Le Château Inc. and Château Stores Inc.

CCAA

Page last updated: March 30, 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 of March 30, 2021

On March 30, 2021, following the filing of a motion by the Debtors, the Superior Court of Quebec rendered the following order which provides, among other things, for a stay of all proceedings until July 16, 2021 inclusively, inclusively as well as an amendment to the Liquidation Order and its Sale Guidelines.

We refer you to the order dated March 30, 2021 for further details.

Status of file as of February 16, 2021

On February 16, 2021, following the filing of a motion by the Debtors, the Superior Court of Quebec rendered the following order which provides, among other things:

  • the increase in Directors’ and Officers’ charge from $3 million to $6.2 million;
  • the approval of the retention of a sale advisor for the sale of intellectual property.

We refer you to the order dated February 16, 2021 for further details.

Status of file as of January 15, 2021 

On January 15, 2021, following the filing of a motion by the Debtors, the Superior Court of Quebec rendered the following order which provides, among other things, for a stay of all proceedings until March 31, 2021 inclusively.

We refer you to the order dated January 15, 2021 for further details.

Status of file as of December 30, 2020

On December 30, 2020, the Superior Court of Quebec issued a Rectification judgement on the amended and restated initial order. We refer you to the judgment dated December 30, 2020 for further details.

Status of file as of December 17, 2020 

Pursuant the motion as filed on October 30, 2020 by Le Château Inc. and Château Stores Inc. (the “Debtors”) pursuant to the Bankruptcy and Insolvency Act (the “BIA”), the Superior Court of Québec granted the motion and appointed PricewaterhouseCoopers Inc., in its capacity as Monitor of the Debtors, Receiver of the Debtors' assets. Also, the Quebec Superior Court issued Rectified Amended and Restated Original Order on December 17, 2020.We refer you to the orders dated December 17, 2020 for further details.  

Status of file as of November 2, 2020 

Following the motion as amended on October 30, 2020, filed by Le Château Inc. and Château Stores Inc. (the "Debtors") pursuant to the Companies' Creditors Arrangement Act (Canada) (the "CCAA"), the Superior Court of Québec granted the motion and issued on November 2, 2020, the following orders:

  • an amended and restated Initial Order, which provides, among other things for a stay of all proceedings until January 15, 2021 inclusively;
  • a liquidation order pursuant to the CCAA authorizing the Debtors to proceed with the sale of their assets and the winding down of their operations.

We refer you to the orders dated November 2, 2020 for further details.

Status of file as of October 23, 2020 

Le Château Inc. and Château Stores 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 October 23, 2020. The Debtors are now under the protection of the CCAA and the Initial Order provides for an initial stay of all proceedings until November 2, 2020 inclusively and appoints PricewaterhouseCoopers Inc. as monitor of the business and financial affairs of the Debtors. 

We refer you to the order dated October 23, 2020 for more information.

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Maxime Landry

Senior Associate, PwC Canada

Tel: +1 888 222 1194

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