Old BPSUSH Inc.

Case No. 16-12373


Case Background

On October 31, 2016, BPS US Holdings Inc. (n/k/a Old BPSUSH Inc.) and 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 District of Delaware.  The cases are pending before the Honorable Brendan L. Shannon, and are jointly administered under Case No. 16-12373.

On October 31, 2016, Performance Sports Group announced that it entered into an asset purchase agreement with a group of investors led by Sagard Capital Partners, L.P. and Fairfax Financial Holdings for the sale of the Company. In conjunction with this development, Performance Sports Group has filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the District of Delaware and commenced proceedings under the Companies' Creditors Arrangement Act (the “CCAA”) in the Ontario Superior Court of Justice.

The Company believes that pursuing a sale through a court supervised restructuring process represents the best path forward for the Company and its stakeholders.

Performance Sports Group expects to continue operating its business and serving customers as usual throughout the court-supervised process.

For further information regarding the CCAA Proceeding, please visit the CCAA Monitor’s website at www.ey.com/ca/psg.

Click below to view the Company’s press release:

Press Release

Important Information & Dates

Liquidation Trustee Status Reports:

Pursuant to section VI.A of the Plan, after the Effective Date, the Liquidation Trustee shall have the authority, after consultation with the Monitor, to file objections and to settle, compromise, withdraw or litigate to judgment objections to Claims as set forth in the Plan.  Additionally, section VI.G of the Plan provides that Theseus Strategy Group LLC, the liquidation trustee (the “Liquidation Trustee”) appointed pursuant to the Plan, shall file a progress report discussing its efforts to reconcile and liquidate U.S. Claims every 90 days after the Effective Date until all U.S. Claims have become Satisfied Claims, Allowed U.S. Claims or U.S. Claims disallowed by a Final Order.  Click the below link to access the Trustee's Status Reports: 

Liquidation Trustee Status Reports

Plan and Disclosure Statement:

On August 25, 2017, the Debtors filed their Plan of Liquidation and the Disclosure Statement related thereto.  On October 19, 2017, the Debtors filed their modified Plan of Liquidation and modified Disclosure Statement related thereto.  On October 19, 2017, the Bankruptcy Court entered an order approving the Disclosure Statement.  On December 20, 2017, the Bankruptcy Court entered an order confirming the Plan.  On December 21, 2017, the Effective Date of the Plan occurred, and the Plan was consummated. 

Plan & Disclosure Statement

Claim Filing Deadline:

The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors:

  • General Bar Date (all creditors other than Governmental Units): February 6, 2017 at 5:00 p.m. (prevailing Eastern Time)
  • Governmental Unit Bar Date: May 1, 2017 at 5:00 p.m. (prevailing Eastern Time)
  • Employee Bar Date: May 17, 2017 at 5:00 p.m. (prevailing Eastern Time)

Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim against the Debtors.

First Day Motions and Orders:

A hearing on the Debtors' First Day Motions was held on November 1, 2016 at 9:00 AM (ET) before the Honorable Kevin J. Carey, United States Bankruptcy Court for the District of Delaware, 824 North Market Street, 5th Floor, Courtroom No. 5, Wilmington, DE 19801. Please click below to view and download the Debtors' First Day Motions and First Day Orders:

First Day Motions

First Day Orders


Dates

December 21 2017 Effective Date ___________ Notice of Effe... Add to Calendar
February 5 2019 Omnibus Hearing 11:00 AM (ET) Order Scheduli... Add to Calendar
+ SHOW ALL DATES
October 31 2016 __
November 1 2016 9:00 AM(ET)
November 16 2016 9:30 AM (ET)
November 30 2016 9:00 AM (ET)
November 30 2016 3:00 PM (ET)
December 19 2016 1:30 PM (ET)
January 10 2017 10:00 AM (ET)
January 13 2017 11:00 AM (ET)
January 30 2017 10:00 AM (ET)
February 6 2017 10:00 AM (ET)
February 6 2017 10:00 AM (ET)
February 6 2017 5:00 PM (ET)
March 10 2017 2:30 PM (ET)
April 12 2017 11:00 AM (ET)
May 1 2017 5:00 PM (ET)
May 17 2017 5:00 PM (ET)
Employee Claims Bar Date Employee Bar Date Notice Add to Calendar
May 23 2017 1:00 PM (ET)
June 14 2017 1:00 PM (ET)
July 19 2017 10:00 AM (ET)
October 16 2017 10:00 AM (ET)
October 27 2017 10:00 AM (ET)
December 7 2017 10:00 AM (ET)
December 20 2017 10:00 AM (ET)
December 21 2017 __
March 1 2018 11:00 AM (ET)
May 3 2018 10:00 AM (ET)
May 23 2018 11:00 AM (ET)
June 20 2018 1:30 PM (ET)
July 17 2018 11:00 AM (ET)
January 9 2019 11:45 AM (ET)
February 5 2019 11:00 AM (ET)

Parties

Debtors' Counsel

  • Young Conaway Stargatt & Taylor, LLP

    Rodney Square
    1000 North King Street
    Wilmington, DE   19801
    http://www.youngconaway.com
    Phone: 302.571.6600
    Fax: 302.571.1253

    Pauline K. Morgan
    Sean T. Greecher
    Justin H. Rucki
    Shane M. Reil

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP

    1285 Avenue of the Americas
    New York, NY   10019
    https://www.paulweiss.com
    Phone: 212.373.3000
    Fax: 212.757.3990

    Alice B. Eaton
    Kelley A. Cornish

Debtors' Canadian Counsel

Debtors' Restructuring Advisors

United States Trustee and Court Information

Debtors

Case Number Debtor Name Petition Date
Case Number 16-12373 Debtor Name BPS US Holdings Inc. Petition Date October 31, 2016
Case Number 16-12374 Debtor Name Bauer Hockey, Inc. Petition Date October 31, 2016
Case Number 16-12375 Debtor Name Easton Baseball / Softball Inc. Petition Date October 31, 2016
Case Number 16-12376 Debtor Name Bauer Hockey Retail Inc. Petition Date October 31, 2016
Case Number 16-12377 Debtor Name Bauer Performance Sports Uniforms Inc. Petition Date October 31, 2016
Case Number 16-12378 Debtor Name Performance Lacrosse Group Inc. Petition Date October 31, 2016
Case Number 16-12379 Debtor Name BPS Diamond Sports Inc. Petition Date October 31, 2016
Case Number 16-12380 Debtor Name PSG Innovation Inc. Petition Date October 31, 2016
Case Number 16-12381 Debtor Name Performance Sports Group Ltd. Petition Date October 31, 2016
Case Number 16-12382 Debtor Name KBAU Holdings Canada, Inc. Petition Date October 31, 2016
Case Number 16-12383 Debtor Name Bauer Hockey Retail Corp. Petition Date October 31, 2016
Case Number 16-12384 Debtor Name Easton Baseball / Softball Corp. Petition Date October 31, 2016
Case Number 16-12385 Debtor Name PSG Innovation Corp. Petition Date October 31, 2016
Case Number 16-12386 Debtor Name Bauer Hockey Corp. Petition Date October 31, 2016
Case Number 16-12387 Debtor Name BPS Canada Intermediate Corp. Petition Date October 31, 2016
Case Number 16-12388 Debtor Name BPS Diamond Sports Corp. Petition Date October 31, 2016
Case Number 16-12389 Debtor Name Bauer Performance Sports Uniforms Corp. Petition Date October 31, 2016
Case Number 16-12390 Debtor Name Performance Lacrosse Group Corp. Petition Date October 31, 2016