MAV Beauty Brands Inc.'s restructuring proceedings
Goodmans LLP acts for Alvarez & Marsal Canada Inc. in respect of MAV Beauty Brands Inc., a publicly traded global hair care and personal care company focused on managing a diversified portfolio of independent brands, in connection with the company’s restructuring proceedings.
On November 14, 2023, the MAV Group sought and obtained an Initial Order under the Companies’ Creditors Arrangement Act appointing A&M as monitor of the company and granting creditor protection to the company in order to facilitate a restructuring through a going-concern sale of substantially all of the assets of the company. In connection with the CCAA proceedings, the company entered into an asset purchase agreement with an affiliate of Nexus Capital Management LP, a Los Angeles-based private equity firm, pursuant to which Nexus agreed to acquire substantially all of the assets and business of the company. On November 24, 2023, the MAV Group obtained court approval of the transaction.
Concurrently with the commencement of the CCAA proceedings, the company obtained an aggregate of US$3.9 million in debtor-in-possession financing from certain of the company’s existing senior secured lenders to provide working capital for the company’s operations and to fund the CCAA proceedings and the implementation of the transaction.
Goodmans continues to act as counsel to the Monitor while the monitor assists the company with post-closing matters and the winding up of the CCAA proceedings.
Expertise
Featured Work
-
Restructuring
Endo International plc completes global restructuring
Goodmans LLP acted as Canadian legal counsel to the Endo Group (or the “Company”) in connection with its restructuring initiatives, transaction matters, negotiated resolutions with Canadian… -
Restructuring
Xplore completes CBCA recapitalization and restructures satellite business through RVO
Goodmans LLP acted as Canadian legal counsel to Xplore Inc. in connection with its recapitalization, restructuring, financing, regulatory, governance and business initiatives, including its review of… -
Restructuring
Tacora Resources Inc.’s CCAA restructuring
Goodmans LLP acted as counsel to Cargill, Incorporated and Cargill International Trading Pte Ltd. (collectively “Cargill”), in connection with the restructuring proceedings of Tacora Resources Inc… -
Restructuring
WeWork’s restructuring proceedings
Goodmans LLP acted as Canadian legal counsel to WeWork Inc. in connection with its restructuring initiatives, the Canadian Part IV CCAA proceedings, and issues affecting Canadian stakeholders… -
Restructuring
Comark Group’s restructuring proceedings
Goodmans LLP is counsel for Alvarez & Marsal Canada Inc. in its capacity as court-appointed monitor in the recognition proceedings of Comark Group under the Companies’ Creditors Arrangement Act… -
Restructuring
Contract Pharmaceuticals CCAA proceedings and sale to Aterian Investment Partners
Goodmans LLP acted as counsel to Contract Pharmaceuticals Limited and its affiliates in connection with their CCAA proceedings and other restructuring…