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Chapter 15 Proceedings

Primus

On January 19, 2016 PT Holdco, Inc. ("Holdco"), Primus Telecommunications Canada Inc. ("Primus Canada"), PTUS, Inc. ("PTUS"), Primus Telecommunications, Inc. ("PTI") and Lingo, Inc. ("Lingo", and together with PTUS, PTI, Holdco and Primus Canada, the "Primus Entities") sought and obtained an order (as amended from time to time, the "Primus Initial Order") under the Companies' Creditors Arrangement Act (the "CCAA") from the Ontario Superior Court of Justice - Commercial List (the "Court"). Pursuant to the Primus Initial Order, FTI Consulting Canada Inc. has been appointed as Monitor. The Primus Initial Order also provides for a stay of all proceedings against the Primus Entities until February 18, 2016, subject to further extensions by the Court (the "Primus Stay of Proceedings").

On February 10, 2016, the Court issued an order extending the Primus Stay of Proceedings until February 26, 2016.

On February 25, 2016, the Court issued an order extending the Primus Stay of Proceedings until September 19, 2016.

On February 25, 2016, the Ontario Superior Court of Justice issued an Approval and Vesting Order approving the sale transaction contemplated by an Asset Purchase Agreement (as amended) between the Vendors and Birch Communications Inc. (or its permitted assign) (the "Purchaser") dated January 19, 2016.

On April 1, 2016, the Monitor issued its Monitor's Certificate and the sale transaction contemplated by the Asset Purchase Agreement between the Vendors and Birch Communications closed pursuant to its terms.

For additional information please contact the Monitor:
Phone: 416-649-8062
Toll Free: 1 855-649-8062
Fax: 416-642-8101
Email: primus@fticonsulting.com

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