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Colabor Group Inc. Obtains Creditor Protection Under CCAA and Announces the Appointments of Mr. Marc-Antoine Daoust as Chief Financial Officer and Mr.
Globenewswire· 2026-01-08 22:00
Core Viewpoint - Colabor Group Inc. has entered into protection under the Companies' Creditors Arrangement Act (CCAA) to facilitate its restructuring efforts, with an initial order granted by the Superior Court of Quebec [1][2]. Group 1: CCAA Proceedings - The Superior Court of Quebec has issued an initial order granting Colabor and its subsidiaries protection under the CCAA, allowing for a stay of proceedings against the company and its subsidiaries, including a stay of creditor claims [1][2]. - Raymond Chabot Inc. has been appointed as the Monitor to assist Colabor with its restructuring and to report to the Court [2]. - The initial order includes approval for debtor-in-possession financing (DIP Financing) from The Toronto-Dominion Bank, The Bank of Montreal, and the Bank of Nova Scotia, which will support the sale and investment solicitation process and the company's operations during restructuring [2][3]. Group 2: Management and Operations - The Court has approved a Sale and Investment Solicitation Process (SISP) to allow interested parties to submit proposals for the best possible transaction for Colabor and its stakeholders [3]. - Management will continue to oversee day-to-day operations while under CCAA protection, with oversight from the Monitor [3]. - Mr. Marc-Antoine Daoust has been appointed as Chief Financial Officer, succeeding Mr. Yanick Blanchard, who will now serve as Chief Restructuring Officer [4]. Group 3: Company Overview - Colabor is a distributor and wholesaler of food and related products, serving the hotel, restaurant, and institutional markets in Quebec and the Atlantic provinces, as well as the retail market [7].
SRx Health Solutions Obtains Initial Order under CCAA for its Canadian Subsidiary
Globenewswire· 2025-08-12 18:48
Core Viewpoint - SRx Health Solutions, Inc. announced that its subsidiary, SRx Health Solutions (Canada), Inc., has obtained an Initial Order under the Companies' Creditors Arrangement Act in Canada, allowing for restructuring and financing to stabilize operations and explore potential sales of its business or assets [1][2]. Group 1: Initial Order and CCAA Proceedings - The Ontario Superior Court of Justice granted an Initial Order for SRx Canada under the CCAA, enabling the company to restructure its operations [1][2]. - The Initial Order includes a stay of proceedings in favor of SRx Canada and the appointment of Grant Thornton Limited as the Monitor [6]. Group 2: Financing and Operations - SRx Canada has secured debtor-in-possession (DIP) financing of up to $1,750,000, which will be used for working capital needs and to support ongoing operations during the restructuring process [2][6]. - The DIP financing is expected to provide the necessary time and stability for SRx Canada to complete a Sale Process, which may involve selling all or substantially all of its business or assets [2]. Group 3: Company Overview - SRx Health Solutions, Inc. is a leading integrated healthcare services provider in Canada, operating across all ten provinces and focusing on specialty healthcare services [4]. - The company combines industry knowledge, technology, and a patient-centric approach to enhance patient care and wellness initiatives in Canada [4].