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Curo Canada Corp. and LendDirect Corp. - Court Orders
 Third Recognition Order (Recognition of Foreign Orders and Termination of Canadian Recognition Proceedings) |
May 17, 2024 | This Recognition Order granted May 17, 2024 recognized the following orders of the U.S. Bankruptcy Court: i) Order approving the Debtors' Disclosure Statement for, and confirming, the Joint Prepackaged Plan of CURO Group Holdings Corp. and its Debtor affiliates (the "Combined Order"); and ii) Second Interim Order authorizing the Debtors, among other things, to (a) continue to operate their cash management system and maintain existing bank accounts, (b) maintain existing business forms, and (c) perform intercompany transactions. Furthermore, the court order authorizes the Foreign Representative and the Canadian Debtors to take all steps and actions necessary to implement the Plan; approves the activities and fees of the Information Officer and counsel to the Information Officer; and authorizes the Information Officer to file the Termination Certificate upon confirmation from the Foreign Representative that the conditions to the Effective Date have been satisfied or waived. |
| Endorsement of Justice Osborne (Recognition of Foreign Orders and Termination of Canadian Recognition Proceedings) |
May 17, 2024 |
| Order (Recognition of Foreign Orders) |
April 24, 2024 |
This Recognition Order granted April 24, 2024, recognized certain Foreign Proceedings of the U.S. Bankruptcy Court in all provinces and territories of Canada pursuant to Section 49 of the CCAA including: 1) the Final Securitization Order 2) the Securitization Amendment Order, and 3) the Final Critical Vendor Order |
| Endorsement of Justice Osborne (Recognition of Foreign Orders) |
April 24, 2024 |
| Endorsement of Justice Osborne (Recognition of Foreign Orders Motion) |
April 4, 2024 |
| Order (Recognition of Foreign Orders) |
April 4, 2024 | The Recognition Order granted April 4, 2024, recognized certain Foreign Orders in the Chapter 11 Cases including: i) Securitization Amendment Order, ii) Critical Vendor Order, iii) Utilities Order, iv) Final Taxes Order, v) Disclosure Statement Order, and vi) Revised Customer Programs Order. |
| Supplemental Order (Foreign Main Proceeding) |
March 26, 2024 |
The Supplemental Order, inter alia, provided the following relief: (a) Recognized several of the First Day Orders in the Chapter 11 Cases, including the Foreign Representative Order, the Joint Administration Order, the Interim Cash Management Order, the Interim Securitization Order, the Wages Order, the Taxes Order, the Insurance Order, and the Customer Programs Order; (b) Appointed FTI Canada as information officer; (c) Granted a stay of proceedings against the Debtors; (d) All persons having oral or written agreements with the Debtors or statutory or regulatory mandates for the supply of goods and/or services in Canada are hereby restrained until further Order of the Court from discontinuing, altering, interfering with, or terminating the supply of such goods or services (e) Granted a charge (the "Administration Charge") on the Debtors' property in Canada for the benefit of the Debtors' Canadian Counsel, the Information Officer, and counsel to the Information Officers, for professional fees and disbursements incurred in respect of these proceedings (f) Granted a charge (the "D&O Charge") on the Debtors' property in Canada as security for indemnity provided to directors and officers against obligations and liabilities that they may incur as directors and officers of the Canadian Debtors after the commencement of the proceedings, with certain exceptions |
| Initial Recognition Order (Foreign Main Proceeding) |
March 26, 2024 |
The Initial Recognition Order, inter alia, provided the following relief: (a) Declared that CURO Group Holdings Corp. (the "Curo Parent") is a "foreign representative" as defined in section 45 of the CCAA (the "Foreign Representative"); (b) Declared that the centre of main interests for each of the Debtors is the United States of America; and (c) Recognized the Chapter 11 Cases as a "foreign main proceeding" (d) Provided a stay of proceedings with respect to the Debtors' business and property, including its officers and director. |
| Endorsement of Justice Osborne |
March 26, 2024 |
| Interim Stay Order (Foreign Main Proceeding) |
March 25, 2024 |
The Interim Order, inter alia, provided the following relief: (a) A stay of proceedings with respect to the Debtors' business and property, including its officers and directors; and, (b) All persons having oral or written agreements with the Debtors or statutory or regulatory mandates for the supply of goods and/or services in Canada are hereby restrained until further Order of the Court from discontinuing, altering, interfering with, or terminating the supply of such goods or services. |
| Endorsement of Justice Osborne |
March 25, 2024 | The Applicant, CURO Group Holdings Corp. ("CURO Parent"), in its capacity as the Proposed Foreign Representative of itself, CURO Canada Corp. and LendDirect, seeks in this Application foreign recognition and interim stay relief pursuant to Part IV of the Companies' Creditors Arrangement Act ("CCAA") and section 106 of the Courts of Justice Act ("CJA") |
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