Just Energy Group, a retail energy provider specializing in electricity and natural gas commodities and energy efficient solutions, carbon offsets and renewable energy options, reported the Ontario Superior Court of Justice approved the extension of the stay period under the Companies’ Creditors Arrangement Act to Feb. 17, 2022, and an amendment to the CCAA interim debtor-in-possession financing term sheet between the company and its DIP lenders to, among other things, extend the maturity of the DIP facility to Sept. 30, 2022.
The stay extension and DIP maturity extension allow the company to continue to operate in the ordinary course of business while pursuing a restructuring plan with its stakeholders.
In addition, the court approved Just Energy’s entrance into a support agreement with an affiliate of Generac Holdings to vote in favor of the acquisition of Just Energy’s shares of Ecobee by Generac.
FTI Consulting Canada is overseeing Just Energy’s CCAA proceedings as the court-appointed monitor.
