CCAA Protection for Priszm Extended

TORONTO — The Priszm Income Fund has an order from the Ontario Superior Court of Justice (Commercial Division) to extend the stay period in its Companies’s Creditors Arrangement Act (CCAA) proceeding to Sept. 30.

The order approved the appointing of COO Jim Robertson as the new chief restructuring officer, effective July 1 and accepted the process to solicit claims in respect to any obligations and liabilities of the current or former directors and officers or the CRO of the Priszm entities. 

Priszm holds approximately a 60-per-cent interest in Priszm Limited Partnership, which owns and operates more than 400 restaurants in seven provinces across Canada under the KFC, Taco Bell and Pizza Hut brands.

For details on the D&O claims process, click here.