Hematite Group

Creditor and stakeholder information

Background

On September 18, 2020, the Ontario Superior Court of Justice (Commercial List) (the "Court") issued an order (the "Initial CCAA Order") pursuant to the Companies' Creditors Arrangement Act ("CCAA"). This order provided a stay of proceedings against Hematite Holdings Inc., Hematite Manufacturing Inc., Hematite Industrial Products Inc., Canadian Pavaco Inc., Pavaco Holdings U.s. Inc., Hematite, Inc. And Hematite Automotive Products Inc. (the "Hematite Group" or the "Company") until October 2, 2020. Pursuant to the Initial CCAA Order, KPMG Inc. ("KPMG" or the "Monitor") was appointed Monitor of the Company.

On September 22, 2020, each of the Applicants filed petitions in the United States Bankruptcy Court for the District of Delaware for recognition of these CCAA proceedings in the United States pursuant to Chapter 15 of the Bankruptcy Code, thereby commencing the Applicants’ Chapter 15 cases.

On October 13, 2020, the Court issued an order (the “Claims Procedure Order”) approving the claims procedure (the “Claims Procedure”). The Claims Procedure Order provides for a Claims Bar Date (the date by which creditors must file completed proof of claim forms with the Monitor) of November 9, 2020. Copies of documents related to the Claims Procedure can be found below.

On November 18, 2020, the Court granted an order (the “Meeting Order”) which i) Accepted the filing with the Court of the plan of compromise, arrangement and reorganization of the Applicants (the “Plan”), and ii) authorized the Applicants to call, hold and conduct a meeting of Affected Creditors (the “Meeting”) to vote on the Plan, which will be held on December 11, 2020.

On December 18, 2020, the Court approved the Motion made by the Applicants pursuant to the CCAA for an order approving and sanctioning the plan of compromise, arrangement and reorganization of the Applicants pursuant to the CCAA dated November 18, 2020 (the “Plan”).

Following confirmation from the Company that all pre-conditions set out in Section 9.1 of the Plan had been satisfied or waived, the Company filed the Certificate of Amendment stating that i) each of the Plan Implementation Conditions has been satisfied or waived and that the Articles of Reorganization for each of Hematite Holdings and Hematite Industrial have been filed and have become effective as of the date set out in the applicable Certificate of Amendment and ii) the Effective Time on the Plan Implementation Date is December 24, 2020.

Monitor's Plan Implementation Certificate - 2020-12-24 [PDF 31 KB]

On September 28, 2023, the Monitor served on the service list in the CCAA Proceedings a certificate (the "Monitor's Discharge Certificate") certifying among other things that the Monitor has completed its duties in the CCAA Proceedings and as such, the CCAA Proceedings are terminated and KPMG Inc. is discharged from its duties as Monitor of the Applicants. A copy of the Monitor's Discharge Certificate can be found below.

Monitor's Discharge Certificate - 2023-09-28 [PDF 160 KB]

KPMG Contact:
hematitegroup@kpmg.ca
416-777-3978

Applications

Application record - CCAA application - 2020-09-18 [PDF 4 MB] - 2020-09-18

Motion materials

Motion record (Meeting order and Other relief) - 2020-11-11 [PDF 8.5 MB]

Factum (Claims procedure) - 2020-10-09 [PDF 477KB]

Motion record (Claims procedure order) - 2020-10-07 [PDF 5.8 MB]

Motion record (Comeback) - 2020-09-24 [PDF 5.5 MB]

Orders

Sanction Order (entered) - 2020-12-18 [PDF 7.6 MB]

Continuation of equipment payments order - 2020-11-18 [PDF 120 KB]