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Restructuring and insolvency

Limited, Indiva Amalco Ltd., Indiva Inc., Vieva Canada Limited and 2639177 Ontario Inc.

Lane
Restructuring and insolvency
Announced
16 Dec 2024
Province
Ontario
Industry
Unclassified
Status
In court
Latest event
Sale process launched
What the filing says
On December 10, 2024, the Court issued the CCAA Termination Order which, among other things: Discharged the Monitor from the CCAA Proceedings effective as of the CCAA Termination Time;
Court file number
CV-24-00722044-00CL
Judicial district
ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
Proceeding opened
13 Jun 2024
Credits
PricewaterhouseCoopers Inc. (court officer)
DIP facility
$2,400,000 (DIP facility)“Approved the increase of the maximum principal amount of the DIP Facility to $2,400,000;”
priority charge
$132,100 (KERP Charge)“Approved the KERP and granted the fourth-ranking KERP Charge in the amount of $132,100 on the Property of the Companies, as security for the KERP;”
priority charge
$2,400,000 (DIP Lender's Charge)“Approved the increase of the DIP Lender's Charge to $2,400,000;”
priority charge
$2,651,000 (Directors' Charge)“Approved the increase of the Directors' Charge to $2,651,000;”
priority charge
$700,000 (Administration Charge)“Approved the increase of the Administration Charge to $700,000;”
stay expiry
2024-09-06“On June 21, 2024, the Court issued the Amended and Restated Initial Order which, among other things: Extended the Stay Period to and including September 6, 2024;”
stay expiry
2024-10-31“On August 30, 2024, the Court issued the Stay Extension and DIP Amendment Order which, among other things: Extended the Stay Period to and including October 31, 2024; and.”
stay expiry
2024-12-16“An order (the " Ancillary Order ") to, among other things: Extend the Stay Period to and including December 16, 2024;”
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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