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Payless Canada - Receivership


PAYLESS CANADA ENTITIES - RECEIVERSHIP

Please take notice that, on October 29, 2019, the Court issued a Receivership Order that appoints FTI Consulting Canada Inc. as receiver (the "Receiver") without security pursuant to section 243(1) of the Bankruptcy and Insolvency Act of all Employee Distributions (as defined in the sanctioned First Amended and Restated Plan of Compromised and Arrangement of the Payless Canada Entities dated October 16, 2019 (the "CCAA Plan")), cash in the amount of $100 to be transferred by Payless ShoeSource Canada LP, and no other property of the Payless Canada Entities (the "Receivership"), pending service on the Service List of the certificate attached as Schedule "A" to the Receivership Order (the "Receivership Certificate") confirming that the Affected Creditor Distribution Date has occurred (the "Receivership Effective Date").

The Affected Creditor Distribution Date has occurred in relation to the CCAA Plan of the Payless Canada Entities, and the Receiver served the Receivership Certificate on the Service List. The Receivership Effective Date is March 20, 2020

A copy of the Receivership Order granted is located at the following address: Receivership Order

WAGE EARNER PROTECTION PROGRAM ("WEPP")

The primary purpose of the Receivership is to allow for payments from the Federal Government to eligible former employees of the Payless Canada Entities pursuant to the Wage Earner Protection Program Act ("WEPPA"). The administration of the WEPP for the benefit of the former eligible employees of Payless Canada LP is now underway.

Eligible employees will receive a package via regular mail in the coming weeks. If you receive a letter notice informing you about your eligibility to apply to the WEPP, you are strongly encouraged to apply to receive your WEPP payment by completing an online application at the Government of Canada website found below:

For additional information regarding the WEPP, please refer to the Government of Canada's website located at the following address: https://www.canada.ca/en/employment-social-development/services/wage-earner-protection/employee.html

Should you have any further questions about the WEPP or how to file a WEPP claim, please contact Service Canada by calling: i) Toll-free at +1 (866) 683-6516; or ii) TTY at +1 (800) 926-9105.

CONTACT INFORMATION FOR THE RECEIVER

Should you have any questions about the Receivership or the WEPP, please contact the Receiver using the contact information below:
Phone: 416 649 8096
Toll Free: 1 855 718 5255
Fax: 416 649 8101
Email: paylesscanada@fticonsulting.com



 Receivership Certificate
March 20, 2020
 

Contact FTI

FTI Consulting
TD Waterhouse Tower
79 Wellington Street West
Suite 2010, P.O. Box 104
Toronto, Ontario M5K 1G8

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