Quebec · CCAA
Application For A First Day Initial Order, Approval Of A Consulting Agreement And Sale Guidelines, An Amended And Restated Initial Order And Certain Ancillary Relief
Application / notice of application · 14 November 2024
AI summary
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 filing11 verified
- applicantStokes Inc.
- courtSUPERIOR COURT
- court file no500-11-
- provinceQUÉBEC
- statutory basisSections 9, 10, 11, 11.02, 11.03, 11.2, 11.51, 11.52 and 23 of the Companies’ Creditors Arrangement Act, RSC 1985, c C-36
- appointeeErnst & Young Inc.
- appointee rolemonitor
- secured creditorsnote: Letter of credit accommodations balance (CAD component) · page: 10 · as of: date hereof (November 14, 2024) · amount: 775000 · debtor: Stokes Inc. · creditor: Scotiabank Asset Finance (a division of the Bank of Nova Scotia) ("Scotia") · currency: CAD · security: First ranking hypothecs and liens on substantially all the Company's assets and inventory ("Scotia Security")
- secured creditorsnote: Operating line of credit balance (USD component) · page: 10 · as of: date hereof (November 14, 2024) · amount: 1893298.17 · debtor: Stokes Inc. · creditor: Scotiabank Asset Finance (a division of the Bank of Nova Scotia) ("Scotia") · currency: USD · security: First ranking hypothecs and liens on substantially all the Company's assets and inventory ("Scotia Security")
- secured creditorsnote: Letter of credit accommodations balance (USD component) · page: 10 · as of: date hereof (November 14, 2024) · amount: 118417.75 · debtor: Stokes Inc. · creditor: Scotiabank Asset Finance (a division of the Bank of Nova Scotia) ("Scotia") · currency: USD · security: First ranking hypothecs and liens on substantially all the Company's assets and inventory ("Scotia Security")
- secured creditorsnote: Operating line of credit balance; Scotia Loan Agreement matured July 14, 2024; treated as unaffected creditor under Second Forbearance Agreement; loan agreement and forbearance agreements filed under seal · page: 10 · as of: date hereof (November 14, 2024) · amount: 14404054.07 · debtor: Stokes Inc. · creditor: Scotiabank Asset Finance (a division of the Bank of Nova Scotia) ("Scotia") · currency: CAD · security: First ranking hypothecs and liens on substantially all the Company's assets and inventory ("Scotia Security"); also guaranteed by other affiliates including owner of IP rights used by Stokes