Quebec · Receivership (court-appointed)
Approval and Vesting Order
Approval and vesting order · 23 May 2017
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A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing13 verified
- applicantHSBC Bank Canada
- appointeePricewaterhouseCoopers Inc.
- appointee roleReceiver
- commencement date23 May 2017
- courtSUPERIOR COURT (Commercial Division)
- court file no500-11-041305-117
- provincePROVINCE OF QUÉBEC
- closing termsTitle vests in the Purchaser upon issuance of the Receiver's certificate; the Receiver's certificate follows execution and delivery of the Purchase Agreement, payment of the Purchase Price and satisfaction or waiver of all closing conditions.
- order date23 May 2017
- presiding officerJustice Louis J. Gouin
- purchaserBalzac-Points North JV Inc.
- sale outcometext: The Court approved the Transaction and the execution of the Purchase Agreement, vesting the Purchased Assets in Balzac-Points North JV Inc. upon issuance of the Receiver's certificate; net proceeds to be remitted to HSBC Bank Canada. · scope: whole_business · status: approved
- sealed itemsThe Purchase Agreement (Irrevocable Offer to Purchase) is kept confidential and under seal until the earlier of closing of the Transaction or further court order.