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Just Energy Entities

On March 9, 2021, Just Energy Group Inc., Just Energy Corp., Ontario Energy Commodities Inc., Universal Energy Corporation, Just Energy Finance Canada ULC, Hudson Energy Canada Corp., Just Management Corp., Just Energy Finance Holding Inc., 11929747 Canada Inc., 12175592 Canada Inc., JE Services Holdco I Inc., JE Services Holdco II Inc., 8704104 Canada Inc., Just Energy Advanced Solutions Corp., Just Energy (U.S.) Corp., Just Energy Illinois Corp, Just Energy Indiana Corp., Just Energy Massachusetts Corp., Just Energy New York Corp., Just Energy Texas I Corp., Just Energy, LLC, Just Energy Pennsylvania Corp., Just Energy Michigan Corp., Just Energy Solutions Inc., Hudson Energy Services LLC, Hudson Energy Corp., Interactive Energy Group LLC, Hudson Parent Holdings LLC, Drag Marketing LLC, Just Energy Advanced Solutions LLC, Fulcrum Retail Energy LLC, Fulcrum Retail Holdings LLC, Tara Energy, LLC, Just Energy Marketing Corp., Just Energy Connecticut Corp., Just Energy Limited, Just Solar Holdings Corp., and Just Energy (Finance) Hungary ZRT. (together, the "Applicants" or the "Just Energy Group") sought and obtained an order (as amended from time to time, the ("Initial Order")) from the Ontario Superior Court of Justice (the "Canadian 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 (the "Stay Period") which may be extended by the Court from time to time. Pursuant to the Initial Order, FTI Consulting Canada Inc. has been appointed as monitor (the "Monitor").

All materials filed in the U.S. Chapter 15 Proceedings, including the First Day Orders as they are signed and uploaded, are available on the website of the U.S. Debtors' Claims and Noticing Agent, Omni Agent Solutions case website: Omni Agent Solutions

Stay Period

In an Order dated November 3, 2022, the Canadian Court extended the Stay Period to January 31, 2023.

Reverse Vesting Order

On November 3, 2022, the Canadian Court issued an order (the "Approval and Vesting Order"), inter alia:

a) approving the transaction agreement (as amended, the "Transaction Agreement") dated August 4, 2022 between Just Energy and LVS III SPE XV LP, TOCU XVII LLC, HVS XVI LLC, OC II LVS XIV LP, OC III LFE I LP and CBHT Energy I LLC (collectively, the "Sponsor") and the transactions contemplated therein (collectively, the "Transaction");
b) Adding 14487893 Canada Inc. and 11368, LLC (collectively, the "Residual Cos.") as Applicants to these CCAA proceedings;
c) vesting in and to the Residual Cos., as applicable, all of the right, title and interest of the Just Energy Entities not listed on Schedule 2.2(f) of the Transaction Agreement (the "Acquired Entities") in and to the Excluded Assets, the Excluded Contracts and the Excluded Liabilities (each as defined in the Transaction Agreement);
d) discharging Claims and Encumbrances, other than the Permitted Encumbrances, against the Acquired Entities and the Retained Assets (as defined in the Approval and Vesting Order);
e) authorizing and directing Just Energy (U.S.) Corp. ("JEUS") to issue the Purchased Interests (as defined in the Transaction Agreement), and vesting all of the right, title and interest in and to the Purchased Interests absolutely and exclusively in and to the Sponsor, free and clear of any Encumbrances;
f) authorizing and directing Just Energy to file the Articles of Reorganization (as defined in the Transaction Agreement); and,
g) terminating and cancelling or redeeming the Subject Interests (as defined in the Approval and Vesting Order) for no consideration.

The effect of the Transaction is that, following closing, the Purchaser will own all of the issued and outstanding shares of JEUS and in turn, JEUS will own all of the issued and outstanding shares of Just Energy and the Acquired Entities.

The Transaction stipulates a "Closing Date" that is the earlier of:

a) Five business days after the closing conditions are satisfied; and
b) December 14, 2022, or such later date agreed to by Just Energy and the Purchaser in consultation with the Monitor (the "Outside Date").

Following the closing of the Transaction, the Just Energy Entities will exit the CCAA and Chapter 15 proceedings, and continue business in the normal course thereafter. The Residual Cos. and the entities other than the Acquired Entities will continue to be Applicants in the CCAA proceedings. A copy of the Approval and Vesting Order can be obtained under the Court Orders section of this website.

Claims Process

On September 15, 2021, Canadian Court issued an order (the "Claims Procedure Order"). The Claims Procedure Order commences a claims procedure (the "Claims Process") for the purpose of identifying and determining all Claims against the Just Energy Entities and their respective Directors and Officers. Pursuant to the Claims Procedure Order, Omni Agent Solutions was appointed Claims Agent (the "Claims Agent") for the Claims Process. Please refer to the Claims Procedure section of this website for additional information regarding the Claims Process.

Please note that the Claims Bar Date was November 1, 2021, and the website for the Claims Agent's website can be accessed at the following address:
Omni Agent Solutions

Please note that the SISP Approval Order suspended the ongoing claims review, claims determination and dispute resolution processes as of August 18, 2022, subject to certain exceptions, pending further Order of the Canadian Court.

As noted in Paragraph 36 of the Twelfth Report of the Monitor, the Transaction does not provide for any recoveries to General Unsecured Creditors.

Further details relating to this matter may be accessed by using the menu to the left, or contacting the Monitor using the information below:
Phone: 1-416-649-8127
Toll Free: 1-844-669-6340
Fax: 1-416-649-8101
General Email Inquiries: justenergy@fticonsulting.com
Claims Procedure Inquiries: claims.justenergy@fticonsulting.com

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