Tricon Now Under Creditor Protection

TORONTO: Tricon Films & Television has been granted a 30-day period of creditor protection under the Companies’ Creditors Arrangement Act (CCAA).

Tricon will remain under CCAA protection, which it filed for with the Ontario Superior Court of Justice earlier this month, until January 11. The company has applied to have proceedings extended until January 31.

A decision is pending from the court about approval for Tricon to move ahead with finding a buyer for its library. If the motion is granted, the company will have until January 17 to receive a purchase offer and until January 31 for the deal to close.