On June 22, 2017, Sears Canada Inc. and several related parties were granted protection from their creditors under the Companies’ Creditors Arrangement Act (“CCAA”), pursuant to an Order of the Honourable Justice Hainey of the Ontario Superior Court of Justice.
Koskie Minsky LLP has been appointed as Representative Counsel to all non-unionized retirees, active employees, and former employees of Sears Canada in the CCAA proceedings, with respect to:
a) pension benefit entitlements under the Sears Canada Inc. Registered Retirement Plan, and any other pension or retirement plan of Sears Canada; and
b) retiree medical benefits, dental benefits, life insurance benefits, and supplemental pension benefits (for certain retirees)
(collectively, the “Represented Parties”).
Three retirees Ken Eady, Larry Moore, and Bill Turner (the “Representatives”) were also appointed to represent the overall best interests of the Represented Parties.
The court issued the Representation Order on July 13, 2017. Under paragraph 6 of that Order, any individual affected by these appointments who do not wish to be represented by the Representatives and Representative Counsel must complete the Opt-Out Notice before September 8, 2017.
The firm of FTI Consulting Canada Inc. was appointed as the Monitor in the CCAA proceedings. To view court documents, orders and other publicly available information with respect to the CCAA proceedings, please visit the website of the Monitor by clicking here.
If you are a retiree of Sears Canada, with questions about the proceeding, please email us at email@example.com or call us at 1 800 244 7120.