Mountain Equipment Co-operative
On September 14, 2020, Mountain Equipment Co-operative and 1314625 Ontario Limited (collectively, “MEC”), were granted an initial order (the “Initial Order”) to commence proceedings (the “CCAA Proceedings”) under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended. Pursuant to the Initial Order, Alvarez & Marsal Canada Inc. was appointed as monitor (the “Monitor”) in the CCAA Proceedings.
The Initial Order grants a stay of proceedings (the ”Stay Period”) until and including September 24, 2020. During the Stay Period no action, suit or proceedings in any court or tribunal against or in respect of MEC or the Monitor, or affecting the business or property of MEC, shall be commenced or continued.
MEC has prepared an FAQ which can be found here.