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Client Work

Lear Canada and its subsidiaries successfully emerges from bankruptcy protection

Fasken
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Overview

Client

RSM Richter Inc.

On November 9, 2009, automobile seat manufacturer Lear Corp. and its subsidiaries ("Lear") successfully emerged from bankruptcy protection. On July 7, 2009, Lear filed for Chapter 11 protection in the United States and immediately thereafter Lear Canada filed recognition proceedings before the Ontario Superior Court of Justice (the "Ontario Court") under section 18.6 of the CCAA. Accounting firm RSM Richter Inc. was appointed by the Ontario Court as CCAA Information Officer. Ultimately the ordinary creditors of Lear Canada were left unimpaired by the Lear Chapter Plan, and on November 6, 2009 the Ontario Court issued an order recognizing the U.S. Bankruptcy Court's Chapter 11 Plan Confirmation Order. Edmond Lamek and Aubrey Kauffman of Fasken Martineau advised RSM Richter Inc. in this matter.

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