Claims Process/Creditors’ Meeting

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 the file as of January 2, 2018

On December 22, 2017, R. Litz filed an amended proposal (the “Amended Proposal”) with the Trustee, which revised the defined terms of the Proposal and added a clause regarding the payment of Pension Claims (as defined in the Amended Proposal) to be paid by R. Litz outside of the Amended Proposal. The Amended Proposal did not alter the amount available for distribution to unsecured creditors of R. Litz.

On December 22, 2017, a meeting of creditors was held to consider and vote on the approval of the Amended Proposal filed by R. Litz. The requisite majority of creditors required to approve the Amended Proposal, pursuant to the provisions of the BIA, was obtained and the Amended Proposal was accepted by R. Litz’s creditors. As a result, the Trustee will apply to court for a hearing of the application for an approval of the Amended Proposal by the Court.

On December 8, 2017, R. Litz & Sons Company Limited (“R.Litz” or the “Company”) filed a proposal dated December 8, 2017 (the “Proposal”) with PricewaterhouseCoopers Inc., LIT (“PwC” or the “Trustee”) pursuant to the provisions of the Bankruptcy and Insolvency Act (“BIA”).

A general meeting of the creditors (the “Creditors’ Meeting”) will be held at the Office of the Trustee at Richardson Building, 1 Lombard Place, Room 2324 (Red River) Winnipeg, Manitoba R3B 0X6 on the 22nd day of December, 2017 at 10:00 am (Central Standard Time), for the purpose of considering the Company’s Proposal.

The Notice of Proposal, the Proposal, the Trustee’s Report to Creditors on the Proposal, the Company’s Statement of Affairs (which includes a list of the creditors whose claims amount to $250 or more), a Proof of Claim Form, General Proxy and Voting Letter (the “Notice of Proposal”) were mailed by the Trustee on December 11, 2017 to all known creditors of the Company, pursuant to the provisions of the BIA.

To be eligible to participate in the Creditors’ Meeting, creditors must file a Proof of Claim form with the Trustee prior to the commencement of the Creditors’ Meeting and creditors who are not attending the Creditors’ Meeting in person and who are entitled to vote on the Proposal, or who wish to designate another party to attend the Creditors’ Meeting and vote on their behalf are required to date, sign and return the General Proxy form to the Trustee. In the case of a creditor which is a corporation, a General Proxy form designating the individual who is to attend the Meeting on behalf of the corporation, must be filed before the Creditors’ Meeting, in order for such a creditor to participate in the Creditors’ Meeting.

Creditors who have filed a Proof of Claim and who do not intend to attend the Creditor’ Meeting in person or by General Proxy may have their vote recorded by the Trustee, by completing and returning to the Trustee a Voting Letter.

The Proof of Claim form, General Proxy and Voting Letter intended to be used at the Meeting must be lodged with the Trustee prior to the commencement of the Creditors’ Meeting and should be forwarded to:

PricewaterhouseCoopers Inc., LIT
Licensed Insolvency Trustee of
R. Litz & Sons Company Limited
PwC Tower
18 York Street, Suite 2600
Toronto ON M5J 0B2
Attention: Tammy Muradova
Telephone: +1 416 863 1133
Facsimile: +1 416 814 3219
Email: cmt_processing@ca.pwc.com

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