue to pay its employees for services rendered during the CCAA proceedings and intends to pay its suppliers for goods and services provided to the Company following the commencement of the CCAA proceedings.

Monarch Gold Announces the Sale by Nemaska Lithium of 15,849,455 Monarch Gold Shares

Retrieved on: 
Friday, May 15, 2020
Finance, Financial economics, Companies' Creditors Arrangement Act, Corporate law, Nemaska, Lithium, Restructuring, Share, Corporate finance

MONTREAL, May 15, 2020 /PRNewswire/ -MONARCH GOLD CORPORATION ("Monarch" or the"Corporation") (TSX: MQR) (OTCMKTS: MRQRF)(FRANKFURT: MR7)explains yesterday's record volume due to the sale of the 15,849,455 shares held by Nemaska Lithium in connection with its ongoing restructuring process under the Companies' Creditors Arrangement Act (CCAA) (see press release ).

Key Points: 
  • MONTREAL, May 15, 2020 /PRNewswire/ -MONARCH GOLD CORPORATION ("Monarch" or the"Corporation") (TSX: MQR) (OTCMKTS: MRQRF)(FRANKFURT: MR7)explains yesterday's record volume due to the sale of the 15,849,455 shares held by Nemaska Lithium in connection with its ongoing restructuring process under the Companies' Creditors Arrangement Act (CCAA) (see press release ).
  • Nemaska no longer holds any Monarch shares.
  • "When Nemaska began its restructuring process, we suspected that this block would be put up for sale, but we had no idea of the timing," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarch.
  • "Despite the negative short-term impact this sale has had on our share price following the announcement of major news for Monarch, we are pleased that these shares are now in stronger hands.

Dominion Diamond Mines Obtains Initial Order of Protection Under Companies' Creditors Arrangement Act (CCAA)

Retrieved on: 
Thursday, April 23, 2020
Mining, Minerals, Natural Resources, Diavik Diamond Mine, Dominion Diamond Mines, Companies' Creditors Arrangement Act, Lac de Gras, Companies, Volcanoes, Dominion, Law by country, Lac de Gras kimberlite field, Mining, Minerals, Natural Resources, Diavik Diamond Mine, Dominion Diamond Mines, Companies' Creditors Arrangement Act, Lac de Gras, Companies, Volcanoes, Dominion, Law by country, Lac de Gras kimberlite field

Dominion Diamond Mines ULC announced today that it and certain of its affiliates (collectively, Dominion or the Company) have filed for insolvency protection under the Companies Creditors Arrangement Act ("CCAA") and obtained an order from the Alberta Court of Queens Bench (the "Court") granting Dominion protection under the CCAA.

Key Points: 
  • Dominion Diamond Mines ULC announced today that it and certain of its affiliates (collectively, Dominion or the Company) have filed for insolvency protection under the Companies Creditors Arrangement Act ("CCAA") and obtained an order from the Alberta Court of Queens Bench (the "Court") granting Dominion protection under the CCAA.
  • Under the terms of the Initial Order, FTI will serve as the Court-appointed Monitor of Dominion to oversee the CCAA proceedings and report to the Court.
  • Dominion Diamond Mines ULC is a Canadian mining company and one of the worlds largest producers and suppliers of premium rough diamond assortments to the global market.
  • The Ekati and Diavik Diamond Mines, and the Lac de Gras Diamond Project are located in the Northwest Territories of Canada.

LYDIAN PROVIDES UPDATE ON RESTRUCTURING PROCEEDINGS UNDER THE COMPANIES’ CREDITORS ARRANGEMENT ACT

Retrieved on: 
Wednesday, March 11, 2020
Lydian International, Companies' Creditors Arrangement Act, Lydian, B, CCAA, Law by country, Government of Canada, Law

TORONTO, March 11, 2020 (GLOBE NEWSWIRE) -- Lydian International Limited (Lydian or the Company) announced today that the Companys and its direct and indirect wholly owned subsidiaries, Lydian Canada Ventures Corporation (Lydian Canada) and Lydian U.K.

Key Points: 
  • TORONTO, March 11, 2020 (GLOBE NEWSWIRE) -- Lydian International Limited (Lydian or the Company) announced today that the Companys and its direct and indirect wholly owned subsidiaries, Lydian Canada Ventures Corporation (Lydian Canada) and Lydian U.K.
  • Corporation Limited (Lydian UK), have been granted an extension of protection under the Companies Creditors Arrangement Act (the CCAA) until April 30, 2020.
  • While under CCAA protection, creditors and others are stayed from enforcing any rights against the Company, Lydian Canada, Lydian UK and a number of their direct subsidiaries including Lydian Armenia CJSC.
  • Information about the Companys CCAA proceedings, including all court orders made and the monitors reports, are available on the monitors website, at: http://www.alvarezandmarsal.com/Lydian .

Lydian Announces Fourth Quarter and Year Ended December 31, 2019 Results

Retrieved on: 
Wednesday, March 4, 2020
Ancient Anatolia, Lydian, Lydia, Companies' Creditors Arrangement Act, Forbearance, Ancient Near East, Anatolia

TORONTO, March 04, 2020 (GLOBE NEWSWIRE) -- Lydian International Limited (TSX: LYD) (Lydian or the Company) announced today its results for the three-month period and year ended December 31, 2019.

Key Points: 
  • TORONTO, March 04, 2020 (GLOBE NEWSWIRE) -- Lydian International Limited (TSX: LYD) (Lydian or the Company) announced today its results for the three-month period and year ended December 31, 2019.
  • Lydians Fourth Amended and Restated Forbearance Agreement dated October 14, 2019 (the Fourth A&R Forbearance Agreement) expired on December 20, 2019.
  • To protect the assets and interests of the Company and its stakeholders, Lydian filed for protection under Canadian Companies Creditors Arrangement Act (CCAA) on December 23, 2019.
  • The ultimate agreement, the Fourth A&R Forbearance Agreement, expired on December 20, 2019 and Lydian filed for protection under the CCAA on December 23, 2019.