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Restructuring and insolvency

2175371 Canada Inc. (formerly Le Château Inc.) and 2060788 Inc. (formerly Château Stores Inc.)

Lane
Restructuring and insolvency
Announced
02 May 2022
Province
Quebec
Industry
Consumer & retail
Status
Closed
Latest event
Claims process
What the filing says
On August 31, 2021, following the filing of a motion by the Debtors, the Superior Court of Quebec rendered the following order which provides, among other things: termination of CCAA proceedings upon the filing of an assignment in bankruptcy by 2175371 Canada Inc.; release of the Directors' Charge, the KERP Charge, the Consultant Charge, and the Percentage Rent Charge; discharge of the Monitor; termination of Receivership proceedings and discharge of the Receiver; discharge of the CRO.
Court file number
500-11-059024-204
Judicial district
Québec Superior Court District of Montréal
Proceeding opened
23 Oct 2020
Credits
PricewaterhouseCoopers Inc. (court officer)
priority charge
$6.2 million (Directors' and Officers' Charge)“On February 16, 2021, following the filing of a motion by the Debtors, the Superior Court of Quebec rendered the following order which provides, among other things: the increase in Directors' and Officers' charge from $3 million to $6.2 million; the approval of the retention of a sale advisor for the sale of intellectual property.”
Source

Compiled from public filings, court documents, exchange bulletins and issuer releases. Figures are as disclosed and are not independently verified.

Not financial, investment, legal or tax advice, and not an offer to buy or sell any security. Verify everything before you transact.

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