Instant Brands Inc
- Proceeding
- Foreign recognition (CCAA)Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- CV-23-00701159-00CL
- Industry
- Manufacturing
Instant Brands Inc. is the applicant in active insolvency proceedings before the Ontario Superior Court of Justice (Commercial List) under court file CV-23-00701159-00CL, brought on the basis of section 46 of the Companies' Creditors Arrangement Act. The debtor group, comprising the Chapter 11 Debtors including the Canadian Debtors, is financed by two secured facilities. The DIP Term Loan Facility, originally committed at US$132.5 million and fully drawn, was upsized by a US$30 million new super senior first-out tranche under the Third DIP Amendment, bringing total commitments to US$162.5 million as at August 16, 2023. Approximately US$121.4 million of Prepetition ABL borrowings outstanding as at the Petition Date, together with approximately US$22.3 million of issued letters of credit, were rolled up into the DIP ABL Facility.
The officer filed report no. Fifth Report. The Chapter 11 Debtors completed the sale of their appliances business but the housewares sale fell through, so they continue operating the housewares business while pursuing a plan of reorganization; the Canadian Debtors' operations remain integrated with the US head office.
Source: Fifth Report of the Information Officer dated February 23, 2024
Motion Record re Confirmation Order Recognition and Ancillary Relief returnable 26 Feb 2024 — Application / notice of application
Information Officer's Certificate (Appliances), dated 8 November 2023 — Court officer certificate
The officer filed report no. Fourth Report of the Information Officer. The Chapter 11 Debtors have been operating in the ordinary course while advancing the sale of substantially all assets (Appliances and Housewares Transactions) and beginning work on a joint Chapter 11 plan of liquidation.
Source: Fourth Report of the Information Officer dated 13 October 2023
Motion Record re Recognition and Sale Approval Orders returnable 16 October 2023 — Application / notice of application
Notice of Motion re Recognition and Sale Approval Orders returnable 16 October 2023 — Application / notice of application
Motion Record Re Third DIP Amendment Recognition, returnable 18 August 2023 — Application / notice of application
The officer filed report no. Second Report. The Chapter 11 Debtors (including the Canadian Debtors) continue to operate in the ordinary course while stabilizing relationships with stakeholders, and are running a court-approved sale process for all or substantially all of their assets.
Source: Second Report of the Information Officer dated 19 July 2023
Motion Record Re Final DIP and Bidding Procedures Approval, returnable 20 July 2023 — Application / notice of application
The officer filed report no. First Report of the Information Officer. The Chapter 11 Debtors (including the Canadian Debtors) continue to operate their consumer lifestyle brands business, with the Canadian Debtors marketing and selling products in Canada. The DIP Facilities are described as necessary to provide liquidity to continue operating and to fund restructuring efforts.
Source: First Report of the Information Officer dated 21 June 2023
Part IV Application Record of Instant Brands - Vol. 1 of 4 — Application / notice of application
Part IV Application Record of Instant Brands - Vol. 2 of 4 — Application / notice of application
Part IV Application Record of Instant Brands - Vol. 3 of 4 — Application / notice of application
Part IV Application Record of Instant Brands - Vol. 4 of 4 — Application / notice of application
Debtor
Instant Brands Inc
Information officer
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Osborne | Ontario Superior Court of Justice | 9 orders, Jun 2023 – Oct 2023 | 168 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Stikeman Elliott LLP | 15 Jun 2023 | Order · 15 Jun 2023 |
| Interim lenderAbl | Norton Rose Fulbright Canada LLP | 23 Feb 2024 | Service list · 23 Feb 2024 |
| Foreign representative | Stikeman Elliott LLP | 23 Jun 2023 | Factum · 22 Jun 2023 |
| CreditorAd Hoc group of Crossover DIP and Prepetition Term | Dechert LLP | 23 Feb 2024 | Service list · 23 Feb 2024 |
| CreditorAlexander Hartwig | McCague Borlack LLP | 23 Feb 2024 | Service list · 23 Feb 2024 |
| CreditorChapter 11 | Davis Polk Wardwell LLP · Stikeman Elliott LLP | 23 Feb 2024 | Service list · 23 Feb 2024 |
| CreditorInformation Officer | Goodmans LLP | 23 Feb 2024 | Factum · 23 Feb 2024 |
| CreditorKeerthika Godinho, Michael Godinho | McPhadden Samac Tuovi Haté LLP | 23 Feb 2024 | Service list · 23 Feb 2024 |
| CreditorPaolo D'Asti | McNally Gervan LLP | 23 Feb 2024 | Service list · 23 Feb 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Prepetition ABL Lenders (Prepetition ABL Facility) · in 2 casesas of Petition Date — Prepetition ABL Facility; approximately $22.3 million of issued letters of credit also outstanding, rolled up into DIP ABL Facility — Outstanding borrowings totalling approximately $121.4 million as of the Petition Date, deemed substituted/exchanged for ABL DIP Obligations under the DIP ABL Facility (roll-up facility) — debtor: Chapter 11 Debtors (including Canadian Debtors) | $121M USD | Third Report of the Information Officer dated 16 August 2023 |
| Secured | |||
| Secured |
2 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount.
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See all plans5 transactions · 3 not completed · 1 approved · 1 closed — The Appliances Sale Transaction and the Housewares Sale Transaction were to result in the sale of substantially all of the Chapter 11 Debtors' business.Fifth Report of the Information Officer dated February 23, 2024 · 23 Feb 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Centre Lane Partners V, L.P.the housewares business · asset sale | not stated | Not completed | Fourth Report of the Information Officer dated… |
| Centre Lane Partners V, L.P.the appliances business · asset sale | not stated | Not completed | Fourth Report of the Information Officer dated… |
| Conair IB Appliances LLCthe appliances business · asset sale | not stated | Approved | Fourth Report of the Information Officer dated… |
| IB Appliances US Holdings, LLCthe sale of substantially all of the Chapter 11 Debtors' assets · asset sale | not stated | Closed8 Nov 2023 | Fifth Report of the Information Officer dated… |
| IB Housewares US Holdings, LLCthe Housewares Sale Transaction · asset sale | not stated | Not completeddate not stated | Fifth Report of the Information Officer dated… |
Unsecured creditors: not yet estimated.Under the planFifth Report of the Information Officer · 23 Feb 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Holders of Prepetition Term Loan Claims | — | a distributionconditional | Under the planper the monitor | Fifth Report of the Information Officer · 23 Feb 2024 |
| Preferred | all secured and priority claims with the exception of the Prepetition Term Loan Claims | — | paid in fullconditional | Under the planper the monitor | Fifth Report of the Information Officer · 23 Feb 2024 |
| Unsecured | — | — | not yet estimatedconditional | Under the planper the monitor | Fifth Report of the Information Officer · 23 Feb 2024 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
7 engagements · 2 firms — latest: Ernst & Young Inc., 15 Jun 2023 – 16 Feb 2024Fifth Report of the Information Officer · 23 Feb 2024
| Firm | Period | Hours | Fees | Rates | Source | ||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ernst & Young Inc.Information officerperiod 6 of 6 | 15 Jun 2023 – 16 Feb 2024 | — | 3 people | Fifth Report of the Information Officer · 23 Feb 2024 | |||||||||||||||||||||||||||||||||||||||||
3 people — Ernst & Young Inc., 15 Jun 2023 – 16 Feb 2024 · 6 blurred figures
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| Ernst & Young Inc.Information officerperiod 6 of 6 | to 16 Feb 2024Sought | — | not stated | Fifth Report of the Information Officer · 23 Feb 2024 | |||||||||||||||||||||||||||||||||||||||||
| Ernst & Young Inc.Information officerperiod 4 of 6 | to 5 Jan 2024 | 2 people | Fifth Report of the Information Officer · 23 Feb 2024 | ||||||||||||||||||||||||||||||||||||||||||
2 people — Ernst & Young Inc., to 5 Jan 2024 · 6 blurred figures
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| Ernst & Young Inc.Information officerperiod 3 of 6 | to 27 Oct 2023 | 2 people | Fifth Report of the Information Officer · 23 Feb 2024 | ||||||||||||||||||||||||||||||||||||||||||
2 people — Ernst & Young Inc., to 27 Oct 2023 · 6 blurred figures
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| Ernst & Young Inc.Information officerperiod 2 of 6 | to 8 Sep 2023 | 2 people | Fifth Report of the Information Officer · 23 Feb 2024 | ||||||||||||||||||||||||||||||||||||||||||
2 people — Ernst & Young Inc., to 8 Sep 2023 · 6 blurred figures
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| Ernst & Young Inc.Information officerperiod 1 of 6 | to 23 Jun 2023 | 3 people | Fifth Report of the Information Officer · 23 Feb 2024 | ||||||||||||||||||||||||||||||||||||||||||
3 people — Ernst & Young Inc., to 23 Jun 2023 · 9 blurred figures
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| Goodmans LLPCounsel | the Applicable Period | 7 people | Fifth Report of the Information Officer · 23 Feb 2024 | ||||||||||||||||||||||||||||||||||||||||||
7 people — Goodmans LLP, the Applicable Period · 14 blurred figures
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65 blurred figures above
What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.
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See all plansCash on hand
$2.5M USD
As at 31 May 2023First Report of the Information Officer dated 21 June 2023
Professional fees
As at
1 more reported figure
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Endorsement | PDF · Subscribers | |
| Order | PDF · Subscribers | |
Factum of the Applicant, Instant Brands Inc. returnable 26 Feb 24
| PDF · Subscribers | |
Factum of the Information Officer returnable February 26, 2024
| PDF · Subscribers | |
Fifth Report of the Information Officer dated February 23, 2024
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
Supplementary Motion record of the Applicant
| PDF · Subscribers | |
Motion Record re Confirmation Order Recognition and Ancillary Relief returnable 26 Feb 2024
| PDF · Subscribers | |
| Information Officer's Certificate (Appliances), dated 8 November 2023 | PDF · Subscribers | |
Endorsement of Osborne, J., dated 16 October 2023
| PDF · Subscribers | |
| Recognition and Sale Approval Order (Appliances) dated 16 October 2023 | PDF · Subscribers | |
| Recognition and Sale Approval Order (Housewares) dated 16 October 2023 | PDF · Subscribers | |
| Recognition of Foreign Orders and Approval of Reserves dated 16 October 2023 | PDF · Subscribers | |
Fourth Report of the Information Officer dated 13 October 2023
| PDF · Subscribers | |
| Motion Record re Recognition and Sale Approval Orders returnable 16 October 2023 | PDF · Subscribers | |
| Notice of Motion re Recognition and Sale Approval Orders returnable 16 October 2023 | PDF · Subscribers | |
Endorsement of Osborne, J., dated 18 August 2023
| PDF · Subscribers | |
Third DIP Amendment Order dated 18 August 2023
| PDF · Subscribers | |
Factum of the Applicant returnable 18 August 2023
| PDF · Subscribers | |
Third Report of the Information Officer dated 16 August 2023
| PDF · Subscribers | |
| Motion Record Re Third DIP Amendment Recognition, returnable 18 August 2023 | PDF · Subscribers | |
Endorsement of Osborne, J. dated 20 July 2023
| PDF · Subscribers | |
| Final DIP and Bidding Procedures Approval Order dated 20 July 2023 | PDF · Subscribers | |
Second Report of the Information Officer dated 19 July 2023
| PDF · Subscribers | |
| E-Service List as of July 18, 2023 | PDF · Subscribers | |
Motion Record Re Final DIP and Bidding Procedures Approval, returnable 20 July 2023
| PDF · Subscribers | |
Endorsement of Osborne, J. dated 23 June 2023
| PDF · Subscribers | |
Interim DIP Approval Order dated 23 June 2023
| PDF · Subscribers | |
Factum of the Foreign Representative returnable 23 June 2023
| PDF · Subscribers | |
First Report of the Information Officer dated 21 June 2023
| PDF · Subscribers | |
| Interim DIP Approval returnable 23 June 2023 | PDF · Subscribers | |
Endorsement of Osborne, J. dated June 15, 2023
| PDF · Subscribers | |
| Factum of the Applicant returnable 15 June 2023 | PDF · Subscribers | |
Initial Recognition Order dated June 15, 2023
| PDF · Subscribers | |
| Part IV Application Record of Instant Brands - Vol. 1 of 4 | PDF · Subscribers | |
| Part IV Application Record of Instant Brands - Vol. 2 of 4 | PDF · Subscribers | |
| Part IV Application Record of Instant Brands - Vol. 3 of 4 | PDF · Subscribers | |
Part IV Application Record of Instant Brands - Vol. 4 of 4
| PDF · Subscribers | |
Supplemental Order dated June 15, 2023
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Instant Brands Inc” (Foreign recognition (CCAA)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/instant-brands-inc