PCL Packaging Corporation
In the matter of the Companies' Creditors Arrangements Act and in the matter of a plan of compromise or arrangement of PCL Packaging Corporation ("PCL")
On January 25, 2008 BDO Dunwoody Limited, was appointed as the Monitor of PCL under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as Amended ("CCAA"), pursuant to an order of the Ontario Superior Court of Justice (Commercial List). To access the available documentation and other pertinent information concerning this CCAA proceeding, please click on the links on the side menu bar.
STAKEHOLDERS ARE INVITED TO REGISTER to receive notice, by e-mail, when additional documents are posted to this web site. Updates, including all relevant documentation and information concerning this CCAA proceeding will be posted as and when it becomes available. Notice of the new posting will be sent, by e-mail, to all registered stakeholders.
Last Updated: November 26, 2008
What's New
November 26, 2008
The Honourable Mr. Justice Campbell granted an Order (the "Execution Order"), which, inter alia, extended the powers of the Monitor to allow them to execute agreements and documents related to the sale between PCL and 0804235 B.C. Ltd. In support of PCL's application for an extension of the Monitor's powers, the Monitor filed its Eighth Report to Court, dated October 17, 2008.
The Monitor's Eighth Report to the Court was posted on this website (see Monitor's Reports section).
The Extension Order was posted on this website (see Court Orders section).
September 4, 2008
The Honourable Mr. Justice Lederman granted an Order (the "Extension Order"), which, inter alia, extended the Stay of Proceedings under the CCAA under January 16, 2009. The Extension Order also approved a conditional sale to 0804235 BC Ltd. of the real estate. The documents related to the conditional sale and the real estate transaction are temporarily sealed by the Court. In support of PCL's application for an extension of the Stay of Proceeding period, the Monitor filed its Seventh Report to Court, dated August 22, 2008.
The Monitor's Seventh Report to the Court was posted on this website (see Monitor's Reports section).
The Extension Order was posted on this website (see Court Orders section).
July 22, 2008
The Honourable Mr. Justice Campbell granted an Order (the "Extension Order"), which, inter alia, extended the Stay of Proceedings under the CCAA until August 29, 2008. In support of PCL's application for an extension of the Stay of Proceeding period, the Monitor filed its Sixth Report to Court, dated June 25, 2008.
The Monitor's Sixth Report to the Court was posted on this website (see Monitor's Reports section).
The Extension Order was posted on this website (see Court Orders section).
May 2, 2008
The Honourable Mr. Justice Wilton-Siegel granted an Order (the "Extension Order"), which, inter alia, extended the Stay of Proceedings under the CCAA until July 4, 2008. In support of PCL's application for an extension of the Stay of Proceeding period, the Monitor filed its Fourth Report to Court, dated April 24, 2008.
The Monitor's Fifth Report to the Court was posted on this website (see Monitor's Reports section).
The Extension Order was posted on this website (see Court Orders section).
March 28, 2008
The Honourable Mr. Justice Wilton-Siegel granted an Order (the "Auction Agreement Approval Order"), which approved the auction services agreement proposed by Asset Engineering Corporation. In support of PCL's acceptance of the auction services agreement, the Monitor filed its Fourth Report to Court, dated March 14, 2008.
The Monitor's Fourth Report to the Court was posted on this website (see Monitor's Reports section).
The Auction Agreement Approval Order was posted on this website (see Court Orders section).
February 21, 2008
The Honourable Madam Justice Hoy granted an Order (the "Extension Order"), which, inter alia, extended the Stay of Proceedings under the CCAA until April 30, 2008. In support of PCL's application for an extension of the Stay of Proceeding period, the Monitor filed its Third Report to Court, dated February 19, 2008.
The Monitor's Second and Third reports to the Court was posted on this website (see Monitor's Reports section).
The Approval and Vesting Order and the Extension Order was posted on this website (see Court Orders section).
February 14, 2008
The Honourable Madam Justice Hoy granted an Order (the "Approval and Vesting Order") approving a sale of PCL's Saint John, New Brunswick plant to Inteplast. In support of PCL's application for approval of the sale of the Saint John plant, the Monitor filed its Second Report to Court, dated February 11, 2008.
February 11, 2008
The Monitor's First Report dated February 4, 2008 was posted on this website (see Monitor's Reports section). The report was prepared in support of PCL's application for approval of a Marketing Process for the Oakville, Ontario facility, and to update the Court of other activities. On February 6, 2008 the Honourable Mr. Justice Morawetz granted an Order approving the Marketing Process (the "Marketing Process Order"). The Marketing Process Order was posted on this website (see Court Orders section).
January 25, 2008
Today, PCL Packaging Corporation ("PCL" or the "Applicant") was granted protection from its creditors under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as Amended ("CCAA"). The Order dated 25 January 2008 (the "Initial Order") granted by the Honourable Mr. Justice Colin Campbell of the Ontario Superior Court of Justice (Commercial List) states:
"THIS COURT ORDERS that until and including February 23, 2008, or such later date as this Court may order (the "Stay Period"), no proceeding or enforcement process in any court or tribunal (each, a "Proceeding") shall be commenced or continued against or in respect of the Applicant or the Monitor, or affecting the Business or the Property, except with the written consent of the Applicant and the Monitor, or with leave of this Court, and any and all Proceedings currently under way against or in respect of the Applicant or affecting the Business or the Property are hereby stayed and suspended pending further Order of this Court."
The Initial Order was posted on this website (see Court Orders section).
Notices to Creditors
Information will be available later.
Court Orders
Please click the link below to get the document:
Creditors' Claims
Information will be available later.
Monitor's Reports
Please click the links below to get the document:
Claims Procedure
Information will be available later.
Plan of Compromise and Arrangement
Information will be available later.
Sale Process
REQUEST FOR OFFERS TO PURCHASE A LEADING PRODUCER OF LOW DENSITY POLYETHYLENE PRODUCTS
PCL Packaging Corporation ("PCL"), a leading producer of low density polyethylene bags is inviting offers for the purchase of all of the going concern assets of PCL, including the real property, production equipment, inventory, office furniture and fixtures and all undertaking of PCL.
From its 101,000 sq. ft. facility in Oakville, Ontario, Canada, PCL's vertically integrated manufacturing platform and established longstanding relationships with some of the top grocers, foodservices chains and retailers in Canada and U.S., presents a unique acquisition opportunity for strategic purchasers looking to increase capacity and/or expand their current manufacturing capabilities.
This invitation should not be construed as a Sale by Tender. The highest or any offer may not necessarily be accepted and PCL may terminate the sale process at any time.All offers will be considered on an individual basis as and when received, and must be received by no later than Wednesday, 27 February 2008.
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Contact Us
BDO DUNWOODY LIMITED
123 Front St. West, Suite 1200
Toronto, Ontario, Canada
M5J 2M2
Tel: 416-865-0210
Fax: 416-865-0904
Email: pcl@bdo.ca
If you have a question and wish to be contacted, please provide us with the question(s) that you would like answered, together with your contact information.
Your contact information should include your name, the company you represent (if applicable), the type of claim held/nature of interest and a contact number (i.e. telephone and/or fax) or email address where we may reach you.
Please send your enquiry to pcl@bdo.ca or by fax to 416-865-0904.
Although we endeavour to respond to your enquiry within two business days, the volume of enquiries may impact our response time.