Laboratoires Bodycad inc.

Laboratoires Bodycad inc., a Québec City, Québec-based orthopaedic company specialized in the design and manufacturing of revolutionary and personalized products based on the anatomical specifications of a patient using the company’s proprietary Personalized Restoration™ software, obtained CCAA protection on December 22. Raymond Chabot was appointed monitor. Norton Rose Fulbright is counsel for Santé BB inc. (the DIP lender), Fasken is counsel for the company and Stein Monast is counsel for IQ. By Dina Milivojevic

9379-8676 Québec Inc. o/a Wilsons Leasing

9379-8676 Québec Inc. o/a Wilsons Leasing, which operates as a buyer and seller of luxury and exotic vehicles, was placed in receivership on December 21, on application by Cole Diamond Family Trust 2018 and Kinetic Café Inc., collectively owed $4 million in loans. The loans were due on October 15, 2022. One day before the due date, the company claimed to have made a wire transfer of $1.7 million to the lenders on account of the loans, but the funds never arrived and the originating bank had no record of the wire transfer. The company has not made any repayment on account of the loans. KSV was appointed receiver. Goodmans is counsel for the applicants and Bennett Jones is counsel for the receiver. By Dina Milivojevic

Galarneau Entrepreneur Général Inc.

Galarneau Entrepreneur Général Inc. and various related entities (collectively, the "Galarneau Group"), a Rouyn-Noranda, Québec-based group of companies offering drilling and blasting, crushing, paving, civil engineering, transportation and snow removal services to clients working in the mining, municipal and industrial fields, each filed an NOI on December 9. The Galarneau Group employs between 150 and 300 employees at any given time to meet customer demand. In the current and previous fiscal years, Galarneau Entrepreneur Général Inc. suffered an operating loss of more than $19 million, due primarily to the completion of 5 loss-making projects, as well as the effects of the COVID-19 pandemic. Galarneau Entrepreneur Général Inc., which has more liabilities than any of the other entities within the Galarneau Group, lists approximately $48.1 million in liabilities, including approximately $12.9 million to Caisse Desjardins. On December 29, the Québec Court issued a reverse vesting order approving a transaction between the Galarneau Group and 9422-8806 Québec inc. (a related party to Duroking Construction). MNP is the proposal trustee. Stikeman Elliott is counsel for the companies, Miller Thomson is counsel for the purchaser, Davies is counsel for secured creditor Caisse Desjardins de Rouyn-Noranda, McCarthy Tétrault is counsel for unsecured creditor Desjardins Capital de Risques and Morency is counsel for supplier Équipements Morri 7 Inc. By Dina Milivojevic

Groupe Sélection Inc. et al.

Groupe Sélection Inc. et al., one of the largest owner/operators of senior living residences in Canada, obtained CCAA protection on November 21. The company sought to have FTI appointed as monitor. The company's lenders (National Bank, CIBC, Desjardins, TD, BMO, HSBC, Briva Finance and Fiera), who are collectively owed over $270 million, immediately filed a competing CCAA application, arguing that they were blindsided by the company's approach and that it was acting in bad faith. According to the lenders, the company is cash flow negative and has operated in a manner that is financially untenable. The lenders submit that the company is currently burning millions of dollars per month while refusing to reduce its expenses, and that their collateral is deteriorating in value. The lenders also argue that the company's principal is exerting undue influence over the company by preventing the implementation of restructuring measures and, among other things, has used the company's liquidity to fund a lavish lifestyle and for unnecessary expenses such as the use of a private jet. Judge Michel A. Pinsonnault ruled on Monday in favour of the lenders and PwC was appointed CCAA monitor. The company, however, has sought permission to appeal. Counsel is Stikeman Elliott for the company, Norton Rose Fulbright for National Bank representing the banking syndicate, McCarthy Tétrault for FTI, Fasken Martineau for PwC, Davies for Desjardins, Fishman Flanz for BMO and Gowling WLG for Briva Finance and Fiera. By Dina Milivojevic

VOTI Detection Inc. (TSXV:VOTI) and VOTI Inc.

VOTI Detection Inc. (TSXV:VOTI) and VOTI Inc., a Saint-Laurent, Quebec developer of next generation x-ray security systems, each filed an NOI on October 12. VOTI Detection lists $3.4 million in liabilities to Espresso Capital Limited., while VOTI lists $10.5 million in liabilities, including approximately $477,000 to Spellman High Voltage. PwC is the proposal trustee. By Dina Milivojevic

Xebec Adsorption Inc. and various subsidiaries (collectively, the “Xebec Group”)

Xebec Adsorption Inc. and various subsidiaries (collectively, the "Xebec Group"), a Montréal, Québec-based global provider of sustainable gas solutions used in energy, mobility and industry applications, obtained CCAA protection on September 29. The Xebec Group has incurred material operating losses since 2020. Its financial difficulties were attributable to a number of factors, including its inability to raise additional capital given the state of capital markets, supply chain constraints, impact of the COVID-19 pandemic, the geopolitical factors and increasing selling, general and administrative expenses resulting from the number of acquisitions completed over the last two years and the completion costs of legacy renewable natural gas contracts and the costs associated with discontinuing such product line. As part of the initial order, the Court declared Montreal, Quebec to be the Xebec Group's COMI for the purpose of recognition proceedings under Chapter 15 of the US Bankruptcy Code. Deloitte was appointed Monitor. Counsel is Osler for the Xebec Group, McCarthy's for the Monitor, BLG for National Bank and Norton Rose for EDC. By Dina Milivojevic

Endoceutics Inc. and certain of its affiliates (collectively, the “Endo Group”)

Endoceutics Inc. and certain of its affiliates (collectively, the "Endo Group"), a Montréal, Québec-based private pharmaceutical business operating in the fields of women’s health and hormone-sensitive cancer prevention and treatment, obtained CCAA protection on September 28. Despite the Endo Group's significant progress over the years, it has encountered financial difficulties requiring the implementation of a restructuring process, with a view to continuing to develop, produce and market products, including its flagship product Intrarosa. EY was appointed Monitor, and PwC has been engaged as financial advisor to CRG Servicing LLC, the senior secured lender. Counsel is McCarthy's for the Endo Group, Stikeman Elliott for the Monitor and Osler for CRG. By Dina Milivojevic

Paladin Labs Canadian Holding Inc. and Paladin Labs Inc.

Paladin Labs Canadian Holding Inc. and Paladin Labs Inc., Canadian debtors which are part of a global specialty pharmaceutical group (collectively, "Endo"), obtained recognition of Endo's Chapter 11 proceedings under Part IV of the CCAA on August 19. Endo’s recent financial performance has deteriorated significantly, largely due to a 55% year-over-year decline in the first half of 2022 from sales of Vasostrict, a branded pharmaceutical that has been one of the company’s leading revenue generators over the last several years. Endo’s highly leveraged capital structure – which consists of funded debt obligations in the aggregate principal amount of approximately US$8.15 billion, which are guaranteed by the Canadian debtors – has become unsustainable as a result of the company’s declining financial performance. The company is also under significant financial pressure due to onerous litigation expenses incurred from defending more than 3,500 lawsuits in a number of jurisdictions, including the US and Canada, largely relating to the marketing and sale of prescription opioids. KSV was appointed as information officer. Canadian counsel is Goodmans for the companies, Bennett Jones for the information officer, Stikeman Elliott for the Ad Hoc First Lien Group, Davies for McKesson Canada Corporation and Osler for Sanis Health Inc., Shoppers Drug Mart Inc. and Loblaw Companies Limited. By Dina Milivojevic

Relance D.P inc. and 9298-9524 Quebec inc.

Relance D.P inc. and 9298-9524 Quebec inc., Trois-Rivières, Québec-based real estate companies, obtained CCAA protection on August 17. The business of the companies is to invest in distressed construction projects (typically condominiums) so that the projects can be completed and the units sold. The companies are subject to various litigation claims in relation to the projects, and intend to seek a global resolution of these claims under a CCAA plan. Mallette was appointed monitor. Counsel is Daigle & Matte for the companies. By Dina Milivojevic

Effenco Development Inc.

Effenco Development Inc., a Montréal, Québec-based autotech company, filed an assignment in bankruptcy on April 6, listing assets of approximately $6.6 million and liabilities of approximately $17.5 million, including approximately $3.3 million to Banque de développement du Canada (Québec), approximately $2.4 million to Investissement Québec and approximately $1.1 million to BMO Financial Group. The company's key technology is an electric hybrid Active Stop-Start system that improves energy efficiency on heavy trucks as well as reduce their greenhouse gas emissions by 30%. The company's management attributes its financial difficulties to significant development costs, operational difficulties and insufficient sales, which led to a liquidity problem. Ultimately, management was unable to secure the necessary funding to continue the company's operations. MNP is the bankruptcy trustee. By Dina Milivojevic