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The court refused to extend the CCAA stay for the VK Group and granted RBC's application to appoint a receiver under BIA s. 243(1).
The court granted the Monitor's Sale Approval Motion and Ancillary Orders and dismissed the Applicant Companies' motion to terminate/redeem. Core reasons: (1) the Monitor conducted a reasonable, fair and comprehensive SISP consistent with s.36(3) and Soundair principles; (2) successful bidders have standing to be heard; (3) the Applicants failed the threshold 'cash in hand' and transparency requirement—the proposed escrowed financing was conditional on court termination and key transaction documents and parties were undisclosed—so the late redemption could not be trusted to immediately and re…
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The court granted CCAA relief ordering Jace Trucklines to disclose and return San Group inventory, and ordering Central Island Excavating to return a log loader.
The court approved 401601 B.C. Ltd.’s interim financing, rejected OCIM’s proposal and expanded monitor powers, declined an immediate SISP, and extended the CCAA stay briefly.
The Supreme Court of British Columbia approved a global CCAA settlement, amended interim financing, a claims process, a stay extension, and retroactive wind farm transaction approval.
Court granted the requested WEPP order for Headline Promotional; appointed and affirmed KSV as Monitor (per Initial Order reasons); amended and restated the Initial Order to extend the stay to May 3, 2024, increase DIP facility to $1.5M, raise Administration Charge to $450,000 and increase pre-filing payment cap to $500,000; expanded and clarified CRO powers but declined to vest the Monitor with broad authority to approve disbursements (super-monitor powers declined absent exigent circumstances); approved FTI’s engagement and granted a customary charge for the Financial Advisor and approved t…
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The court refused to approve a CCAA lease assignment for Cinema Public House Ltd., finding the proposed assignee lacked sufficient evidence of ability to perform and to pay cure costs.
On the evidence the Registrar found that abridgement of notice was appropriate, a $50,000 administration charge under s.64.2 was fair and reasonable, the s.50.4(9) extension (45 days) was justified because the company acted in good faith and was likely to present a viable proposal without material prejudice to creditors, and the s.50.6 factors were satisfied so the proposed $1.1M DIP financing to 4519497 Nova Scotia Limited, on the lender's term sheet, was approved with super-priority; the Registrar declined to modify the lender's commercial terms because the court cannot compel a lender to a…
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The court approved a CCAA transaction structured as a reverse vesting order, found service adequate, and granted revised third-party releases.
The motion for a stay was dismissed because DGAP failed to demonstrate a serious issue warranting leave to appeal in the CCAA context, could not show clear non‑speculative irreparable harm, and the balance of convenience favored allowing the SPA to close to realize benefits for stakeholders given the supervising judge's findings, undertakings, and ongoing court case management which mitigated the asserted risks.
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