No Match Found
Page last updated: September 23, 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.
On September 22, 2021, the Court granted the Amended and Restated Initial Order (the “ARIO”) which extended the Stay Period to October 22, 2021 and approved the Intercompany Charge. The Court also granted the Claims Process Order. Copies of both court orders can be found under the Court Orders tab.
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.
Pursuant to the Claims Process Order, the Petitioner will send a claims notice (the “Claims Notice”) to each known creditor of the Petitioner, which will set out the claim such creditor has against the Petitioner. If a creditor agrees with its claim as set out in the Claims Notice, no further action is required. Any creditor 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 5:00 p.m. Pacific Time on October 15, 2021.
A Court hearing is scheduled for Wednesday, September 22, 2021. At the hearing, Plus Products Inc. (“Plus”) is seeking the Court's approval for the following:
1. Extension of the stay of proceedings until October 22, 2021,
2. Approval of the proposed Intercompany Charge on all the Petitioner’s assets in favour of the Operating Subsidiaries by securing the amounts to be paid, and
3. Approval of the proposed claims process in accordance with the Claims Process Order
The Monitor has posted its First Report to the Court (found under the Monitor’s Reports tab). In addition, 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.
On September 13, 2021 (the "Filing Date"), Plus Products Inc. (“Plus”) 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 September 22 2021, (the “Initial Stay”), subject to any extensions of the Initial Stay that the Court might grant upon application by Plus.
Notice of the CCAA and the Monitor’s appointment will be emailed or mailed to all affected creditors shortly.
The initial application materials have been posted under the Motion Materials tab. The Initial Order is posted under the Court Orders tab.
The next court application will be next Wednesday, September 22, 2021.
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.
Only Plus has filed for protection from its creditors under the CCAA. The Plus Group’s Operating Subsidiaries (listed below) have not filed for protection under the CCAA and will continue to operate in the ordinary course.
Plus Products Holdings Inc,
Uplift Services LLC,
Plus Products Nevada LLC,
Plus Products Wonders LLC, and
Plus Products Services LLC
Should you have any questions regarding the above, please contact us at the details below:
Hotline: 604 806 7819