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Curo Canada Corp. and LendDirect Corp.
On March 25, 2024 (the "Petition Date"), CURO Group Holdings Corp. ("CURO") and certain of its affiliates (collectively, the "Debtors"), including CURO Canada Corp. and LendDirect Corp. (together, the "Canadian Debtors") commenced proceedings in the United States Bankruptcy Court for the Southern District of Texas (the "U.S. Court") by filing voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the "Chapter 11 Cases").
In its capacity as the foreign representative of the Debtors in the Chapter 11 Cases (the "Foreign Representative"), CURO sought and, on March 25, 2024, obtained an order (the "Initial Recognition Order") under Part IV of the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA") from the Ontario Superior Court of Justice (Commercial List) (the "Canadian Court"). Among other things, the Initial Recognition Order granted an interim stay of proceedings in favour of the Canadian Debtors and each of their respective property, business and directors and officers.
On March 26, 2024, the Canadian Court issued the Supplemental Recognition Order (together with the Initial Recognition Order, the "Recognition Orders") and, among other things:
ii. granted a stay of proceedings against the Canadian Debtors;
iii. recognized certain orders granted by the U.S. Bankruptcy Court in the Chapter 11 Cases; and
iv. appointed FTI Consulting Canada Inc. as the Information Officer with respect to the CCAA Recognition Proceedings (in such capacity, the "Information Officer").
Subsequent to the Recognition Orders issued on March 25 and March 26, the Canadian Court issued the following additional orders:
2. Recognition Order dated April 24, 2024, which recognized: i) the Final Securitization Order; ii) the Securitization Amendment Order; and iii) the Final Critical Vendor Order issued by U.S. Bankruptcy Court in the Chapter 11 Cases.
All materials filed in the U.S. Proceedings, including the First Day Orders as they are signed and uploaded, are available on the website of the U.S. Debtors' Claims and Noticing Agent, Epiq Corporate Restructuring, LLC, at Curo Group Chapter 11 Docket.
For additional information, please contact the Information Officer using the contact information below:
Email: [email protected]
Tel: 416.649.8085
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