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FTI Consulting, Inc. / Collision Kings

For additional information please contact the Monitor's hotline:
Phone: 1-833-277-3986
Fax: 403-232-6116

March 15, 2024

Pursuant to an Order dated February 14, 2024, the Court approved the asset purchase agreement made as of January 31, 2024 (the "Stalking Horse APA"), between the Applicants (the "Vendors") and the purchaser, Lift Auto Group Operating Corporation ("Lift" or the "Purchaser") including any amendments to the Stalking Horse APA resulting from the Purchaser's participation in the Auction, and the transaction contemplated therein, including the sale of the Purchased Assets and assignment of the Assigned Contacts (as defined in the Stalking Horse APA) (the "Stalking Horse Transaction").

On March 13, 2024, the Monitor held an Auction, pursuant to the terms of the SISP, in order to determine the Successful Bid in the SISP. At the Auction, an amended version of the Stalking Horse APA (the "Enhanced Stalking Horse APA") was determined to be the Successful Bid. On March 14, 2024, the Monitor filed its Monitor's certificate (the "Monitor's Bid Selection Certificate") notifying the Court that the Stalking Horse APA was determined to be the Successful Bid.

On March 15, 2024, following the completion of the Stalking Horse Transaction and pursuant to the SISP, the Monitor filed its Monitor's Certificate (the "Monitor's Closing Certificate") notifying the Court that the Enhanced Stalking Horse Transaction has now been completed and closed.

February 7, 2024

On February 7, 2024, Collision Kings Group Inc., CMD Holdings Inc., East Lake Collision Ltd., Mayland Heights Collision Ltd., Sunridge Collision Ltd., 2199931 Alberta Ltd., Collision Kings 3 Ltd., Arrow Auto Body Ltd., CMD Glass Ltd., Royal Vista Collision Ltd., Stathko Investments Ltd., Nick's Repair Service Ltd., 10026923 Manitoba Ltd. and Bunzy's Auto Body Ltd. (collectively the "Applicants" or "Collision Kings Group") sought and obtained an initial order (the "Initial Order") from the Court of King's Bench of Alberta (the "Court") under the Companies Creditors Arrangement Act R.S.C. 1985, c. C-36, as amended ("CCAA"). The Initial Order provides, among other things, a stay of proceedings which may be extended from time to time. Pursuant to the Initial Order, FTI Consulting Canada Inc. was appointed monitor ("Monitor") of the Applicant. Under the Initial Order the Applicant was granted a Stay Period until and including February 17, 2024. Accordingly, a comeback hearing ("Comeback Hearing") is to be scheduled to be heard by the Court on February 14, 2024, where it will hear arguments with respect to the relief granted in the Initial Order.

Contact FTI

FTI Consulting
520 Fifth Avenue S.W.
Suite 1610
Calgary, AB T2P 3R7

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FTI Consulting
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