Item 8.01 Other Events.
On December 5, 2017, Old PSG Wind-down Ltd. (formerly known as Performance Sports Group Ltd.) (the “Company”) issued a press release announcing that it has filed a plan supplement (the “Plan Supplement”) to the first amended joint Chapter 11 plan of liquidation (together with the Plan Supplement, the “Plan”) for the Company and its affiliated debtors (collectively, the “Debtors”) in their jointly administered Chapter 11 cases pending in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The Plan Supplement contains certain documents relevant to the implementation of the Plan and the transactions contemplated by the Plan.
If the Plan is accepted by the necessary number and amount of the Debtors’ stakeholders entitled to vote, the Debtors will seek confirmation of the Plan by the Bankruptcy Court and a companion distribution and approval order (the “CCAA Approval Order”) from the Ontario Superior Court of Justice (Commercial List) (the “Canadian Court”), under the Companies’ Creditors Arrangement Act, to effectuate the Plan in the United States and Canada, respectively. A joint hearing before the Bankruptcy Court and the Canadian Court to confirm the Plan and obtain the CCAA Approval Order is currently scheduled to be heard on December 20, 2017.
The Plan, including the Plan Supplement and related materials, is available on https://cases.primeclerk.com/PSG and www.ey.com/ca/psg.
A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.