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FirstOnSite Restoration G.P. - Status Updates

January 25, 2017

On January 25, 2017, the Court granted (i) a Stay Extension Order, extending the stay of proceedings granted pursuant to the Initial Order to the CCAA Termination Date (as defined therein), and (ii) an Order discharging the Monitor and CRO effective as of the CCAA Termination Date.


October 21, 2016

On October 21, 2016, the Court granted (i) a Stay Extension Order, extending the stay of proceedings granted pursuant to the Initial Order to January 27th, 2017 and (ii) an Order approving a claims process and claims bar date in respect of Eligible Claims.


June 27, 2016

On June 27, 2016, the Court granted (i) a Stay Extension Order, extending the stay of proceedings granted pursuant to the Initial Order to October 31, 2016 and (ii) an Order approving the CRO Agreement between Oriole Partners Ltd. and FirstOnSite and appointing Oriole Partners Ltd. as Chief Restructuring Officer (“CRO”) of FirstOnSite.


June 1, 2016

On June 1, 2016 an Order was granted by the Ontario Superior Court of Justice (Commercial List) with respect to a motion by FirstOnSite for amendments to the Order issued by the Court on May 9, 2016 (the “Approval and Vesting Order”) with respect to the following: i) a Transition Agreement with the Purchaser, ii) Quebec Contracts will not vest free and clear until certain conditions have been met and iii) granting a first ranking charge in favor of the Purchaser on the Quebec Contracts.
On June 1, the Transaction as described in the May 9, 2016 status update, closed on March 8, 2016. A copy of the Monitor's Certificate is available at http://cfcanada.fticonsulting.com/firstonsite/courtOrders.htm


May 19, 2016

On May 19, 2016, the Court granted (i) a Stay Extension Order, extending the stay of proceedings granted pursuant to the Initial Order to June 27, 2016, (ii) a Distribution Order, authorizing certain distributions from the net sale proceeds of the Transaction contemplated by the APA; and (iii) an Assignment Order, assigning the rights and obligations of the Vendor under certain agreements to the Purchaser.


May 9, 2016

On May 9, 2016, the Court granted an Approval and Vesting Order, among other things, approving the sale transaction contemplated under the APA made and entered into between FirstOnSite Restoration L.P. by its general partner FirstOnSite G.P. Inc. (in such capacity, the "Vendor") and 3297167 Nova Scotia Limited (in such capacity, the "Purchaser") for the sale of the Purchased Assets (as defined in the APA) and vesting the Purchased Assets in the Purchaser free and clear of all Encumbrances other than Permitted Encumbrances (each as defined in the APA). The Court also extended the stay of proceedings under the Amended and Restated Initial Order to May 31, 2016. FirstOnSite motions for; (i) an order assigning the rights and obligations of the Vendor under certain agreements to the Purchaser, and
(ii) an order authorizing certain distributions from the net sale proceeds of the sale transaction contemplated by the APA have been adjourned to May 18, 2016.


May 2, 2016

On May 2, 2016, the Court granted an Amended and Restated Initial Order with respect to the Company's application for creditor protection under the CCAA.


April 28, 2016

A hearing is scheduled for 10:00 am on May 9th, 2016 with the Court for a motion filed by FirstOnSite for, among other things:
(i) an order approving the sale transaction (the “Transaction”) contemplated by the Asset Purchase Agreement (“APA”) made and entered into between FirstOnSite Restoration L.P. by its general partner FirstOnSite G.P. Inc. (in such capacity, the "Vendor") and 3297167 Nova Scotia Limited (in such capacity, the “Purchaser”) for the sale of the Purchased Assets (as defined in the APA) and vesting the Purchased Assets in the Purchaser free and clear of all Encumbrances other than Permitted Encumbrances (each as term is defined in the APA);
(ii) an order assigning the rights and obligations of the Vendor under certain agreements to the Purchaser;
(iii) an order authorizing certain distributions from the net sale proceeds of the Transaction contemplated by the APA; and
(iv) an order extending the stay of proceedings granted pursuant to the Initial Order to May 31, 2016.


April 21, 2016

A comeback hearing with respect to the Initial Order granted by the Ontario Superior Court of Justice (Commercial List) (the “Court”) on April 21, 2016 has been scheduled to be heard before the Court on May 2, 2016 at 330 University Ave, Toronto, Ontario.


April 21, 2016

On April 21st, 2016, FirstOnSite G.P. Inc. sought and obtained an initial order (the “Initial Order”) from the Ontario Superior Court of Justice (the “Court”) under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”). The Initial Order provides, among other things, a stay of proceedings until May 20th, 2016 (the “Stay Period”) which may be extended by the Court from time to time. The protections and authorizations provided by the Initial Order were also extended to FirstOnSite Restoration L.P. (together with FirstOnSite G.P. Inc., “FirstOnSite”). Pursuant to the Initial Order, FTI Consulting Canada Inc. was appointed monitor (the “Monitor”) of FirstOnSite.


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