May 17, 2022
The Roman Catholic Episcopal Corporation of St. John's, the legal entity of the Archdiocese of St. John’s, Newfoundland, had its NOI proceedings continued under the CCAA on May 17. The limitations of the NOI proceedings, specifically the timeline limits for filing a proposal, made it necessary to initiate the CCAA proceedings to avoid disrupting, among other things, the sale process approved as part of the NOI proceedings, various other realization and recovery efforts, and the finalization of a settlement agreement with respect to the St. Kevin’s Parish Investment Funds. EY was appointed monitor. Counsel is McInnes Cooper for the Corporation; Gowlings and Budden & Associates as Representative Counsel for the Claimants, Stewart McKelvey for EY as monitor; and Cox & Palmer for the Government of Newfoundland and Labrador.
By Dina Milivojevic