On January 11, 2024, Nexii Building Solutions Inc., a Vancouver-based designer and manufacturer of sustainable building products, secured CCAA protection on January 11, listing liabilities of approximately $152.6 million. The company also sought recognition of the CCAA proceedings under Chapter 15 of the US Bankruptcy Code. Nexii has raised over $250 million, including $100 million owed to senior secured creditors Powerscourt Investments XXV, LP, Trinity Capital Inc., and Horizon Technology Finance Corporation. Despite aggressive growth in 2021, Nexii's revenue fell short of expectations, and rising costs led to liquidity issues and an inability to meet lender obligations.

Nexii, whose clients include the State of New York, Walmart, and Chase Bank, has faced significant changes in senior management and litigation in both Canada and the US. The restructuring process aims to revamp the board of directors, secure additional funding, implement employee retention policies, and reduce costs. During the proceedings, senior secured lenders will provide a DIP loan to support Nexii.

Legal advisors involved include Fasken for Nexii, Bennett Jones for the monitor KSV, and Aird & Berlis for the senior secured lenders/DIP lenders.