Examples of Canadian Recognition Proceedings in a sentence
The Canadian Recognition Proceedings are ancillary in nature to the Chapter 11 Cases, which are the focus of the Debtors’ restructuring efforts.
Except as set forth in Schedule 4.6 and except for (i) the Cases, (ii) the Canadian Recognition Proceedings, (iii) the Citibank Case, and (iv) the BrandCo Litigation, no litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of the Borrower, threatened against the Borrower or any of its Subsidiaries or against any of their Properties which, taken as a whole, would reasonably be expected to have a Material Adverse Effect.
Skillsoft Canada has been appointed the Debtors’ foreign representative for purposes of the Canadian Recognition Proceedings [D.I. 79], and the Canadian Court has granted initial recognition of these Chapter 11 Cases and the interim DIP financing order [D.I. 86].
The fees and expenses of the professionals retained by the Debtors in the Canadian Recognition Proceedings are subject to the fee application process in the Canadian Court.
The Cases were commenced on the Petition Date and the Canadian Recognition Proceedings were commenced thereafter, duly authorized in accordance with applicable laws, and proper notice thereof has been or will be given of (i) the motion seeking approval of the Loan Documents, the Interim Order, the Final Order, the Canadian Interim DIP Recognition Order and the Canadian Final DIP Recognition Order, and (ii) the hearing for the entry of the Final Order and the Canadian Final DIP Recognition Order.
The Debtors or Liquidating Trustee, as the case may be, shall, as needed to effect the terms hereof, request the aid and recognition of any court or judicial, regulatory or administrative body in any province or territory of Canada, including the Canadian Court presiding over the Canadian Recognition Proceedings, or any other nation or state.
This familiarity will enhance the efficiency of the Canadian Recognition Proceedings.
Since the overwhelming majority of known potential creditors of TKJP in Canada are also potential creditors of TKH, adding the Japanese Debtors as applicants in the existing Canadian Recognition Proceedings will reduce administrative inefficiency and ensure potential creditors are appropriately apprised of both the Chapter 11 Proceedings and the Japanese Proceedings.
It is necessary for the efficient, expedient and equitable progress of the restructuring of the Debtors and the completion of the Global Transaction for the recognition proceedings with respect to Japanese Debtors to be combined with the recognition proceedings with respect to the Chapter 11 Debtors that have already been commenced in the Canadian Recognition Proceedings.
Notwithstanding anything to the contrary herein, upon the prior written consent of the Plan Sponsors, the TSN Debtors shall be permitted to disclose (i) the terms of this Agreement and (ii) the fact that this Agreement has been executed, to the extent required by applicable law or regulation, or in connection with required filings in the Bankruptcy Cases or the Canadian Recognition Proceedings, or with the Securities and Exchange Commission, the Federal Communications Commission or Industry Canada.