On February 25, 2010, 4370422 Canada Inc. filed a motion with the Superior Court of Québec pursuant to the provisions of the Companies' Creditors Arrangement Act (the "CCAA"). The same day, the motion was granted and an order was issued appointing Deloitte Restructuring Inc. (formerly Samson Bélair/Deloitte & Touche Inc.) (the "Monitor") as monitor of these proceedings.
On October 4, 2011, a plan of arrangement was submitted by 4370422 Canada Inc. under the CCAA. This plan of arrangement essentially provides for the distribution of an amount of $1 million among the creditors of 4370422 Canada Inc., a settlement which the Monitor estimates to be about 0.05% (½ cent/dollar).
On October 26, 2011, a meeting of creditors was held. At this meeting, the plan of arrangement submitted by 4370422 Canada Inc. was duly accepted by the required majority of creditors.
On June 19, 2012, the Superior Court of Québec approved the plan of arrangement of 4370422 Canada Inc.
In May 2015, the Monitor distributed the amount of $1 million provided under 4370422 Canada Inc.'s plan of arrangement among the affected and qualified creditors.
For more information, please contact us at:
Deloitte Restructuring Inc.
Monitor of 4370422 Canada Inc.
1190, avenue des Canadiens-de-Montréal, Suite 500
Montreal QC H3B 0M7
Tel.: 514 393-7115
Pierre Laporte, CPA, CA, CIRP
Jean-François Nadon, CPA, CA, CIRP
Benoît Clouâtre, CPA, CA, CIRP
Éric Vincent, CPA, CGA, CIRP
Nov 29, 2020