HB Solar Canada Inc.

HB Solar Canada Inc. (“HB”) is a supplier of photovoltaic/solar energy array mounting systems and related equipment.  On April 9, 2018, HB filed a Notice of Intention to Make a Proposal to its creditors pursuant to subsection 50.4 (1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the “BIA”) and Dodick Landau Inc. was named Proposal Trustee.  Pursuant to the provisions of subsection 69 (1) of the BIA a stay of proceedings (the “Stay”) has been initiated and all proceedings against HB are stayed as of the date of filing of the NOI.  On May 10, 2018, the Ontario Superior Court of Justice (the “Court”) extended the Stay to June 22, 2018. On May 14, 2018, the Court approved enhanced powers be granted to the Proposal Trustee to, among other things, carry-out a Sale and Investment Solicitation Process.  On July 9, 2018, HB filed a Proposal to its creditors and on July 13, 2018 the Proposal Trustee mailed to all known creditors a copy of the Proposal and other related documents.  A meeting of creditors to consider the Proposal was held at the office of the Proposal Trustee on July 25, 2018 at 2:00 p.m.  At the meeting of creditors the creditors approved the Proposal.  On August 13, 2018, HB attended in Court to request the Court’s approval of the sale transaction and the Proposal, among other things, which the Court approved.  The transaction closed on August 21, 2018. The first interim dividend distribution was mailed to creditors by September 10, 2019.