On March 26, 2015, Comark Inc. commenced court-supervised restructuring proceedings under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”).
On the same day, the Ontario Superior Court of Justice (the “Court”) granted an order (the “Initial Order”), which, among other things, provides for a stay of proceedings (the “Stay Period”). The Stay Period may be extended by the Court from time to time.
Also pursuant to the Initial Order, Alvarez & Marsal Canada Inc. was appointed as monitor (the “Monitor”) of the business and financial affairs of Comark Inc.