Jack Cooper Canada Group
FollowActive
- Proceeding
- Foreign recognition (CCAA)section 46 of the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- CV-19-625200-00CL
Filings held58
Last activity18 Oct 2019
On the record2,600 days
Secured debt$291
OverviewSummary updated
Jack Cooper Canada Group is the subject of a proceeding under section 46 of the Companies' Creditors Arrangement Act, commenced in the Ontario Superior Court of Justice on September 17, 2019 by Jack Cooper Ventures, Inc. to have the group's Chapter 11 proceedings recognised in Canada. Alvarez & Marsal Canada Inc. is the Information Officer, under court file no. CV-19-625200-00CL. As at July 31, 2019 the JC Canada Group owed CAD 450,000 to approximately 100 trade creditors, no single one owed more than CAD 50,000, and CAD 400,000 to Load Broker Parties and other critical vendors, secured by CAD 500,000 in Load Broker Trust Funds held in trust by the Information Officer. Its net intercompany payable to the Chapter 11 Debtors was USD 16.9 million.
Proceedings AIAsk this case — answers cite the filings
Case updates57 dated entries · 1 undated
#Filing
Book of Authorities of Jack Cooper Ventures Inc. (October 17, 2019) — Application / notice of application
#Report
The officer filed report no. Third Report. The JC Canada Group continues to operate pending closing of the court-approved Sale Transaction, which is expected to preserve going-concern operations, all 181 Canadian jobs, and existing terminal leases and customer relationships; the Information Officer recommends the sale as reasonable.
Source: Third Report of the Information Officer (October 16, 2019)
#Filing
Application filed under section 46 of the CCAA by Jack Cooper Ventures, Inc., seeking Ontario recognition of the Jack Cooper group's Chapter 11 proceedings.
Source: Motion Record
Undated filings1 — no date appears on the document · show
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Parties
Debtor
Jack Cooper Canada Group
Information officer
Alvarez & Marsal
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hainey | Ontario Superior Court of Justice | 10 orders, Aug 2019 – Oct 2019 | 196 cases on record |
| Justice Penny | Ontario Superior Court of Justice | 2 orders, Aug 2019 | 179 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Osler, Hoskin & Harcourt LLP | 9 Aug 2019 | Order · 9 Aug 2019 |
| CreditorCommittee | Sidley Austin LLP | 1 Oct 2019 | Order · 1 Oct 2019 |
| CreditorDIP Term Administrative Agent, Prepetition 1.5Lien Agent and Prepetition Second Lien Agent | Alston & Bird LLP | 11 Oct 2019 | Order · 11 Oct 2019 |
| CreditorPossession | Paul, Weiss, Rifkind, Wharton & Garrison LLP · Weiss, Rifkind, Wharton & Garrison LLP | 1 Oct 2019 | Order · 11 Oct 2019 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Junior Term Loan Lenders - Second Lien Term Loanas of Filing Date — Third on Term Loan Priority Collateral; Fourth on ABL Priority Collateral — JC Canada Group is neither borrower nor guarantor; amount in millions — debtor: US Borrowers only | $291 USD | First Report of the Information Officer (September 6, 2019) |
| 4 | Secured | Cerberus Business Finance Agency, LLC (Cerberus) - First Lien Term Loanas of Filing Date — First on Term Loan Priority Collateral; Second on ABL Priority Collateral — JC Canada Group is neither borrower nor guarantor; amount in millions — debtor: US Borrowers only | $189 USD | First Report of the Information Officer (September 6, 2019) |
| 4 | Secured | Wells Fargo Capital Finance, LLC (Wells Fargo) - ABL Facilityas of Filing Date — First-priority liens on ABL Priority Collateral (cash, accounts receivable, inventory of US Debtors); Canadian Borrowers have not guaranteed obligations; Commitment: $85 million revolving facility with $5 million ABL Canadian Sub-Facility — Amount in millions per document table; JC Canada Group (Canadian Borrowers) had no amount drawn under Canadian Sub-Facility as of Filing Date — debtor: US Borrowers (Jack Cooper Holdings Corp. and certain US-based subsidiaries) | $50 USD | First Report of the Information Officer (September 6, 2019) |
| 4 | Secured | Junior Term Loan Lenders (Wilmington Trust, National Association as administrative agent) - 1.5 Lien Term Loanas of Filing Date — Second on Term Loan Priority Collateral; Third on ABL Priority Collateral — JC Canada Group is neither borrower nor guarantor; amount in millions — debtor: US Borrowers only | $46 USD | First Report of the Information Officer (September 6, 2019) |
| 8 | Unsecured | Intercompany payable to Chapter 11 Debtors (US entities)as of Filing Date — Related party claim; JC Canada Group net intercompany payable position; assumed to be asserted and proven valid in claims process for liquidation analysis purposes — debtor: JC Canada Group | $16.9M USD | First Report of the Information Officer (September 6, 2019) |
| 8 | Unsecured | Affected Creditor Group (vendors including parts suppliers, mechanics, logistics and service providers, landlords and other suppliers)Amounts intended to be stayed during Restructuring Proceedings absent possessory or similar lien claims; comprised of approximately 100 trade creditors with no single creditor owed more than CAD$50,000; potentially affected by priming charge in Interim DIP Order — debtor: JC Canada Group · as of 31 Jul 2019 | $450K | First Report of the Information Officer (September 6, 2019) |
| 8 | Unsecured | Load Broker Parties and other critical vendors (Owner/Operators, third-party brokers and carriers)Chapter 11 Debtors intend to pay these prepetition amounts in the normal course; secured by CAD$500,000 Load Broker Trust Funds held in trust by Information Officer — debtor: JC Canada Group · as of 31 Jul 2019 | $400K | First Report of the Information Officer (September 6, 2019) |
Sale processAs stated in the filings
2 transactions · 1 proposed · 1 approved — Order approving and vesting the Canadian Acquired Assets in the Buyer or Buyer Designee, recognizing the foreign Sale OrderTab 3 – Sale Recognition and Vesting Order · 18 Oct 2019
| Purchaser | Price | Status | Source |
|---|---|---|---|
| referred to as 'New Jack Cooper', a newly formed entity affiliated with the Junior Term Loan Lenders, acting as Stalking Horse BidderStalking horseall or substantially all of the Chapter 11 Debtors' assets, including the assets of the JC Canada Group · asset sale · agreement 23 Aug 2019 | $425M USD (mixed consideration)Purchase price comprised of Cash Consideration, Assumed Liabilities, and release of Chapter 11 Debtors' obligations under the 1.5 Lien Term Loan and Second Lien Term Loan and/or DIP Term Facility in an aggregate amount not less than $425,000,000 minus certain deductions | Proposed | Second Report of the Information Officer… |
| JC Buyer Company, Inc.Stalking horsethe Acquired Assets that are situated in Canada (including for greater certainty Assumed Contracts to which Jack Cooper Transport Canada Inc., Jack Cooper Canada GP 1 Inc., Jack Cooper Canada GP 2 Inc., Jack Cooper Canada 1 Limited Partnership or Jack Cooper Canada 2 Limited Partnership ... are parties) (the ' Canadian Acquired Assets ') · asset sale · nominee/assignee: Buyer Designee · agreement 22 Aug 2019 | $425M USD (credit bid)no less than $425,000,000 plus all accrued and unpaid interest on certain of the Chapter 11 Debtors secured credit facilities, and the Expense Reimbursement | Approved11 Oct 2019 | Tab 2O – US Sale Order (October 11, 2019) (part… |
AdvisorsHoulihan Lokey, Inc. (financial advisor)Third Report of the Information Officer (October 16, 2019)
Closing termsVesting effective upon delivery of the Information Officer's Certificate confirming satisfaction/waiver of closing conditions and completion of the transactionsTab 3 – Sale Recognition and Vesting Order
RecoveriesAs stated in the filings
Unsecured creditors: no distribution.EstimatedThird Report of the Information Officer (October 16, 2019) · 16 Oct 2019
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | Affected Creditor Group | — | no distributionvs. 5–20 % in a bankruptcyconditional | Estimatedper the monitor | Third Report of the Information Officer (October 16, 2019) · 16 Oct 2019 |
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.
Estate financialsReported figures — never derived
Cash on hand
$415K USD
As at 16 Oct 2019Third Report of the Information Officer (October 16, 2019)
Professional fees to date
$189K
As at 16 Oct 2019Third Report of the Information Officer (October 16, 2019)
Documents
58 filings
| Date | Document | File |
|---|---|---|
Endorsement of Justice Hainey dated October 18, 2019
| ||
| Sale Recognition and Vesting Order dated October 18, 2019 | ||
| Book of Authorities of Jack Cooper Ventures Inc. (October 17, 2019) | ||
| Factum of Jack Cooper Ventures Inc. (October 17, 2019) | ||
Third Report of the Information Officer (October 16, 2019)
| ||
| Motion Record - Index | ||
| Tab 2 – Affidavit #4 of Greg R. May (October 15, 2019) | ||
Tab 3 – Sale Recognition and Vesting Order
| ||
Tab 2K – Pension Approval Order (October 11, 2019)
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Tab 2O – US Sale Order (October 11, 2019) (part 1)
| ||
Tab 2O – US Sale Order (October 11, 2019) (part 2)
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Tab 2J – Consent Challenge Period Order (October 1, 2019)
| ||
| Tab 2M – Second Amending Agreement (October 1, 2019) | ||
| Tab 2N – Notice of No Auction (October 1, 2019) | ||
Recognition Order dated September 20, 2019
| ||
Tab 2I – Fifth Supplemental Order (September 20, 2019)
| ||
Endorsement of Justice Hainey dated September 18, 2019
| ||
Recognition Order dated September 18, 2019
| ||
Tab 2H – Fourth Supplemental Order (September 18, 2019)
| ||
Motion Record
| ||
Second Report of the Information Officer (September 17, 2019)
| ||
| Tab 2C – Affidavit #3 of Greg R. May (September 17, 2019) | ||
Endorsement of Justice Hainey dated September 9, 2019
| ||
| Recognition and Intercompany Charge Order dated September 9, 2019 | ||
| Tab 2G – Third Supplemental Order (September 9, 2019) | ||
First Report of the Information Officer (September 6, 2019)
| ||
| Tab 2B – Affidavit #2 of Greg R. May (September 6, 2019) | ||
| Tab 2L – First Amending Agreement (September 3, 2019) | ||
Recognition Order
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Tab 2F – Second Supplemental Order (August 22, 2019)
| ||
| Information Officer’s Certificate | ||
Initial Recognition Order (Foreign Main Proceeding)
| ||
| Notice of Recognition Orders | ||
| Pre-Filing Report of the Proposed Information Officer | ||
| Supplemental Order (Foreign Main Proceeding) | ||
Tab 2D – Initial Recognition Order (August 9, 2019)
| ||
| Tab 2E – Supplemental Order (August 9, 2019) | ||
| Application Record – Index | ||
| Book of Authorities of Jack Cooper Ventures Inc. | ||
| Factum of Jack Cooper Ventures Inc. | ||
| Tab 2 – Affidavit of Greg R. May | ||
| Tab 2A – Affidavit #1 of Greg R. May (August 8, 2019) | ||
| Tab 3 - Affidavit of Waleed Malik (A-C) | ||
| Tab 3 - Affidavit of Waleed Malik (D-F) | ||
| Tab 3 - Affidavit of Waleed Malik (G-I) | ||
| Tab 3 - Affidavit of Waleed Malik (GG-II) | ||
| Tab 3 - Affidavit of Waleed Malik (J-L) | ||
| Tab 3 - Affidavit of Waleed Malik (JJ-SS) | ||
| Tab 3 - Affidavit of Waleed Malik (M-O) | ||
| Tab 3 - Affidavit of Waleed Malik (P-R) | ||
| Tab 3 - Affidavit of Waleed Malik (S-U) | ||
| Tab 3 - Affidavit of Waleed Malik (V-X) | ||
| Tab 3 - Affidavit of Waleed Malik (Y-Z) | ||
Tab 4 - Draft Initial Recognition Order
| ||
| Tab 5 - Draft Supplemental Order | ||
| Tab 3 - Affidavit of Waleed Malik (AA-CC) | ||
| Tab 3 - Affidavit of Waleed Malik (DD-FF) | ||
| Tab 1 – Notice of Application | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Jack Cooper Canada Group” (Foreign recognition (CCAA)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/jack-cooper-canada-group