Country Fresh Takes Additional Steps to Reorganize in Advance of Proposed Sale
02/17/2021 | 06:38pm EDT
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Country FreshтАЭ or the тАЬ
CompanyтАЭ) announced today that its Canadian subsidiaries, Sun Rich Fresh Foods Inc., Tiffany Gate Foods Inc. and TGF Acquisition Parent Ltd. have filed for protection under the
CompaniesтАЩ Creditors Arrangement Act (Canada) (тАЬ
CCAAтАЭ) pursuant to an Order (the тАЬ
Initial OrderтАЭ) of the Ontario Superior Court of Justice (Commercial List) (the тАЬ
Canadian CourtтАЭ).
The CCAA filing follows an earlier filing by the CompanyтАЩs U.S. affiliates under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. The U.S. and Canadian proceedings will operate as parallel main proceedings, with the common goal of facilitating a Court-supervised solicitation and sales process in respect of the assets of the Company (the тАЬ