Page last updated: May 8, 2023
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.
On Monday 8 On Monday May 8, 2023, the Court granted two Orders:
Copies of both court orders can be found under the Court Orders Tab. A brief summary is below:
Claims Process Order
In accordance with the Claims Process Order, the Petitioner, with assistance of the Monitor will be implementing the claims process. Copies of all relevant claims process documents have been posted to the Claims Process tab. Please refer to the Claims Process Instruction Letter in the first instance.
Pursuant to the Claims Process Order, the Monitor will send a claims notice (the “Claims Notice”) to each known claimant of the Petitioners as follows:
Any claimant that: (i) disputes the claim set forth in the Claims Notice; (ii) wishes to assert a claim against any director or officer of the Petitioner; (iii) wishes to assert a restructuring claim; or (iv) does not receive a Claims Notice but wishes to assert a claim against the Petitioner or any director or officer, must submit a proof of claim with the Monitor in accordance with the terms of the Claims Process Order.
The Claims Bar Date is 4:00PM Vancouver time on May 29, 2023.
The Restructuring Claims Bar Date is the later of the Claims Bar Date and 15 days calendar days of date included in the relevant Notice of Disclaimer.
Stay Extension Order
The Stay Extension Order granted the following:
The relevant materials can be found under the motion materials tab on this website. The Monitor has also set out its comments on the above in its Third Report, which can be found under the Monitor’s Report tab.
On Thursday May 4, 2023 the following application materials were filed with the Court:
The above materials are in relation to Dealer Media’s initial Notice of Application filed on April 28, 2023, seeking an order to lift the Stay of Proceedings as set out below.
The relevant materials can be found under the motion materials tab on this website.
A Court hearing is scheduled for Monday May 08, 2023. At the hearing, the Petitioners are seeking the Court’s approval for the following:
The Petitioner’s application materials can be found under the Motion Materials tab. A summary of the hearing and any orders made by the Court will be posted to this website shortly after the hearing.
The Monitor has posted its Third Report to the Court (which can be found under the Monitor’s Report’s tab) which inter alia provides detail on the following:
On Friday April 28, 2023, Dealer Media Inc (“Dealer Media”) filed a Notice of Application seeking an order to lift the Stay of Proceedings imposed by the ARIO with respects to the reliefs sought in the Federal Court Action No. T-306-23 against Canada Drives Ltd (a Petitioner in the CCAA). The claims include alleged claims of infringement of Dealer Media’s copyrighted works and seeks, among other relief sought, injunctive relief.
The relevant materials can be found under the motion materials tab on this website.
Late on April 4, 2022 a Court hearing was requested by the Petitioners on short notice to seek an order approving the sale of 133 cars to 2213931 Alberta Ltd. ("Go Auto") for $2.9 million CAD (the "Bulk Sale"), in order to comply with the ARIO.
The Monitor's Second Report, filed on April 5, 2023, sets out the details pertaining to the Bulk Sale (found under the Monitor’s Report tab). The Petitioners anticipate that the proceeds from the Bulk Sale will enable the complete payout of their secured lenders.
On April 5, 2023 the Court approved this order.
On March 30, 2023, the Court granted the Amended and Restated Initial Order (the “ARIO”) which extended the Stay Period to May 15, 2023. The Court also authorized:
The Monitor has posted its First Report to the Court (found under the Monitor’s Reports tab), which provided detail on the following (amongst other things):
The Petitioners filed the Second Affidavit of Cody Green sworn March 24, 2023, and the Third Affidavit of Cody Green sworn March 28, 2023. The Petitioner's application materials can be found under the Motion Materials tab.
The purpose of the Second Affidavit of Cody Green is to inform the Court of the KERP and the Petitioners activities since the Initial Order.
The Third Affidavit of Cody Green pertains to Car-Fre and its non-compliance with the Initial Order prior to March 30, 2023. This matter was resolved on March 30, 2023 after the Notice of Application was submitted, and the details of the resolution were heard in Court on March 30, 2023.
On March 20, 2023 (the "Filing Date"), 1195407 B.C. Ltd., Canada Drives Ltd., USA Drives Ltd., and Canada Drives Auto Finance Ltd. (collectively the “Company” or “the Petitioners”) sought and obtained an Initial Order of the Supreme Court of British Columbia (the “Court”) pursuant to the Companies’ Creditors Arrangement Act (the “CCAA”).
PricewaterhouseCoopers Inc. LIT (“PwC”) was appointed as the Monitor. As a result of the CCAA filing, there is a stay of proceedings in place until March 30, 2023, (the “Initial Stay”), subject to any extensions of the Initial Stay that the Court might grant upon application by the Company.
The next court application will be Thursday March 30, 2023.
Notice of the CCAA and the Monitor’s appointment will be emailed or mailed to all affected creditors shortly and will be posted under the creditor’s communication tab.
The Monitor will post regular status updates to this website and post future Monitor reports and Court materials, as they become available during the CCAA proceedings.