On April 5, 2024, Tebo Mill Installations Inc. (“TMI”), Tebo Mill Construction Inc. (“TMC”), Algon Holdings Inc. (“Algon”), Fraserview Fabrication and Machining Inc. (“FFM”), and Ptolemytech Consultants Inc. (“Ptolemytech”) (collectively, the “TEBO Group” or the “Petitioners”) obtained a court order (the “Initial Order”) from the Supreme Court of British Columbia (the “Court”) pursuant to the Companies’ Creditors Arrangement Act, R.S.C. 1985, c-36 (“CCAA”). Crowe Mackay & Company Ltd. has been appointed as Monitor.
The Initial Order provides, inter-alia, a stay of proceedings until and including April 15, 2024 (the “Stay Period”) and may be extended by the Court. During the Stay Period, all parties are prohibited from commencing or continuing legal action against the Companies and all rights and remedies of any party against or in respect of the Companies or its assets are stayed and suspended pursuant to the terms set out in the Initial Order.
On April 11, 2024, the Petitioners filed a Notice of Application returnable April 15, 2024 (the “Comeback Application”) seeking an amended and restated Initial Order (the “ARIO”) to provide for, among others, orders extending the Stay Period from April 15, 2024, up to and including May 6, 2024 (the “Stay Extension”) and amending paragraphs 10(a) and 10(b) of the Initial so as to clarify that the Petitioners may make certain payments of interest to Royal Bank of Canada on account of its pre-filing indebtedness during the pendency of these proceedings and make payments in respect of pre-filing financing leases with the authorization of the Monitor. On April 15, 2024 the Court granted the relief sought in the ARIO. A copy of the ARIO is below.
Shortly after the Monitor filed the MAC report, RBC applied for and obtained an order appointing KPMG Inc. (in such capacity, the “Receiver”) as receiver over all of the assets, undertakings and property of the Petitioners, effective as of May 7, 2024.
On October 11, 2024, the Monitor filed a Notice of Application returnable October 24, 2024 seeking an order (the “Fee Approval and Discharge Order”), among other things, approving its activities in these CCAA proceedings, as well as its fees and that of its counsel, Fasken Martineau DuMoulin LLP. A copy of the Fee Approval and Discharge Order is below.
Application Materials
Petition Record for April 5, 2024
Affidavit No. 1 of Alankar Khara
Affidavit No. 1 of Victor Fong
Affidavit No. 4 of Alankar Khara
Monitor Reports
First Report of the Monitor dated April 12, 2024
Material Adverse Change Report dated April 24, 2024
Court Orders
Initial Order dated April 5, 2023
Amended and Restated Initial Order entered April 15, 2024
Fee Approval Order entered October 24, 2024
Creditor Lists:
Creditor List (April 10, 2024)
Creditor Notices:
Notice to Creditors (April 9, 2024)
Service Lists