Pluribus Tech Gets Creditor Protection to Pursue Restructuring

Pluribus Technologies says it has been granted initial court order under Companies’ Creditors Arrangement Act (CCAA) to restructure its business.

• To seek creditor protection under CCAA given previously announced termination of forbearance agreement and immediate payment demand from National Bank of Canada
• Order provides for a stay of proceedings up to and including Dec. 27, and approval of debtor-in-possession financing
• Pluribus Group intends to undertake a court supervised sale

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Lin Cheng in New York at lcheng97@bloomberg.net

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