On March 9, 2021, Just Energy Group Inc. and 47 of its affiliates (collectively, the "Debtors”) commenced a proceeding (the “Canadian Proceeding”) in the Ontario Superior Court of Justice (Commercial Division) (the “Canadian Court”) under the Companies’ Creditors Arrangement Act (the “CCAA”) to restructure the Debtors’ finances while continuing normal operations under the protections offered by the CCAA. The Canadian Court appointed FTI Consulting, Inc. ("FTI") to serve as the Monitor in the Canadian Proceeding and authorized Just Energy Group Inc. to commence chapter 15 proceedings in the United States.

On March 9, 2021, Just Energy Group Inc., as authorized foreign representative, filed a voluntary petition for each of the Debtors under chapter 15 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”). The chapter 15 cases are ancillary proceedings to the Canadian Proceeding, through which the Debtors have asked the Bankruptcy Court to recognize the Canadian Proceeding as the Debtors’ foreign main proceedings and enforce in the United States the relief granted by the Canadian Court in the Canadian Proceeding.

The cases are pending before the Honorable Marvin Isgur and are being jointly administered for procedural purposes under case number 21-30823. This is the official website for the chapter 15 cases maintained by the Debtors’ U.S. noticing agent.

On November 3, 2022, the Canadian Court issued an order (the “Approval and Vesting Order”), inter alia (a) approving the transaction agreement (as amended, the “Transaction Agreement”) dated August 4, 2022 between Just Energy and LVS III SPE XV LP, TOCU XVII LLC, HVS XVI LLC, OC II LVS XIV LP, OC III LFE I LP and CBHT Energy I LLC (collectively, the “Sponsor”) and the transactions contemplated therein (collectively, the “Transaction”); (b) Adding 14487893 Canada Inc. and 11368, LLC (collectively, the “Residual Cos.”) as Applicants to the CCAA proceedings; (c) vesting in and to the Residual Cos., as applicable, all of the right, title and interest of the Just Energy Entities not listed on Schedule 2.2(f) of the Transaction Agreement (the “Acquired Entities”) in and to the Excluded Assets, the Excluded Contracts and the Excluded Liabilities (each as defined in the Transaction Agreement); (d) discharging Claims and Encumbrances, other than the Permitted Encumbrances, against the Acquired Entities and the Retained Assets (as defined in the Approval and Vesting Order); (e) authorizing and directing Just Energy (U.S.) Corp. (“JEUS”) to issue the Purchased Interests (as defined in the Transaction Agreement), and vesting all of the right, title and interest in and to the Purchased Interests absolutely and exclusively in and to the Sponsor, free and clear of any Encumbrances; (f) authorizing and directing Just Energy to file the Articles of Reorganization (as defined in the Transaction Agreement); and (g) terminating and cancelling or redeeming the Subject Interests (as defined in the Approval and Vesting Order) for no consideration.

On December 1, 2022, the Bankruptcy Court entered an order recognizing and enforcing the Approval and Vesting Order [Docket No. 232].

The Transaction closed on December 16, 2022. The effect of the Transaction is that the Purchaser now owns all the issued and outstanding shares of JEUS and in turn, JEUS owns all of the issued and outstanding shares of Just Energy and the Acquired Entities.

Please note that the SISP Approval Order suspended the ongoing claims review, claims determination and dispute resolution processes as of August 18, 2022, subject to certain exceptions, pending further Order of the Canadian Court.

As noted in Paragraph 36 of the Twelfth Report of the Monitor, the Transaction does not provide for any recoveries to General Unsecured Creditors.

On June 22, 2023, the Bankruptcy Court entered its Final Decree Closing Certain of the Chapter 15 Cases [Docket No. 268]. The following Chapter 15 cases are still open: 

For further information regarding the chapter 15 cases, please contact Omni Agent Solutions, the Debtors’ U.S. noticing agent, by email at [email protected], or by phone at 866-680-8161 (US & Canada, toll free) or 818-574-3196 (International, toll).

For further information regarding the Canadian Proceeding, please contact FTI, the Monitor, by email at [email protected], or by phone at (844) 669-6340 (Canada and USA, toll free), or visit the Monitor’s website at http://cfcanada.fticonsulting.com/justenergy.