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Chesswood Group Limited - Court Orders
The following Court Orders have been granted in the proceedings:
 Endorsement of Justice Osborne (Approval and Reverse Vesting Order and Stay Extension Order) | March 10, 2025 |
| Endorsement of Justice Osborne granting the Approval and Reverse Vesting Order and the Stay Extension Order. | |
| Approval and Reverse Vesting Order | March 7, 2025 |
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The Approval and Reverse Vesting Order includes, inter alia: i. approving the Share Purchase Agreement between Chesswood U.S Acquisitionco Ltd., as the vendor (the "Vendor"), and North Mill Equipment Finance, LLC, as the purchaser (the "Purchaser"), dated as of February 28, 2025, a redacted copy of which is attached as Schedule "A" (including the exhibits and schedules attached thereto and as may be amended, the "Agreement") and the transactions contemplated therein (the "Transactions"), ii. adding CGL Holdco, LLC ("ResidualCo")as a CCAA Party to these CCAA proceedings, iii. vesting and transferring the Excluded Assets, Excluded Contracts and Excluded Liabilities in and to ResidualCo, iv. transferring and vesting in the Purchaser the Purchased Shares free and clear of all Encumbrances, v. sealing the Confidential Exhibit "B-2" to the Fourth Report (the "Confidential Exhibit"), and vi. granting certain related relief. | |
| Stay Extension Order | March 7, 2025 |
| The Stay Extension Order includes extending the Stay Period and related relief until and including May 2, 2025. | |
| Endorsement of Justice Osborne (Approval and Vesting Order and Stay Extension Order) | January 29, 2025 |
| Endorsement of Justice Osborne granting the Approval and Vesting Order and the Stay Extension Order. | |
| Approval and Vesting Order | January 29, 2025 |
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The Approval and Vesting Order includes, inter alia: (i) approving the Asset Purchase Agreement dated January 23, 2025, between Rifco Inc. ("Rifco"), Rifco National Auto Finance Corporation ("Rifco Subsidiary", and together with Rifco, collectively, the "Vendors" and each, a "Vendor") and Vault Auto Finance Corporation ("Vault", with Vault or a permitted assignee thereof, as applicable, referred to herein as, the "Purchaser") (ii) transferring to and vesting in the Purchaser all of the applicable Vendors' right, title and interest in and to the Purchased Assets free and clear of all Claims and Encumbrances (each as defined in the Purchase Agreement) other than any Assumed Liabilities and Permitted Encumbrances (each as defined in the Purchase Agreement), and (iii) granting related relief. | |
| Stay Extension Order | January 29, 2025 |
| The Stay Extension Order includes extending the Stay Period and related relief. | |
| Endorsement of Justice Kimmel | December 19, 2024 |
| Endorsement of Justice Kimmel granting the SISP Approval Order and KERP Approval Order | |
| KERP Approval Order | December 19, 2024 |
| The KERP Approval Order includes, inter alia, approving the KERP, granting the KERP Charge, and related relief. | |
| SISP Approval Order | December 19, 2024 |
| The SISP Approval Order includes, inter alia, approving the Bidding Procedures for the Sale and Investment Solicitation process in respect of the CCAA Parties (other than Rifco National Auto Finance Corporation and Rifco Inc.) and certain related relief. | |
| The Amended and Restated Initial Order ("ARIO") provides certain relief that includes, inter alia: (a) extending the stay of proceedings until and including January 31, 2025 (b) approving a DIP Facility up to US$65,000,000 subject to the terms of the DIP Term Sheet Amended and Restated Initial Order Endorsement of Justice Kimmel |
November 7, 2024 |
| Initial Order granting CCAA protection to the CCAA Parties until and including November 8, 2024 Initial Order Endorsement of Justice Kimmel |
October 29, 2024 |
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