KEIP-ing the Right People for the Job: Ontario Superior Court Outlined the Factors it Will Take into Consideration when Approving Key Employee Retention Plans and Key Employee Incentive Plans

Aralez Pharmaceuticals Inc. ("AP Inc.") and Aralez Pharmaceuticals Canada Inc. ("APC Inc.") (collectively, the "Applicants") brought an application to the Ontario Superior Court under the CCAA concurrently with a United States Chapter 11 proceeding brought by affiliated entities. the Applicants. desired a managed liquidation process.

The Applicants entered into three stalking horse agreements for approximately $240 million. This compared to the secured claim of $275 million of the major secured creditors of the Applicants.

Filed under:
Canada, USA, Ontario, Employment & Labor, Insolvency & Restructuring, Litigation, Borden Ladner Gervais LLP, Ontario Superior Court of Justice
Authors:
Scott Pollock
Location:
Canada, USA
Firm:
Borden Ladner Gervais LLP