Hayer Demolition Ltd. and Hayer Group Recycling Ltd.

Overview

On May 31, 2021, Hayer Demolition Ltd. (“Hayer Demo”) and Hayer Group Recycling Ltd. (“Hayer Recycling”) (collectively, the “Companies”) filed a Notice of Intention to Make a Proposal pursuant to subsection 50.4(1) of the Bankruptcy and the Insolvency Act R.S.C., 1985, c. B-3 (“BIA) and Crowe MacKay & Company consented to act as Trustee under the Proposal.

On June 2, 2021, an application to court was made by the Companies’ landlord, Seacliff Holdings Ltd. and Whitewater Developments Ltd. (the “Landlord”), for, among other things, the following:

a) an order declaring that the stay of proceedings pursuant to section 69.4 of the BIA is lifted and sections 69 to 69.31 of the BIA shall no longer apply in respect of the Landlords’ Supreme Court Action No. S-215193, Vancouver Registry;

b) a declaration that the lease between the Companies and the Landlord for the use of the premises is terminated effective May 31, 2021; and,

c) an order that the Companies vacate the premises and authorize the Landlord to remove equipment, vehicles, leasehold improvements, trade fixtures and other personal property (the “Remaining Items”) if not removed by a time specified by the court.

On June 8, 2021, the court granted the order sought by the Landlord referred to above and ordered that the Companies remove the Remaining Items by June 15, 2021.

On June 10, 2021, the Companies filed projected cash flow statements on a weekly basis for the period ending August 27, 2021.

On June 14, 2021, an application to court was made by Hayer Recycling for an order extending the time for the Companies to remove the Remaining Items from June 15, 2021 to June 29, 2021.

On June 16, 2021, the court amended the order dated June 8, 2021, by extending the time for removal of the Remaining Items from the Property.

On June 18, 2021, the court granted that the Companies have until 6:00PM on June 20, 2021 to removal all Remaining Items from the Property. A copy of the consent order is attached below.

On June 30, 2021 the court granted the Companies an extension, to August 13, 2021, to either file a proposal or otherwise seek an order from the court for a further extension. Copies the extension orders are below.

On August 13, 2021, both Hayer Demo and Hayer Recycling filed separate proposals to its creditors. A copy of the creditors packages is available below. The meetings of creditors to consider the proposals will be held by video conference as follows:

Hayer Demo: Wednesday, September 8, 2021 at 10:00AM PST

Hayer Recycling: Wednesday, September 8, 2021 at 11:00AM PST

On September 8, 2021, the Proposals of both Hayer Demo and Hayer Recycling were approved by the creditors. The hearing to approve the Proposals will be held on October 6, 2021 at 9:45AM.

On September 14, 2021, the Proposal Trustee issued the 30-day notice to prove claim pursuant to Section 149 of the BIA. Accordingly, in accordance with Article 3.01 of the Proposals, the Claims Bar Date (the “Claims Bar Date”) has been set as October 15, 2021. Proofs of Claim must be received by the Proposal Trustee on or before 5:00PM PDT on the Claims Bar Date or the claim will be forever barred and extinguished. If you do not file a Proof of Claim by the Claims Bar Date you shall not be entitled to participate in any distribution to creditors.

On October 6, 2021, the court granted the approval of the Companies’ Proposals. Copies of the court orders are attached below.

For further information, please contact Mr. Nelson Allan at (604) 697 5209 or Nelson.Allan@crowemackay.ca.