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Indalex- Status Updates
| July 24, 2013 | |
| The Monitor’s motion for advice and directions was adjourned as a result of a settlement in principle reached by the interested parties for the distribution of funds held by the Monitor. The settlement in principle is subject to documentation and Court approval. | |
| January 24, 2012 | Stay Period extended |
| The Stay Period has been extended until and including 30 days following the release of the Supreme Court of Canada’s decisions on the appeals in Sun Indalex Finance, LLC, et al. v. United Steelworkers et al. | |
| December 1, 2011 | |
| The Supreme Court of Canada has granted leave to appeal the decision of the Court of Appeal regarding pension claims. | |
| October 6, 2011 | |
| Stay Period has been extended until January 31, 2012 | |
| June 6, 2011 | |
| Application filed to seek leave to appeal to the Supreme Court of Canada the Ontario Court of Appeal decision regarding the pension deficits.
See motion materials volume I through III in the Motion Materials Section of this website. |
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| May 02, 2011 | |
| Stay Period extended until September 30, 2011 | |
| April 07, 2011 | |
| The Court of Appeal for Ontario issued a decision in regards to docket C52187 and C52346. The decision is available by following the link to the left entitled “Court Orders”. | |
| February 22, 2011 | |
| Stay Period has been extended until April 30, 2011 | |
| January 11, 2011 | |
| The resolution of claims and status of distributions to creditors with proven claims in the Indalex CCAA Proceedings is pending, and subject to the resolution of several legal issues under appeal in both the US and Canadian Courts. Please refer to the Motion Materials section of the Monitor’s website for additional information with respect to the legal issues currently under appeal and/or review. It is the Monitor’s view that the likely outcome of these appeals/motions will result in insufficient funds in the estate of Indalex to provide for distributions to unsecured creditors.” | |
| October 14, 2010 | Motion filed returnable November 10, 2010 |
| A Motion has been filed (see documents posted in the “Motion Materials” section of this website) returnable November 10, 2010 to seek an Order from the Court to terminate, discharge, and release the Directors’ Charge from the Property amongst other things. | |
| August 5, 2010 | Stay Period Extended through January 31, 2011 |
| A Motion has been filed (see documents posted in the “Motion Materials” section of this website) returnable November 10, 2010 to seek an Order from the Court to terminate, discharge, and release the Directors’ Charge from the Property amongst other things. | |
| May 3, 2010 | |
| Stay Period has been extended until August 6th, 2010 | |
| Feb 5, 2010 | |
| Extension of Stay Period has been granted to May 7, 2010 | |
| Retirement Plan for Salaried Employees – Pension Administrator update Retirement Plan for Executive Employees – Pension Administrator update |
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| On November 5, 2009, Morneau Sobeco was appointed by the Superintendent of Financial Services as the Administrator of the following Indalex pension plans (the “Plans”), to wind up the Plans:
Retirement Plan for Salaried Employees of Indalex Limited and Associated Companies, and Retirement Plan for Executive Employees of Indalex Limited and Associated Companies Members and other beneficiaries of the Plans may contact Morneau Sobeco with questions about the wind up of the Plans as indicated below:
Morneau Sobeco Limited Partnership
Heidi Pietila
Ntumba Tshiteya Members within Canada, but outside of the Greater Toronto Area may also reach us toll free at 1-888-667-6328 |
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| REMINDER – Claims Bar Date: August 28, 2009. | |
| All Proof of Claim forms must be received by the Monitor before 5:00pm on Friday, August 28th. | |
| July 31, 2009 | |
| The sale to SAPA is scheduled to close on July 31, 2009. On July 30, 2009 the Canadian Court approved a Claims Procedure Order, details of which are included on the Claims Procedure page of this website. Additionally the Court approved an extension to the Stay of Proceedings to October 30, 2009. Creditors wishing to file a claim against the Applicants or the Directors and Officers of the Applicants must file their Proof of Claim using Schedule 2 – Proof of Claim with the Monitor before August 28, 2009. Claims not filed by this date will be forever extinguished and barred. | |
| July 28, 2009 | |
| Monitor’s 8th Report – Claims Procedure Order | |
| July 28, 2009 | |
| On July 27, 2009 the Applicants filed a motion returnable July 30, 2009 requesting an order extending the stay of proceedings and approving a claims process. | |
| July 24, 2009 | |
| On July 24, 2009 the Honourable Justice Morawetz released his reasons for the dismissal of the SERP motion. | |
| July 20, 2009 – the Applicants bring a motion to approve the SAPA asset purchase agreement | |
| On July 20, 2009 the Court approved the going concern sale of the Applicants to SAPA. | |
| July 20, 2009 | |
| A joint sale hearing is scheduled for July 20, 2009 to approve the SAPA asset purchase agreement. | |
| July 15 2009 – the Monitor files its Seventh Report with the Court | |
| On July 15, 2009 the Monitor filed with the Court its Seventh Report in respect of the SAPA assets purchase agreement and a preliminary liquidation analysis | |
| July 2, 2009 | |
| On July 2, 2009 the SERP executives filed motion with the Court to reinstate payment of the amounts owing to them under their Supplementary Executive Retirement Plan (“SERP”). | |
| July 2, 2009 – the Court approves the Stalking Horse Process and the Bidding Procedures | |
| July 2, 2009 – the Court approves the Stalking Horse Process and the Bidding Procedures | |
| June 30, 2009 – Indalex files motion for approval of Stalking Horse Process and Bidding Procedres | |
| On June 30, 2009, the Applicants filed a motion, returnable July 2, 2009, seeking approval of the Stalking Horse Bid and the Bidding Procedures. On June 30, 2009, the Monitor filed its Sixth Report in support of the Applicants’ motion. | |
| June 25, 2009 – SERP Motion | |
| SERP Motion | |
| June 19, 2009 – Indalex files motion for approval of Bidding Procedures
June 19, 2009 – Indalex files motion for Sale Approval |
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| On June 19, 2009, the Applicants filed a motion, returnable July 2, 2009, seeking approval of Bidding Procedures for Stalking Horse auction. On June 19, 2009, the Applicants filed a motion, returnable July 20, 2009, for approval of the sale of its assets pursuant to the Stalking Horse Bid or an Alternate Transaction | |
| June 16, 2009 – Indalex files motion for extension of Stay Period to July 24, 2009 | |
| On June 16, 2009, the Applicants filed a motion, returnable June 19, 2009, seeking an extension of the Stay Period to July 24, 2009. On June 16, 2009, the Monitor filed its Fifth Report in support of the Applicants’ motion. | |
| June 12, 2009 – Indalex obtains approval of increase in Canadian Revolving Sub-Commitment under the DIP Credit Agreement | |
| On June 11, 2009, the Applicants filed a motion, returnable June 12, 2009, seeking approval of an increase in Canadian Revolving Sub-Commitment under the DIP Credit Agreement from $24.36 million to $29.5 million. On June 11, 2009, the Monitor filed its Fourth Report in support of the Applicants’ motion. On June 12, 2009, the Court approved an increase in Canadian Revolving Sub-Commitment under the DIP Credit Agreement from $24.36 million to $29.5 million. | |
| May 12, 2009 – Court issues Amended Amended and Restated Initial Order | |
| On May 12, 2009, the Court issued and Amended Amended and Restated Initial Order. | |
| May 11, 2009 – Indalex seeks approval of Cross-Border Protocol | |
| On May 7, 2009, the Applicants filed a motion, returnable May 12, 2009, seeking approval of a Cross-Border Protocol intended to facilitate the co-ordination and efficient administration of the CCAA Proceedings and the Ch. 11 Proceedings. On May 11, 2009, the Monitor filed its Third Report in support of the Applicants’ motion. | |
| April 22, 2009 – Indalex obtains approval of the Marketing Process, of the engagement of Jefferies & Company, Inc. and of the extension of Stay Period to June 26, 2009 | |
| On April 22, 2009, the Honourable Mr. Justice Morawetz granted an Order approving (i) the Marketing Process (ii) the engagement of Jefferies & Company, Inc. to assist with the Marketing Process and (iii) an extension of the Stay Period to June 2009. | |
| April 20, 2009 – Indalex seeks approval of the Marketing Process, of the engagement of Jefferies & Company, Inc. and of the extension of Stay Period to June 26, 2009 | |
| On April 17, 2009, the Applicants filed a motion, returnable April 22, 2008, of the approval of a Marketing Process, of the engagement of Jefferies & Company, Inc. to assist with the Marketing Process and of an extension of the Stay Period to June 2009. On April 20, 2009, the Monitor filed its Second Report in support of the Applicants’ motion | |
| April 8,2009 | |
| On April 8, 2009, the Court granted the Amended & Restated Initial Order which among other things approves DIP Financing of up to $24.26 million for the Applicants. | |
| April 3,2009 | |
| On April 3, 2009, Indalex Limited, Indalex Holdings (B.C.) Ltd., 6326765 Canada Inc. and Novar Inc. (collectively, “Indalex” or the “Applicants”) sought and obtained an Initial Order (the “Initial Order”) under the Companies’ Creditors Arrangement Act (the “CCAA”). Pursuant to the Initial Order, FTI Consulting Canada ULC (“FTI” or the “Monitor”) has been appointed Monitor. The Initial Order also provides for a stay of proceedings against the Applicants, which stay expires May 1, 2009, unless otherwise ordered by the Court. | |
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