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KANWAL INC. AND 9058-0150 QUEBEC INC.

CCAA/Receiver

Page last updated: August 24, 2021

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 24, 2021

A Vesting Order was rendered on August 23, 2021 and amended on August 24, 2021 by the Superior Court of Quebec, the whole following a Motion dated August 6, 2021.

We refer you to the Order and Amended Order in the “Motions and Orders” section for more details.

Status of file as at June 30, 2021

On June 30, 2021, a Safeguard Order was rendered by the Superior Court of Quebec following a Motion dated June 25, 2021.

We refer you to the Order in the “Motions and Orders” section for more details.

Status of file as at April 12, 2021

PricewaterhouseCoopers Inc., in its capacity as Receiver, conduct a sales and investors solicitation process of Kanwal’s ongoing operations.

The timeline is as follows:

  • Transmission of solicitation package to prospective investors/buyers
Week ending April 10, 2021
  • Deadline to submit an offer
May 7, 2021, 3:00 pm
  • Review and acceptance of offer(s)
May 14, 2021
  • Application for Court approval of offer(s) and closing
Week ending May 22, 2021

We refer you to the process letter in the “SISP” section for more details.

For additional information on the solicitation process, please communicate with Maxime Landry (maxime.x.landry@pwc.com) or Philippe Jordan (philippe.jordan@pwc.com).

Status of file as at April 5, 2021

On March 26, 2021, PricewaterhouseCoopers Inc. became the Receiver in respect of the property of Kanwal Inc. according to an order rendered by the Superior Court of Quebec.

We refer you to the order dated March 26, 2021 for more details.

Status of file as at March 22, 2021

On March 19, 2021, the Superior Court of Québec issued an order rejecting the Application for Approval of Interim Financing and for an Extension of the Stay of Proceedings dated February 25, 2021.

We refer you to the order dated March 19, 2021 for more details.

Status of file as at March 12, 2021

On March 10, 2021, the Superior Court of Québec issued an order approving the extension of the Initial Stay of Proceedings Period until March 19, 2021.

We refer you to the order dated March 10, 2021 for more details.

Status of file as at March 2, 2021

On February 26, 2021, following the filing of a motion by the Debtors, the Superior Court of Québec issued an order postponing the case to March 9, 2021 and approving the extension of the Initial Stay of Proceedings Period until March 11, 2021.

We refer you to the order dated February 26, 2021 for more details.

Status of file as at February 10, 2021

On February 10, 2021, following the filing of a motion by the Debtors, the Superior Court of Québec issued an order approving the extension of the Initial Stay of Proceedings Period until February 26, 2021.

We refer you to the order dated February 10, 2021 for more details.

Status of file as at February 4, 2021

Kanwal Inc. and 9058-0150 Quebec Inc. filed a petition for continuance of the BIA proceedings under the Companies’ Creditors Arrangement Act (“CCAA”) and for adding 9058-0150 Quebec Inc. to the proceedings. The Superior Court of Quebec granted the petition and issued an Initial Order pursuant to the CCAA on January 29, 2021. The Initial Order provides for a stay of all proceedings until February 8, 2021 against the Debtors as well as against Groupe Kanwal Inc. and Société en commandite Industriel-Léger and appoints PricewaterhouseCoopers Inc. (Philippe Jordan, CPA, CMA, CIRP, LIT) as Monitor of the business and financial affairs of the Debtors.

We refer you to the order dated January 29, 2021 for more information.

Status of file as at January 11, 2021

On January 11, 2021, following the filing of a motion by Kanwal Inc., the Superior Court of Québec issued a judgment approving a fourth extension of the time for filing a proposal until January 30, 2021. We refer you to the judgment dated January 11, 2021 for more details.

Status of file as at November 23, 2020

On November 23, 2020, following the filing of a motion by Kanwal Inc., the Superior Court of Québec issued a judgment approving a third extension of the time for filing a proposal until January 11, 2021. We refer you to the judgment dated November 23, 2020 for more details.

Status of file as at October 14, 2020

On October 13, 2020, following the filing of a motion by Kanwal Inc., the Superior Court of Québec issued a judgment approving a second extension of the time for filing a proposal until November 27, 2020. We refer you to the judgment dated October 13, 2020 for more details.

Status of file as at August 31, 2020

On August 31, 2020, following the filing of a motion by Kanwal Inc., the Superior Court of Québec issued a judgment approving a first extension of the time for filing a proposal until October 13, 2020 and authorizing a sale and investment solicitation process (“SISP”). We refer you to the judgment dated August 31, 2020 for more details.

Status of file as at July 30, 2020

Kanwal Inc. has filed with the Official Receiver a Notice of Intention to Make a Proposal pursuant to Subsection 50.4(1) of the Bankruptcy and Insolvency Act on the 30th day of July 2020.

Contact us

Maxime Landry

Senior Associate, PwC Canada

Tel: 514-205-5001, ext. 1322

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