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BZAM Ltd. - Court Orders
 Endorsement of Justice P. Osborne |
October 15, 2024 |
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Approval and Vesting Order |
October 15, 2024 |
The Approval and Vesting Order provides certain relief that includes, among other things: a) aapproving the share purchase agreement dated August 23, 2024 (the "Purchase Agreement") among BZAM Holdings, as vendor, BZAM Management, as target, 1000912353 Ontario Inc. (the "Purchaser"), as purchaser, and Wyld Canada Inc. ("Wyld"), as an interested third-party, and the transaction contemplated thereby (the "Transaction"), inclusive of minor amendments the Applicants and the Purchaser, with the consent of the Monitor, may deem necessary; b) authorizing and directing BZAM Holdings Inc. and BZAM Management Inc. to perform their obligations under the Purchase Agreement and to take such additional steps and execute such additional documents as may be necessary or desirable for the completion of the Transaction and for the conveyance of BZAM Management Inc.'s shares (the "Purchased Shares") to the Purchaser; c) approving the addition of 1001028579 Ontario Inc. ("ResidualCo") as an Applicant in these CCAA proceedings (the "CCAA Proceedings") and vesting all Excluded Assets, Excluded Contracts, and Excluded Liabilities (as such terms are defined in the Purchase Agreement) out of BZAM Management Inc. and into ResidualCo, and discharging all Encumbrances against BZAM Management Inc. and the Retained Assets other than the Permitted Encumbrances (each as defined in the Purchase Agreement); d) vesting in the Purchaser all of BZAM Holdings Inc.'s right, title and interest in and to the Purchased Shares, free and clear of any Encumbrances (as defined in the Approval and Vesting Order); and e) removing BZAM Management Inc. as an Applicant in these CCAA Proceedings. |
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Ancillary Order |
October 15, 2024 |
The Ancillary Order provides certain relief that includes, among other things: a) granting an extension of the Stay Period (as defined below) to and including December 2, 2024; b) approving an amendment to the DIP Agreement (as defined in the ARIO (as defined below)) which, among other things, extends the maturity date under the DIP Loan to December 2, 2024, and reduces the maximum principal amount that the Applicants can borrow under the DIP Loan and the quantum of the DIP Lender's Charge from $41 million to $37 million; c) authorizing and directing the Applicants to distribute the Cash Consideration to Cortland Credit Lending Corporation ("Cortland" and in its capacity as lender, the "DIP Lender"), as partial repayment of the indebtedness owing by the Applicants to Cortland, which shall be applied by Cortland to reduce such indebtedness in accordance with the terms of the DIP Loan; and d) approving the Sixth Report of FTI (the "Sixth Report"), and the activities of the Monitor described therein. |
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Endorsement of Justice Penny Stay Extension and Fee Approval Order |
August 26, 2024 |
The Stay Extension and Fee Approval Order provides certain relief that includes, among other things: a) extending the Stay of Proceedings to and including October 15, 2024; and b) approving the Fifth Report and the activities and conduct of the Monitor as described therein; and c) approving the fees and disbursements of the Monitor and the Monitor's legal counsel from the commencement of these CCAA proceedings to and including July 31, 2024. |
| Endorsement of Justice P. Osborne |
August 12, 2024 | Endorsement of Justice P. Osborne regarding the case conference held on August 7, 2024. |
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Endorsement of Justice P. Osborne Stay Extension Order |
July 15, 2024 |
The Stay Extension Order provides certain relief that includes, among other things: a) extending the Stay of Proceedings to and including August 28, 2024; and b) approving the Fourth Report of the Monitor and the activities and conduct of the Monitor as described therein. |
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Endorsement of Justice P. Osborne |
June 30, 2024 |
| Endorsement of Justice P. Osborne relating to the Motions for Security of Costs heard on June 4, 2024. | |
| Endorsement of Justice P. Osborne |
May 17, 2024 |
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Stay Extension Order |
May 17, 2024 |
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The Stay Extension Order provides certain relief that includes, among other things: a) extending the Stay of Proceedings to and including July 15, 2024; and b) approving the Pre-Filing Report, the First Report, the Second Report, and the Third Report and the activities and conduct of the Monitor as described therein. | |
| Endorsement of Justice P. Osborne |
May 12, 2024 | The Endorsement of Justice P. Osborne regarding the upcoming trial of an issue involving Final Bell in this CCAA proceeding. |
| Endorsement of Justice P. Osborne |
April 19, 2024 | The Endorsement of Justice P. Osborne regarding the adjournment of the trial initially scheduled to be heard on April 22 and April 23, 2024. |
| Endorsement of Justice P. Osborne |
April 12, 2024 | The Endorsement of Justice P. Osborne regarding the procedural issues raised in respect of the upcoming trial of an issue as between the Applicants on the one hand and Final Bell Holdings International Ltd. on the other hand. |
| Endorsement of Justice P. Osborne |
March 8, 2024 |
| SISP Approval Order |
March 8, 2024 | This Order provides certain relief with respect to the Applicant's motions heard on February 28, 2024 and March 8, 2024 that includes, inter alia, approval of the Sale and Investment Solicitation Process (the "SISP") and approval of a Stalking Horse Agreement for the purposes of being the Stalking Horse Bid under the SISP. |
| Amended and Restated Initial Order |
March 8, 2024 |
The Amended and Restated Initial Order provides certain relief that includes, among other things: a) extending the Stay of Proceedings to and including May 25, 2024; b) increasing the maximum principal amount that the Applicants can borrow under the DIP Loan to $41,000,000; and c) increasing the quantum of each of the Administration Charge (to a maximum amount of $1,000,000), the DIP Lender's Charge (to a principal amount of $41,000,000, plus interest, fees and expenses), and the Directors' Charge (to a maximum amount of $12,900,000). |
| Endorsement of Justice P. Osborne |
February 28, 2024 |
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Initial Order |
February 28, 2024 |
| The Initial Order provides certain relief, inter alia, a stay of proceedings against BZAM until and including March 8, 2024. | |
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