Arclin US Holdings Inc. and 6 affiliated entities (”Debtors”) filed a petitions in Bankruptcy Court for the District of Delaware for relief under chapter 11 of title 11 of the United States Code. Certain of the Debtors’ non-debtor Canadian affiliates (the “CCAA Debtors” and, collectively with the Debtors, the “Arclin Group”) contemporaneously filed for court protection in Canada from their creditors under Canada’s Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”), in the Ontario (Commercial List) Superior Court of Justice (the “Canadian Court” and the filing, the “Canadian Proceeding”).
The Arclin Group develops, produces, and markets bonding and surfacing products and technology for the engineered materials markets. The resin bonding products are used predominantly in the manufacture of residential and industrial construction materials such as particleboard, medium density fiberboard, plywood and oriented strandboard. According to the affidavit filed in support of its first day motions, the Arclin Group has approximately 25% of the resins market in the United States and Canada.