Page last updated: July 17, 2020
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.
Pursuant the motion filed by DAVIDsTEA Inc. and DAVIDsTEA (USA) Inc. (the "Debtors") on July 7, 2020, the Superior Court of Québec granted the motion and issued an amended and restated Initial Order on July 16, 2020 which provides, among other things, for a stay of all proceedings until September 17, 2020 inclusive. Also, PricewaterhouseCoopers Inc., in its capacity as monitor of the Debtors, was appointed Receiver of the Debtors' assets by another order dated July 16, 2020.
We refer you to the Initial Order (Amended & Restated) dated July 16, 2020 and the Order Appointing a Receiver for further details.
On July 8, 2020, the Monitor applied for the recognition of the CCAA Proceedings in the United States by filing a petition under Chapter 15 of the United States Bankruptcy Code (the “Chapter 15 Proceedings”) before the United States Bankruptcy Court for the District of Delaware (the “U.S. Court”) and on July 9, 2020, the U.S. Court entered an order provisionally enforcing the Initial Order in the United States pending a hearing on the merits of recognition on August 5, 2020.
We refer you to the orders dated July 9, 2020 for more information.
DAVIDsTEA Inc. filed a petition under the Companies’ Creditors Arrangement Act (“CCAA”). The Superior Court of Québec granted the petition and issued an Initial Order pursuant to the CCAA on July 8, 2020. The Debtor is now under the protection of the CCAA and the Initial Order provides for an initial stay of all proceedings until July 17, 2020 inclusively and appoints PricewaterhouseCoopers as monitor of the business and financial affairs of the Debtor.
We refer you to the order dated July 8, 2020 for more information.
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