CannTrust Holdings

CannTrust Holdings Inc., a Canadian licensed cannabis producer, with a portfolio of brands including estora, Liiv, Synr.g and XSCAPE, announced on Thursday that its Fourth Amended & Restated Plan of Compromise, Arrangement and Reorganization plan (CCAA) dated July 7, 2021, has been implemented. “The Company has contributed $50 million to a trust established to facilitate the class action settlements in full satisfaction of the actions against it and $2.7 million in trust for settlement of various claims under its CCAA proceedings,” announced the firm in a press release. » Mehr auf benzinga.com

CannTrust Holdings Inc. said Thursday it's developing an "orderly wind-down plan" to maximize the value of its assets, because the company does not have sufficient liquidity to operate beyond the near term. The wind-down plan would be used if a financing or strategic transaction option cannot be finalized by the Canadian cannabis producer. » Mehr auf marketwatch.com

VAUGHAN, ON, July 16, 2021 /PRNewswire/ - CannTrust Holdings Inc. ("CannTrust" or the "Company") (unlisted) announced today that its Fourth Amended & Restated Plan of Compromise, Arrangement and Reorganization dated July 7, 2021 (the "CCAA Plan") was sanctioned by the Ontario Superior Court of Justice (the "Court") in connection with the Company's restructuring proceedings under the Companies' Creditors Arrangement Act (the "CCAA"). Implementation of the CCAA Plan remains subject to a number of conditions, including the U.S. Approval Order being entered in the U.S. Class Action and the expiration of applicable appeal periods. » Mehr auf prnewswire.com