FisherCast Global Corporation
CCAA Filing Information
Page last updated: August 22, 2008
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 August 22, 2008
- On August 11, 2008, the Monitor filed its Third Report to Court to inform the Court of (i) the activities of the Company since the Monitor's Second Report; (ii) the Company's request for the approval of the sale of its operations and assets located in Welshpool to Dynacast 2008 Limited (the "Welshpool Assets") and, (iii) the Company's request to pay all its indebtedness due to the Bank of Scotland plc.
On August 20, 2008, the Court granted an order (i) approved the transfer the and sale of the Welshpool Assets , (iii) authorizing repayment of the Company's indebtedness to the Bank of Scotland plc., from the proceeds of sale of the Welshpool Assets; and (iii) approving the Monitor's activities and and actions as outlined in the Third Report.
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[Aug 7, 2008]
On July 29, 2008, the Monitor of FisherCast filed its Second Report to the Court dated July 25, 2008 to inform the Court of (i) the activities of the Company to date; (ii) The Company’s cash flow for the period from June 4 to July 18, 2008; (iii) the status of the Sales Process specifically the proposed sale of the Company’s North American assets and business operations to Dynacast Ontario Holdings Ltd.(the “Dynacast”); (iv) the Company’s request for the approval of the sale of certain operations and assets to Dynacast (the “Transaction”); and (v) the Company’s request for an extension of the Stay Period to August 31, 2008.
On July 29, 2008, the Court granted an order (i) extending the stay of proceedings to August 31, 2008; and (ii) approving the activities and actions of the Monitor as outlined in the Second Report.
On August 1, 2008, the Court granted an order (the “Sale Approval and Vesting Order”) approving the Transaction between FisherCast and Dynacast and vesting the Purchased Assets in Dynacast in accordance with the agreement of purchase and sale.
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[Jul 4, 2008]
On June 27, 2008, PricewaterhouseCoopers Inc., in its capacity as monitor (the "Monitor") of FisherCast Global Corporation ("FisherCast"), filed its First Report to the Court to inform the Court of the (i) the activities of the Company to date; (ii) the Company's cash flow for the period from June 4 to June 23, 2008; (iii) the status of the Sales Process; and (iv) the Company's request for an extension of the Stay Period to July 31, 2008. Also on June 27, 2008, FisherCast made a motion before the Court for an Order extending the Stay Period to July 29, 2008 and an Order approving the conduct and activities of the Monitor. The Court approved the Order on the same day.
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[Jun 6, 2008]
On Wednesday, June 4, 2008, the Ontario Superior Court of Justice (the "Court"), granted an Order (the "Initial Order") providing protection for FisherCast Global Corporation (the "Applicant") pursuant to Companies' Creditors Arrangement Act ("CCAA") (the "CCAA Proceedings") and PricewaterhouseCoopers Inc. ("PwCI") was named as Monitor (the "Monitor"). A stay of proceedings was granted until June 29, 2008 (the "Stay Period").
Pursuant to the Initial Order, the Applicant shall, within ten (10) business days (for known creditors located in Canada) and twenty (20) business days (for creditors located outside of Canada), send a notice and a copy of the Initial Order to its known creditors, other than employees and creditors to which the Applicants owe less than $5,000.00, notifying them of the CCAA Proceedings. In addition, in accordance with the Initial Order, the Monitor is relieved of its obligation under Section 11(5) of the CCAA.
This Web site will be updated as information becomes available.
Motion Materials:
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Notice of Motion, returnable August 20, 2008, an Order approving the sale of the Welshpool Assets. |
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Notice of Motion, returnable June 27, 2008, requesting an extension of the Stay Period to July 29, 2008 and approval of the Monitor's conduct and activities. |
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Notice of Application, returnable June 4, 2008. |
Monitor's Reports:
Court Orders:
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Sale Approval and Limited Distribution Order, dated August 20, 2008. |
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Extension Order, dated July 29, 2008, extending the Stay Period to August 31, 2008. |
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Endorsement of the Extension Order, dated June 27, 2008. |
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Sale Approval and Vesting Order, dated August 1, 2008, approving the purchase and sale agreement. |
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Endorsement of the Sale Approval and Vesting Order, dated August 1, 2008. |
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Order, dated June 27, 2008, extending the Stay Period and approving the Monitor's First Report to Court. |
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Order, dated June 4, 2008, Initial Order. |
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Endorsement, dated June 4, 2008. |
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