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 Kevin J. Carey, 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:
Important Information & Dates
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.
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.
Sale:
The Debtors will seek entry of an order approving the sale of the Acquired Assets to the Stalking Horse Bidder at a joint hearing was held on February 6, 2017 at 10:00 a.m. (ET) before (a) the Honorable Kevin J. Carey at the United States Bankruptcy Court for the District of Delaware, 824 North Market Street, Fifth Floor, Courtroom No. 5, Wilmington, Delaware 19801, and (b) the Honorable Mr. Justice Newbould of the Ontario Superior Court of Justice (Commercial List), 330 University Avenue, 8th Floor, Toronto, Ontario Canada M5G 1R8.
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:
Dates
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
Stikeman Elliott LLP
5300 Commerce Court West
199 Bay Street
Toronto, ON,
Canada
M5L 1B9
http://www.stikeman.com/cps/rde/xchg/se-en/hs.xsl/992.htm
Phone: 416.869.5500
Fax: 416.947.0866
Kathryn Esaw
Frank Selke
Maria Konyukhova
Debtors' Restructuring Advisors
Alvarez & Marsal
600 Madison Avenue
8th Floor
New York,
NY
10022
https://www.alvarezandmarsal.com/
Centerview Partners LLC
31 W. 52nd Street
New York,
NY
10019
http://www.centerviewpartners.com/
Marc Puntus
Ryan Kielty
United States Trustee and Court Information
Office of the United States Trustee
844 King Street, Suite 2207
Wilmington,
DE
19801
http://www.justice.gov/ust/r03/wilmington/index.htm
Phone: 302.573.6491
Fax: 302.573.6497
Mark S. Kenney
United States Bankruptcy Court
District of Delaware
824 Market Street North, 3rd Floor
Wilmington,
DE
19801
http://www.deb.uscourts.gov
Phone: 302.252.2900
Debtors
Case Number |
Debtor Name |
Petition Date |
|---|---|---|
| 16-12373 | BPS US Holdings Inc. | October 31, 2016 |
| 16-12374 | Bauer Hockey, Inc. | October 31, 2016 |
| 16-12375 | Easton Baseball / Softball Inc. | October 31, 2016 |
| 16-12376 | Bauer Hockey Retail Inc. | October 31, 2016 |
| 16-12377 | Bauer Performance Sports Uniforms Inc. | October 31, 2016 |
| 16-12378 | Performance Lacrosse Group Inc. | October 31, 2016 |
| 16-12379 | BPS Diamond Sports Inc. | October 31, 2016 |
| 16-12380 | PSG Innovation Inc. | October 31, 2016 |
| 16-12381 | Performance Sports Group Ltd. | October 31, 2016 |
| 16-12382 | KBAU Holdings Canada, Inc. | October 31, 2016 |
| 16-12383 | Bauer Hockey Retail Corp. | October 31, 2016 |
| 16-12384 | Easton Baseball / Softball Corp. | October 31, 2016 |
| 16-12385 | PSG Innovation Corp. | October 31, 2016 |
| 16-12386 | Bauer Hockey Corp. | October 31, 2016 |
| 16-12387 | BPS Canada Intermediate Corp. | October 31, 2016 |
| 16-12388 | BPS Diamond Sports Corp. | October 31, 2016 |
| 16-12389 | Bauer Performance Sports Uniforms Corp. | October 31, 2016 |
| 16-12390 | Performance Lacrosse Group Corp. | October 31, 2016 |