G.I. Sportz Inc. is the largest North American manufacturer and distributor of paintballs, markers and related accessories. The company employs approximately 400 individuals in Canada and the US.
We were appointed by the Quebec Court as Receiver of the Company and its US subsidiaries. As foreign representative, we brought a motion in the Delaware Court to have the receivership proceedings recognized as foreign main proceedings under Chapter 15 of the US Code. A going-concern transaction was approved by the Quebec Court and the US Court. The transaction resulted in the assumption of substantially all secured and trade debt and preserved employment for over 300 employees.