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Shaw-Almex Industries Limited - Reports
The following reports have been filed in the proceedings:
 Supplement to the First Report of the Monitor |
May 28, 2025 |
| The purpose of the Supplemental Report is to supplement the First Report of the Monitor and should be read in conjunction with the First Report. | |
| First Report of the Monitor |
May 27, 2025 |
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The purpose of this report is to provide information to this Court with respect to the Applicants' motion returnable May 30, 2025, seeking to, among other things: a) extend the Stay of Proceedings until and including July 18, 2025; and b) authorize the Applicants to borrow up to a maximum principal amount of approximately $2,626,500 under the DIP Facility; The purpose of this report is to also provide information to this Court with respect to the Monitor's motion returnable May 30, 2025, seeking to, among other things: a) compel Timothy Shaw, his agents, representatives and anyone else acting on his behalf deliver to the Monitor any and all Property in their possession and control; b) authorize the Monitor to take all reasonable and necessary steps to recover and secure the Property; c) impose restrictions on Timothy Shaw's conduct with respect to the Property and prohibit him from soliciting the Applicants' employees; d) authorize the Monitor to take all reasonable and necessary steps to recover and secure the Property for the benefit of the Applicants; and e) authorize the Monitor to examine under oath any Person reasonably thought to have knowledge of the affairs of the Applicants. | |
| 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 |
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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;
(b) an Order (the "SISP Order"), inter alia, approving a sale, refinancing and investment solicitation process (the "SISP"); andii. 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; (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 |
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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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