Accuride Canada Inc.

CCAA

^{Page last updated: November 17, 2024}

This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.

Status of File as of November 15, 2024

On November 15, 2024, the Court issued the Second Amended and Restated Initial Order which, among other things:

1. Approved, nunc pro tunc, the Accommodation Agreement between the Company, Accuride Corporation and GM; and
2. Approved the GM Charge.

Status of File as of November 9, 2024

On November 9, 2024, the Monitor filed its Second Report (the “Second Report”) with the Court to provide the Court with the information on:

1. The activities of the Monitor and the Company since the First Report;
2. The Company’s actual cashflows from October 18, 2024 to November 1, 2024 compared the forecast;
3. The activities of Perella Weinberg Partners on the marketing process;
4. The Interim GM Agreement (as defined in the Second Report); and
5. The Monitor’s conclusions and recommendations with respect to the Company’s motion for the Second Amended and Restated Order.

On November 8, 2024, the Company filed its motion for an order (the “Second Amended and Restated Initial Order”) to, among other things:

1. Approve, nunc pro tunc, the accommodation agreement (the “Accommodation Agreement”) between the Company, Accuride Corporation and General Motors LLC (“GM”) and
2. Approve the GM Charge (defined in the motion)

The motion will be heard on November 15, 2024 at 8:30 am (Toronto Time). To join the hearing, please use the Zoom link below:

Zoom Link: https://ca01web.zoom.us/j/68763445471?pwd=c212MHFNenltVXZrS0NYTkZXWUdQQT09#success

Status of File as of October 17, 2024

On October 17, 2024, the Monitor filed its First Report (the “First Report”) with the Court to inform the Court on the:

1. Activities of the Company and the Monitor since the Filing Date;
2. Company’s cash flow forecast;
3. Monitor’s views on the Company’s motion for the Amended and Restated Initial Order (“ARIO”), which would, among other things:
   1. Extend the Stay Period to December 13, 2024;
   2. Approve the Intercompany Supply Agreement (as defined in the First Report); and
   3. Increase the amount of the Administration Charge, the Directors’ Charge and the Intercompany Charge.

The Comeback Hearing is scheduled on October 18, 2024 at 2 p.m. (EST). To join the Comeback Hearing please use the Zoom Link below:

Link: https://ca01web.zoom.us/j/68763445471?pwd=c212MHFNenltVXZrS0NYTkZXWUdQQT09%20%27
Meeting ID: 687 6344 5471
Passcode: 530196 

Status of File as of October 10, 2024

On October 10, 2024 (the “Filing Date”), Accuride Canada Inc. (the “Applicant” or the “Company”) applied for and received an order (the “Initial Order”) for protection pursuant to the Companies’ Creditors Arrangement Act R.S.C.1985, c.C-36, as amended (the “CCAA Proceeding”) from the Ontario Superior Court of Justice (Commercial List) (the “Court”).

The Initial Order, among other things:

1. Appointed PricewaterhouseCoopers Inc., LIT (”PwC”) as monitor of the Company (the “Monitor”);
2. Approved a stay of proceedings up to and including October 20, 2024 (“Stay Period”), which applies against the Company or the Monitor, or any of their respective employees and representatives, any of the former, current or future directors or officers of the Company and the Company’s Property and Business (as defined in the Initial Order); and
3. Approved the Administration Charge, Directors’ Charge and Intercompany Charge (each as defined in the Initial Order) against the Property of the Company.

The Initial Order and other related court filings are available at the links above.

The Court has scheduled a comeback hearing on October 18, 2024 (the “Comeback Hearing”). Further details regarding the Comeback Hearing will be posted on this website as they become available.

Any inquiries from customers, vendors, employees or other stakeholders regarding the CCAA Proceedings can be directed to the Monitor at ca_accuridecanada@pwc.com.