Ontario · CCAA

An Amended and Restated Initial Order (the “ARIO”) substantially in the form attached to the Motion Record at Tab 2, amending and restating the Initial Order granted in these proceedings on November 25, 2021 (the “Initial Order”), which among other things: (a) abridges the time for service of the Notice of Motion and the Motion Record herein and dispensing with further service thereof; (b) orders that the Stay Period set out in paragraph 10 of the Initial Order be extended to February 18, 2022; (c) increases the amount of the Administration Charge to $300,000; (d) increases the amount that the Applicants are entitled to borrow under the DIP Facility (as defined below) to $10,000,000; (e) grants Kesmark Estates Ltd. (“Kesmark”), in its capacity as Chief Restructuring Officer (the “CRO”) of the Boreal Entities (as defined below), with the consultation of the Monitor, to conduct an investigation with respect to the Property Transfers (as defined below); (f) directs Aird & Berlis LLP, as Escrow Agent (the “Escrow Agent”) pursuant to the Deposit Trust Agreement dated November 9, 2016 (the “DTA”), to transfer to the Monitor any funds that it currently holds, or in the future may receive or hold, as rental fees for occupancy of units of the Real Property (which, for greater certainty, does not include the Deposits, as defined in the DTA, unless in accordance with the terms and provisions of the DTA); and (g) amends the powers, services and duties that the CRO is authorized to perform to changing the signatory on the Boreal Entities’ bank accounts, and (iii) redirecting mail sent to the Boreal Entities and changing their mailing addresses; and include (i) conducting the Investigation in consultation with the Monitor, (ii) changing the signatory on the Boreal Entities’ bank accounts, and (iii) redirecting mail sent to the Boreal Entities and changing their mailing addresses; and 2. Such further and other relief as this Court deems just

Application / notice of application · 29 November 2021