​​​​​​​​​On May 21, 2024, Eastern Meat Solutions Inc. ("EMS" or the "Company") and its affiliated companies, Sierra Custom Foods (“SCFI”), and Sierra Supply Chain Services Inc. (“SSCS”), among other applicants, initiated proceedings (the “CCAA Proceedings”) under the Companies’ Creditors Arrangement Act (the “CCAA”).

On the same day, the Ontario Superior Court of Justice (the “Court”) granted an Initial Order, which, among other things: (i) granted a stay of proceedings up to and including May 31, 2024 (the “Stay Period”); and (ii) appointed Deloitte Restructuring Inc. (“Deloitte”) as Court-appointed monitor of the business and financial affairs of Eastern Meat Solutions Inc. and certain of subsidiaries (in such capacity, the “Monitor”).​