On March 19, 2017, SquareTwo Financial Services Corporation and seventeen (17) affiliated debtors (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York (the "Chapter 11 Proceedings"). The cases are pending before the Honorable James L. Garrity, Jr., and the Debtors have requested joint administration of the cases under Case No. 17-10659.
On the March 22, 2017, SquareTwo Financial Corporation, as the Debtors' foreign representative, filed an application for the commencement of recognition proceedings (the “Canadian Proceedings”) in the Ontario Superior Court of Justice (Commercial List) under Part IV of the Companies’ Creditors Arrangement Act (the “CCAA”) to recognize the Chapter 11 Proceedings. Information about the Canadian Proceedings is below.
Important Information & Dates
Hearing on First Day Motions
A hearing on the Debtors' First Day Motions was held on March 21, 2017 at 3:00 p.m. (ET) before the Honorable James L. Garrity, Jr., United States Bankruptcy Court for the Southern District of New York, One Bowling Green, Room 601, New York, NY 10004. A final hearing on certain of the First Day Motions was held on April 13, 2017 at 2:00 p.m. (ET).
Please click below to view and download the Debtors' First Day Motions and the First Day Orders:
Hearing on Adequacy of the Disclosure Statement and Confirmation of the Plan
The Combined Hearing to consider, among other things, the adequacy of the Disclosure Statement and confirmation of the Plan was held on June 2, 2017.
Please click below to view and download the Debtors' proposed Plan and proposed Disclosure Statement for the Plan:
A summary of the Plan is available here.
On June 15, 2017, the Effective Date occurred with respect to the Plan.
Plan Effective Date
Priority Tax Claims Bar ...
First Day Hearing
Final Hearing on Certain First Day Motions and Orders
Combined Disclosure Statement and Confirmation Hearing
Plan Effective Date
Administrative Expense Claims Bar Date
Priority Tax Claims Bar Date
On March 22, 2017, SquareTwo Financial Corporation, as the Foreign Representative, applied to the Ontario Superior Court of Justice (Commercial List) under Part IV of the CCAA for an Order granting, among other things, the recognition of SquareTwo Financial Corporation as the foreign representative of the Debtors, declaring that the centre of main interest for each of the Debtors is in the United States and that the Chapter 11 Proceedings are a "foreign main proceeding" under sections 47 and 48 of the CCAA, and granting a stay of proceedings in respect of the Debtors.
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019-6099
Matthew A. FeldmanPaul V. Shalhoub
Debra C. McElligott
Thornton Grout Finnigan LLP
Suite 3200, 100 Wellington Street West
Toronto, ON M5K 1K7 Canada
Debtors' Restructuring Advisors
909 Third Avenue
New York, NY 10022
United States Trustee and Court Information
Office of the United States Trustee
U.S. Federal Office Building
201 Varick Street, Suite 1006
New York, NY 10014
Richard C. Morrissey
United States Bankruptcy Court
Southern District of New York
One Bowling Green
New York, NY 10004-1408
|17-10659||SquareTwo Financial Services Corporation||March 19, 2017|
|17-10661||Astrum Financial, LLC||March 19, 2017|
|17-10662||Autus, LLC||March 19, 2017|
|17-10665||CA Internet Marketing, LLC||March 19, 2017|
|17-10663||CACH, LLC||March 19, 2017|
|17-10664||CACV of Colorado, LLC||March 19, 2017|
|17-10660||CACV of New Jersey, LLC||March 19, 2017|
|17-10666||Candeo, LLC||March 19, 2017|
|17-10672||CCL Financial Inc.||March 19, 2017|
|17-10667||Collect Air, LLC||March 19, 2017|
|17-10668||Collect America of Canada, LLC||March 19, 2017|
|17-10669||Healthcare Funding Solutions, LLC||March 19, 2017|
|17-10674||Metropolitan Legal Administration Services, Inc.||March 19, 2017|
|17-10670||Orsa, LLC||March 19, 2017|
|17-10673||Preferred Credit Resources Limited||March 19, 2017|
|17-10675||ReFinance America, Ltd.||March 19, 2017|
|17-10671||SquareTwo Financial Canada Corporation||March 19, 2017|
|17-10676||SquareTwo Financial Corporation||March 19, 2017|