Boutique Jacob Inc.

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CCAA

Page last updated: November 9, 2011

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.


Status of File as at October 31, 2011

On October 31, 2011, the Monitor issued a Certificate of Performance confirming that (i) the Monitor has received from the Petitioners the Distribution Amount (as defined in the CCAA Plan) on October 31, 2011 and (ii) the CCAA Plan has been performed.

Status of File as at September 28, 2011

On October 28, 2011, the Monitor issued a Certificate of Implementation confirming that (i) all the conditions set out in Section 8.1 of the CCAA Plan have occurred or have been satisfied or waived, as the case may be, (ii) the Plan Implementation Date has occurred, and (iii) the CCAA Plan has been implemented.

Status of File as at September 20, 2011

On September 20, 2011, the Quebec Superior Court issued a Sanction Order approving and sanctioning the Plan of Reorganization and Compromise which was approved by the statutory majority of creditors at the meeting held on September 13, 2011.

Status of File as at September 13, 2011

On September 13, 2011, a creditors' meeting was held and the Plan of Reorganization and Compromise was submitted to the vote by the Affected Creditors. The Plan was accepted by the statutory majority of creditors. The Monitor will publish all documents related to this meeting as soon as they are available.

Status of File as at August 19, 2011

On August 19, 2011, the Monitor mailed to all Affected Creditors who have filed and proved their claim a Notice of  Creditors' Meetings. The meeting will be held on Tuesday, September 13, 2011 at 10:00 a.m (Montreal Time) at the Gatineau boardroom of the Fairmont The Queen Elizabeth Hotel in Montreal. The purpose of this meeting is to consider and vote on the Plan of Reorganization and Compromise. All documents related to this meeting are available on this website under section "Creditors's Meeting".

Status of File as at August 11, 2011

On August 11, 2011, the Quebec Superior Court issued a "Seventh Stay Period Extension Order". The stay of proceedings against all creditors has been extended to September 19, 2011.

In addition the following Orders were issued:

  • Creditor's Meeting Order;
  • Order Amending the Key Employees Retention Program;
  • Order for the Approval of Settlement Agreements in Respect of Certain Lien Claims;
  • Order in Respect of Late Claims;
  • Order Reflecting the Transfer and Assignment of Rights and Obligations of CIBC ABL to CIBC as DIP Lender.

In accordance with the Creditor's Meeting Order the Monitor will publish the Meeting Materials on this website no later than August 22, 2011.

Status of File as at July 11, 2011

On July 11, 2011, the Quebec Superior Court issued an ''Order Appointing a Claims Officer'' which has approved the appointment of Joseph R. Nuss as Claims Officer under the Claims Procedure Order.

Status of File as at May 30, 2011

On May 30, 2011, the Quebec Superior Court issued a "Sixth Stay Period Extension Order". The stay of proceedings against all creditors has been extended to August 11, 2011.

Status of File as at April 29, 2011

On April 29, 2011, the Quebec Superior Court issued a "Fifth Stay Period Extension Order". The stay of proceedings against all creditors has been extended to May 30, 2011.

Status of File as at March 25, 2011

On March 25, 2011, the Quebec Superior Court issued a "Fourth Stay Period Extension Order".  The stay of proceedings against all creditors has been extended to April 29, 2011.

Status of File as at February 28, 2011

On February 28, 2011, the Quebec Superior Court issued a "Third Stay Period Extension Order".  The stay of proceedings against all creditors has been extended to March 28, 2011.

The Quebec Superior Court also rendered on the same day an order approving the DIP financing offered by CIBC Asset-Based Lending Inc.

Status of File as at February 18, 2011

On February 10, 2011, the Quebec Superior Court issued a ''Claim Procedure Order'' establishing a claims protocol and a claims bar date of April 4, 2011.

Creditors should be advised that claims bar date is 5:00 p.m. (EDT) on April 4, 2011or, for creditors with restructuring claims (as defined on the Claims Procedure Order), the later of a) April 4, 2011 or b) thirthy (30) days after the date of receipt by the creditor of a notice of resiliation, repudiation or termination of the contrat, lease, employment agreement or other agreement.

All relevant information is made available at the ''Claim Procedure'' section of this website.

Status of File as at January 31, 2011

On January 31, 2011, the Quebec Superior Court issued a "Second Stay Period Extension Order".  The stay of proceedings against all creditors has been extended to February 28, 2011.

Status of File as at December 15, 2010

On December 14, 2010, the Quebec Superior Court issued a “First Stay Period Extension Order”. The stay of proceedings against all creditors has been extended to January 31, 2011.

Creditors should be advised that, at this time, a claims process has yet to be established, and as such, creditors are not yet required to file proof of claim forms with the Monitor. The Monitor will be advising creditors once a claims process has been established.

Status of File as at November 29, 2010

On November 25, 2010, the Quebec Superior Court issued an Amended and Re-stated Initial Order. The initial stay of proceedings against all creditors has been extended until December 14, 2010.

Status of File as at November 19, 2010

On November 18, 2010, Boutique Jacob Inc, 9101-2096 Quebec Inc and 9192-4126 Quebec Inc. (the “Companies”) were granted an Order under the Companies' Creditors Arrangement Act ("CCAA") by the Quebec Superior Court (the "CCAA Order"). PricewaterhouseCoopers Inc. was appointed as Monitor by the CCAA Order.

The CCAA Order provides, among other things, a stay of proceedings against the Companies as well as against Basco IP, LP for an initial period to November 25, 2010.

This web site will be updated as information becomes available.