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