August 4, 2021

On August 4, 2021, the Ontario Superior Court of Justice (Commercial List) (the “Court”) approved the Claims Procedure Order and Meeting Order in the CCAA proceedings of Yatsen Group of Companies Inc., SAR Real Estate Inc. and the additional Applicant companies.

Information regarding the Claims Procedure and relate forms can be found here: Claims Procedure 

Note that the Claims Bar Date is September 1, 2021 at 5:00 p.m. (Toronto time).

The Creditors’ Meeting is scheduled to be held virtually on September 9, 2021 at 10:00 a.m. (Toronto time). Information regarding the Creditors’ Meeting can be found here: Creditors’ Meeting 

Affected Landlord Creditors may vote at the Creditors’ Meeting OR may vote by proxy by submitting their proxy form by 5:00 p.m. on September 7, 2021, per the instructions included in the Creditors’ Meeting Information Package.

A copy of the Plan of Compromise and Arrangement can be found here: Plan 

For further information please contact the Monitor at yatsengroup@alvarezandmarsal.com

On January 25, 2021, Yatsen Group of Companies Inc., et al (together, “YGC” or the “Applicants”) commenced court-supervised restructuring proceedings under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”).

On the same day, the Ontario Superior Court of Justice (Commercial List) (the “Court”) granted an order (the “Initial Order”), which among other things, provides for a stay of proceedings until February 3, 2021 (the “Stay Period”). The Stay Period may be extended by the Court from time to time.

Also pursuant to the Initial Order, Alvarez & Marsal Canada Inc. was appointed as monitor (the “Monitor”) of the business and financial affairs of the Applicants.

Chapter 15 – U.S. Proceedings

On January 25, 2021, the Monitor commenced ancillary proceedings in the United States Bankruptcy Court for the District of Delaware under Chapter 15 of the United States Bankruptcy Code, 11 U.S.C. 101-1330, as amended, (the “Chapter 15 Proceedings”) seeking recognition of the CCAA proceedings as foreign main proceedings and to give effect to the Order in the United States. For further information regarding the Chapter 15 proceedings please visit the Chapter 15 website at cases.primeclerk.com/Yatsen.