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Shaw-Almex Industries Limited - Reports

The following reports have been filed in the proceedings:

 Supplement to the Second Report of the Proposal Trustee and the Pre-Filing Report of the Proposed Monitor May 12, 2025
The purpose of the Supplemental Report is to supplement the Second Report and should be read in conjunction with the Second Report.
 
 Second Report of the Proposal Trustee and the Pre-Filing Report of the Proposed Monitor May 11, 2025
The purpose of this Second Report of the Proposal Trustee and Pre-Filing Report of the Proposed Monitor (the "Second Report") is to provide information to this Court with respect to Shaw-Almex Industries Ltd. ("SAIL") and Shaw Almex Fusion, LLC's ("Fusion", and together with SAIL, the "Applicants") application under the Companies' Creditors Arrangement Act, RSC 1985, c. C-36 (the "CCAA") returnable May 13, 2025, seeking:
(a) An Order (the "Initial Order"), inter alia:
i. Continuing the NOI proceeding under the purview of the CCAA;
ii. Declaring the Applicants are each a "debtor company" to which the CCAA applies;
iii. Appointing FTI as the Court-appointed monitor;
iv. Granting a stay of proceedings;
v. authorizing the Applicants to borrow up to a maximum principal amount of $1.836 million under the DIP Facility;
vi. Granting an Administration Charge in the amount of $350,000;
vii. Granting a DIP Lender's Charge in the maximum principal amount of $1.836 million plus fees and interest;
viii. Authorizing up to the maximum amount of $250,000 owing to critical suppliers prior to the Filing Date;
ix. Authorizing Fusion to act as the foreign representative of the Applicants in the United States Bankruptcy Court;
(b) an Order (the "SISP Order"), inter alia, approving a sale, refinancing and investment solicitation process (the "SISP"); and
(c) an Order (the "Discharge Order"), inter alia:
i. approving the activities and conduct of the Proposal Trustee;
ii. approving the fees and disbursements of the Proposal Trustee and its legal counsel;
iii. discharging FTI as Proposal Trustee in connection with the NOI proceeding; and
iv. releasing the Proposal Trustee, counsel to the Proposal Trustee and counsel to SAIL from all claims, liabilities and obligations with respect to their conduct in the NOI proceeding.
 
 First Report of the Proposal Trustee April 24, 2025
The purpose of this First Report is to provide information to the Court on the following:
(a) extending the time to file a proposal pursuant to s. 50.4(9) of the BIA for 11 days, from April 28, 2025, up to and including May 9, 2025 (the "Extended Stay Period");
(b) authorizing SAIL to borrow up to a maximum principal amount of $1 million under an initial debtor-in-possession credit facility (the "Initial DIP Facility");
(c) granting an "Administration Charge"; and
(d) granting a "DIP Lender's Charge."
 

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