FTI Consulting Canada, in its capacity as court-appointed monitor (in such capacity, the "Monitor") of Chesswood Group Limited, Case Funding Inc., Chesswood Holdings Ltd., Chesswood US Acquisitionco Ltd., Pawnee Leasing Corporation, Lease-Win Limited, Windset Capital Corporation, Tandem Finance, Inc., Chesswood Capital Management Inc., Chesswood Capital Management USA Inc., Rifco National Auto Finance Corporation, Rifco Inc., Waypoint Investment Partners Inc. and 1000390232 Ontario Inc. (collectively, the "CCAA Parties") pursuant to the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA"), is conducting a sale and investment solicitation process (the "SISP") in respect of certain of the CCAA Parties. The SISP is intended to solicit interest in, and opportunities for: (i) one or more sales or partial sales of all, substantially all, or certain portions of their assets or business operations; and/or (ii) an investment in, restructuring, recapitalization, refinancing or other form of reorganization of the applicable CCAA Parties or their business operations, or any combination thereof.
On October 29, 2024, the Ontario Superior Court of Justice (Commercial List) (the "Court") issued an Initial Order pursuant to the CCAA in respect of the CCAA Parties (the "Initial Order", and the proceedings under the CCAA commenced thereby, the "CCAA Proceedings"), which was thereafter amended and restated. The CCAA Proceedings have been recognized as foreign main proceedings pursuant to a final order of the U.S. Bankruptcy Court for the district of Delaware (the "U.S. Court") under Chapter 15 of Title 11 of the United States Code (such proceedings before the U.S. Court, the "Chapter 15 Proceedings").
The SISP and related bidding procedures were approved by the Court pursuant to a SISP Approval Order dated December 19, 2024, made in the CCAA Proceedings (the "SISP Approval Order"). The SISP and related bidding procedures set forth the manner in which interested parties may be provided with an opportunity to participate in the SISP and submit offers, including receipt of a process summary describing the opportunity and access to a virtual data-room following execution of a non-disclosure agreement ("NDA") acceptable to the Monitor. All interested parties are encouraged to submit offers based on any form of opportunity that they may elect to advance pursuant to the SISP.
Interested parties who wish to submit a bid in the SISP must deliver an executed NDA in accordance with the SISP. Final binding offers are due by no later than 5:00 pm (prevailing Eastern Time) on January 20, 2025, unless extended in accordance with the terms of the SISP. Interested parties should refer to the SISP for information pertaining to other important deadlines and processes thereunder.
Copies of the Initial Order, the amended and restated Initial Order, the SISP Approval Order, the SISP, and related materials may be obtained from the website of the Monitor at: http://cfcanada.fticonsulting.com/Chesswood/.