Lydian International Limited – in liquidation announced that the Company’s previously announced protection under the Companies’ Creditors Arrangement Act (the “CCAA”) has been extended until the earlier of (i) the filing of the Monitor’s CCAA Termination Certificate (as defined in the Plan Sanction and Implementation Order of Chief Justice Morawetz dated June 29, 2020), and (ii) March 31, 2021, in order to facilitate the completion of the Company’s previously announced winding up pursuant to Article 155 of the Companies (Jersey) Law 1991 on a just and equitable basis (the “Just and Equitable Wind-Up”). While under CCAA protection, creditors and others are stayed from enforcing any rights against the Company. The Just and Equitable Wind-Up is one of the final steps of the Company’s plan of arrangement with its secured creditors under the CCAA that was approved by the Ontario Superior Court of Justice (Commercial List) and became effective as of July 6, 2020.
All inquiries regarding the CCAA proceedings should be directed to the court-appointed monitor, Alvarez & Marsal Canada Inc. (email: lydian@alvarezandmarsal.com or telephone: +1 416-847-5158). Information about the Company’s CCAA proceedings, including all court orders made and the monitor’s reports, are available on the monitor’s website, at: http://www.alvarezandmarsal.com/Lydian.
All inquiries regarding the Just and Equitable Wind-Up should be directed either to the court-appointed monitor (see contact details above) or to the joint liquidators of the Company in connection with the Just and Equitable Wind-Up (email: abrancato@deloitte.co.uk). Information about the Company’s Just and Equitable Wind-Up proceedings, including all court orders made, are available on the monitor’s website, at: http://www.alvarezandmarsal.com/Lydian.