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Performance Sports Group Bankruptcy Report Filed

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Ernst & Young, Performance Sports Group’s Court-appointed monitor in the Canadian proceedings, filed with the U.S. Bankruptcy Court an eighth report, which states: “Providing the Canadian Court with information regarding the restructuring proceedings to date and the Debtors’ requests for an extension of the stay of proceedings granted in favor of the Debtors in the Canadian Proceedings (the ‘Stay of Proceedings’), the suspension of the Monitor’s obligation to file certain financial reports with the Canadian Court and the Debtors’ obligation to hold annual general meetings for the duration of the Stay of Proceedings, and approving the fees and disbursements of the Monitor and its counsel.”

In addition, “The Applicants and the Monitor are seeking an order: a) extending the Stay of Proceedings to August 1, 2017; b) suspending the Monitor’s obligation to file quarterly reports with the Court; c) approving the Monitor’s Reports and activities as set out in the Reports; d) approving the fees and disbursements of the Monitor for the Monitor Fee Period and of its Canadian counsel, TGF, and its U.S. counsel, A&O, for the Counsel Fee Period; and e) sealing Confidential Exhibit ‘D’ attached to each of the Counsel Fee Affidavits. The Monitor supports the relief sought.”

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