Student Federation of the University of Ottawa Inc.

Receivership

Page last updated: October 2, 2019

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 April 15, 2019, on the application of Student Federation of the University of Ottawa Inc. (the "Applicant"), an Order was granted by the Ontario Superior Court of Justice, pursuant to section 101 of the Courts of Justice Act, R.S.O. 1990, c.C.43, as amended (the “CJA”), appointing PricewaterhouseCoopers Inc., LIT (“PwC”) as receiver and manager (in such capacities, the "Receiver") without security, of all of the assets, undertakings and properties of Student Federation of the University of Ottawa Inc. (“SFUO” or the “Company”).

A Notice and Statement of the Receiver was mailed to all known creditors of the Company on April 29, 2019 in accordance with the provisions of the BIA. A copy of the Notice can be found in the Notices section of this website.

This Web site will be updated as information becomes available.

For more information, please contact: Natalia Chtcherbakova at cmt_processing@ca.pwc.com


Status of File as of October 15, 2019

On October 15, 2019, the Receiver filed its Fifth Report (the “Fifth Report”) with the Court informing the Court of the status of Claims Procedure undertaken pursuant to the Claims Procedure Order.

Status of File as of September 18, 2019

On September 18, 2019, the Court issued the Claims Procedure Order, which among other things, 

  1. Approved the Fourth Report of the Receiver;
  2. Approved the activities of the Receiver as set out in the Fourth Report; and
  3. Approved and authorized the Claims Procedure authorizing, directing and empowering the Receiver to implement and carry out the Claims Procedure substantially in accordance with the terms of the Claims Procedure Order.

Status of File as of September 16, 2019

On September 13, 2019, the Receiver filed a motion for an order (the “Claims Procedure Order”):

  1. Approving the activities of the Receiver as set out in the Fourth Report of the Receiver, dated September 13, 2019 (the “Fourth Report”); and
  2. Approving and authorizing the claims procedure (the “Claims Procedure”) and authorizing, directing and empowering the Receiver to implement and carry out the Claims Procedure substantially in accordance with the terms of the Claims Procedure Order.

On the same date the Receiver filed its Forth Report with the Court.

The motion will be heard on September 16, 2019.

Status of File as of August 20, 2019

On August 19, 2019, the Court issued an order (the “Approval and Vesting Order”), which among other things:

  1. Approved the Second and the Third Reports of the Receiver and the activities of the Receiver described therein;
  2. Approved the execution of the Transition Agreement; and
  3. Approved the transaction contemplated in the Transition Agreement (the “Transaction”).

Status of File as of August 16, 2019

On August 16, 2019, the Receiver filed a motion seeking, among other things, the approval of a proposed Student Union Transition Agreement (the “Transition Agreement”) with the University of Ottawa Student's Union and the University of Ottawa.  This matter will be heard on August 19, 2019.  Further information can be found in the Third Report of the Monitor dated August 16, 2019.

Status of File as of April 30, 2019

On April 30, 2019, the Court issued an order:

  1. Approving the Receiver's First Report and the activities and conduct of the Receiver set out therein;
  2. Approving the Benefit Plan Transition Agreement and authorizing the Receiver to execute the agreement in the form attached as appendix "D" of the First Report.

Among other things, the effect of the Benefit Plan Transition Agreement is that Student Plan Members and Staff Plan Members (as defined in the agreement) who were entitled to coverage under the Benefit Plan as of April 30, 2019 will continue to be entitled to coverage pursuant to the Benefit Plan during the Transition Period.  The reserves under the Benefit Plan will be held in trust (or paid into court after December 31, 2019) pending an agreement or further Court order regarding entitlement to the reserves.

Contact us

Tammy Muradova

Consulting & Deals, PwC Canada

Tel: +1 416 941 8383

Follow PwC Canada