On March 19, 2025, the Superior Court of Quebec (the "Court") issued an initial order under the Companies' Creditors Arrangement Act, R.S.C., 1985, c. C-36. (the "Initial Order") in respect of Pelican International Inc., Pelican US Topco LLC and Confluence Outdoor Inc. (the "Debtors"), appointing FTI Consulting Canada Inc., a licensed insolvency trustee, as monitor to the business ("FTI" or the "Monitor"). Pursuant to the Initial Order, the Court ordered a stay of all proceedings with respect to the Debtors, its property and its directors and officers.
On February 28, 2025, Pelican International Inc. ("the "Debtor") filed a notice of intention to make a proposal pursuant to Section 50.4 (1) of the Bankruptcy and Insolvency Act ("BIA") and KPMG Inc. has consented to act as Trustee.
