Date Closed

June 3, 2024

Lead Office

Montréal

Value

25.00 Million CAD

On March 13, 2024, Just For Laughs sought and obtained an initial order pursuant to the CCAA. On March 15, 2024, the Court also issued a solicitation order, whereby it approved the implementation of a sale and investment solicitation process, seeking one or more transactions in relation to the assets and property of Just for Laughs.

On June 3, 2024, the Quebec Superior Court approved a going concern transaction between Just for Laughs and ComediHa!. Under the agreement, ComediHa! will acquire the Juste pour rire, Just for Laughs, ZooFest, ComedyPro and Gags brands, and the company's audiovisual catalogue for a purchase price of approximately C$25 million. This transaction allowed for the full payment of all sums owed to National Bank of Canada at closing, as well as payments to other creditors.

McCarthy Tétrault advised National Bank of Canada, as first secured creditor and debtor-in-possession lender, with a team led by Hugo Babos-Marchand that included Marc-Étienne Boucher and Laurence Cromp-Lapierre.