Latest news with #Spokes
Forbes
7 days ago
- Forbes
How The Dutch Got Their Cycle Paths: In Song
An Edinburgh musician and composer is crowdfunding to produce a video to accompany a song he has written about the cycling nirvana that is Amsterdam. 'My song is about how Amsterdam became so great for cycling, and asks why we couldn't have that infrastructure too,' says Dan Abrahams. The fundraising is to hire a director, cinematographer, and animator to produce the video. Edinburgh cycling advocacy group Spokes will match all donations up to $1,346. Previously, Abrahams has written a piece for the Scottish Chamber Orchestra which featured a home-made percussion instrument made from bicycle wheels, and he has also produced an earlier video calling for safer streets in his adopted city. 'My song is a reminder that we could be more like Amsterdam,' says Abrahams. 'People say that cycling is only so popular in the Netherlands because it's flat, doesn't rain, and because they've been cycling forever. But the reason the Netherlands has such great cycling infrastructure is because they protested for it, and lobbied politicians to make it happen.' This protest was a 1970s campaign against 'child murder,' which helped transform Dutch streets, making them safer for pedestrians and cyclists. In 1971, motorists in the Netherlands killed 3,000 people, 450 of whom were children. One of these was Simone Langenhoff, the six-year-old daughter of Eindhoven-based journalist Vic Langenhoff, a senior writer on national daily newspaper De Tijd. In anguish, he wrote a 1972 front-page article headlined, 'Stop de Kindermoord' – 'Stop the Murder of Children.' Langenhoff wrote: '[The Netherlands] chooses one kilometer of motorway over 100 kilometers of safe cycle paths ... There's no pressure group? Let's start one. Parents of little victims, worried parents of potential little victims should unite!' In the polemic, he urged that children be taken to school by bus rather than walk or cycle. His article hit a nerve, and urban activists were inspired to create the Stop de Kindermoord campaign organization. Led by Maartje van Putten, a 23-year-old new mother, the body advocated not for school buses but protection from motorists. This poignant campaign–along with the others that had preceded it–persuaded the authorities, drip by drip, to extend and improve the already extensive cycling infrastructure that had been installed in some parts of the Netherlands since the 1930s. Stop de Kindermoord organized demonstrations across the nation, usually with many children in tow. Crucially, it offered practical solutions. The protest group recruited traffic engineer Steven Schepel as technical advisor. He drew up child-friendly street designs specific to whichever local authority or municipality asked for them. In 1989, Stop de Kindermoord changed its provocative name to Kinderen Voorrang, meaning 'Priority for Children.' In 2001, it was subsumed by the road safety campaign, Veilig Verkeer Nederland–'Safe Traffic Netherlands'–which continues to campaign for road safety. Maartje van Putten later became a Member of the European Parliament. Cycling nation The protests of the 1970s did not create the cycling infrastructure in the Netherlands. The Netherlands has been the world's leading cycling nation since about 1912. The first cycleway in the country was converted from a sidewalk in 1885 on the Maliebaan, a long, straight road in Utrecht. This gravel cycle path was created for high-wheel riders by 44 members of the Algemene Nederlandse Wielrijders Bond (Royal Dutch Touring Club), ANWB for short, and founded two years previously. (The ANWB is now a motoring organization, the Dutch equivalent to the AAA, but also still advises on bicycling matters.) Originally a members-only racing track, it was opened for all cyclists in 1887, and was later extended to become a regular cycleway; it's still used for this purpose today. The separation of transport modes—alien everywhere else at the same time—quickly became standard in the Netherlands. In 1898, London's Spectator magazine reported: 'On the route from the Hague to Scheveningen there lie parallel to each other a carriage road, a canal, a bicycle track, a light railway, side-paths regularly constructed.' Writing in 1924, a Christian Science Monitor correspondent pointed out: 'Everyone in Holland cycles and everyone can cycle everywhere' because 'there is a wonderful system of roads and pathways for the cyclist.' In 1933, Karel Čapek (the Czech writer who introduced the word robot to the world) was impressed not only by the numbers of Dutch cyclists but also how they moved: 'I have seen various things in my time, but never have I seen so many bicycles as, for instance, in Amsterdam; they are no mere bicycles, but a sort of collective entity; shoals, droves, colonies of bicycles, which rather suggest teeming of bacteria or the swarming of infusoria or the eddying of flies.' An American travel journalist writing in 1934 wondered: 'If there really is anything in all this talk about evolution, another century will see the Dutch children coming into this world on tiny bicycles.' By 1938, the Netherlands had a 1,170-mile main-road network, 866 miles of which had adjoining cycleways. By contrast, in the same year, the U.K. had about 400 miles of Dutch-style cycle tracks. From the mid-1970s, more investment was made in cycling infrastructure across much of the Netherlands, with federal policies put in place that entitled municipalities to receive payment for 80% of the costs of new cycling infrastructure. At the time, the Netherlands National Tourist Office in New York encouraged Americans to visit the country on bikes. The organization produced 'Holland-Cycle Land' and other pamphlets extolling the virtues of cycling in the Netherlands. Cycling author Rob Van Der Plas—a naturalized American born and raised in the Netherlands—visited in 1974, and particularly liked the cycling infrastructure centered on Assen which had 'bikeway systems [that] are really bicycle freeways: They have well-designed crossings with other roads, often form the most direct link between towns and villages, are well surfaced. They are used [for] transportation . . . because they do not delay the cyclist.' New Yorker writer H. P. Koenig went on a cycle holiday two years later and came back with glowing reports of a country where 'bicycling is still a way of life . . .' and where 'paved bicycle lanes run alongside main roads.' Many of these paths, said Koenig, had been 'built 60 years ago,' including a 'surge of building' in the 1930s. 'A master plan for 250 miles of paved paths [near Assen, in the province of Drenthe] was devised in the mid-'50s, most of which has been completed.' Koenig added that, in Assen, he 'enjoyed the kind of bicycle riding that doesn't exist anywhere else in the same satisfactory way.' In the 1980s and 1990s, more cycling infrastructure was built, with Dutch road engineers now working to a five-point formula: Coherence: cycling infrastructure should provide good connectivity between all origins and destinations in the area. Directness: road authorities should minimize detours and delays for cyclists. Safety: road authorities should minimize the number of conflicts between motor traffic and cycle traffic and minimize the outcome of remaining conflicts. Comfort: cycling infrastructure should allow for comfortable maneuvering and minimize the use of (precious) human energy. Attractiveness: as slower modes of movement are more sensitive for the quality of urban space, cycle routes should preferably use varied small-scale environments. Safe 'Over the 18 years I've lived in Edinburgh I've seen cycling infrastructure improve very slowly,' said Abrahams, 'but it's not nearly enough to make people feel safe getting about the city. 'For the sake of the climate, air quality, people's health, congestion, more pleasant streets and much more, we need to get away from having so many cars. That means better public transport and more cycling.' 'Why can't we do it like Amsterdam,' asks Abrahams in his song. 'I want to ride my bike like they do.' Abraham's video—which he hopes will encourage Edinburgh's politicians to build more Dutch-style cycling infrastructure—will feature parts of Edinburgh being transformed by German artist Jan Kamensky, who produces animations with cars and car-centric infrastructure uprooting and levitating out of frame.
The Herald Scotland
17-05-2025
- Business
- The Herald Scotland
More than 60 transport schemes cancelled in Edinburgh
But that's what faces Edinburgh's transport convener, Labour's Stephen Jenkinson, when his committee meets this coming Thursday, and on the agenda is a not-so-cunningly disguised item titled in gloriously dense bureaucrat-speak 'City Mobility Plan – Capital Investment Programme Prioritisation Outputs'. It could just as easily be titled 'City Road Improvement Postponements,' because in essence that's wat it is, breaking the news gently to councillors, perhaps in the hope they won't notice that no less than 61 projects will be on hold because there is not enough money to complete all 134 of them. Read more John McLellan No doubt there will be a flurry of angry emails and phone calls to officers as councillors try to get the affected projects in their wards off the condemned list, and I wouldn't be surprised if the councillors will send the report back to officers for a rethink in the hope that enough money can be found down the back of the council's sofa to save their pet projects. Otherwise schemes like improving the public realm on Frederick Street and Hanover Street, reshaping the Holy Corner junction in Morningside and redesigning the Crewe Toll roundabout will all be on ice. The postponement of significant alterations to Portobello High Street ─ to cut through traffic and widen pavements ─ could face stiff resistance, not least because Portobello is home to a very militant branch of the Spokes cycling pressure group which is usually accorded a very privileged position when it comes to influencing transport decisions. Indeed, Spokes has been directly involved in work behind an earlier agenda item, to approve ten projects in a Local Traffic Improvement programme. No, I don't quite understand what the difference is between projects in the City Mobility Plan and those on the Local Traffic Improvement list is either. The list of schemes set to proceed is, not surprisingly, headed by a new road and bus route to serve hundreds of new flats in the Granton Waterfront development from West Shore Road, costing up to £10 million. So probably more. And no prizes for guessing Number Two on the list is a segregated cycleway, from the Foot of Leith Walk to Commercial Street, again priced at up to £10 million. But lurking in 13th place is potentially the most expensive project, the George Street and First New Town (GSFNT) scheme costing up to £100 million to remove cars and plant trees and turn a major thoroughfare into a what would effectively be a pedestrian precinct. Readers with only an average memory will recall that I confidently reported here that the plan was likely to be scrapped or significantly scaled back because of lack of cash, but also a fear the time taken and disruption it would cause during construction could result in the closure of several businesses. Well-places sources were clearly of a view that a repeat of what happened during the protracted work on Leith Walk in the first phase of the tram project, when some traders were forced out of business and others incurred severe losses, could not be tolerated. That in turn put the authority under severe pressure to compensate Roseburn shopkeepers who lost business during the construction of the East-West cycleway. Insiders say the key is that while detailed design work for George Street can continue, whatever scheme is proposed still needs to balance its aims with value for money and minimising disruption. With the cost estimate starting at £30 million, it does not mean it's full steam ahead for the previously published extensive and complex concept. Budgetary pressures have hardly disappeared either, so the chances are the grand design will stay on the drawing board. Read more Absent from either the pause or proceed lists are public realm improvements on Princes Street, partly because no changes to the road design are envisaged but also because the cost is expected to be met from Tourist Tax revenue. It's hoped it will be one of the first projects to demonstrate the visitor levy's benefit for all citizens, not just tourists, but as the fee doesn't come in until July next year that is likely to push work into 2027 at the earliest, and any plans would be subject to consultation with the Visitor Levy Forum, a body which has still to be constituted and whose chair, business leadership consultant Julie Ashworth, was only confirmed this month. At least that will give time for the big conversion projects, like the old Jenners building, to progress before the pavements are ripped up. And after next Thursday's meeting, no doubt councillors with postponed projects will be forming a queue for a share of Visitor Levy loot. Plan cancelled A renewed application for a block of student flats on the site of the old Murrayfield Sports Bar with was withdrawn at the 11th hour from the last Development Management sub-committee because planners were recommending refusal because they judged mitigations against flood risk from the Water of Leith were insufficient. The plan, from Edinburgh-based EH1 Students Gorgie was set to be rejected, but the developer insisted the protections were sufficient to deal with flooding that, even with climate change, would only happen once in a thousand years. By that measure if something which could only have happened twice since the birth of Christ can knock out a project, all development is hereby cancelled. John McLellan is a former Edinburgh Evening News and Scotsman editor. He served as a City of Edinburgh councillor for five years. Brought up in Glasgow, McLellan has lived and worked in Edinburgh for 30 years, and will team up with The Herald's Edinburgh correspondent Donald Turvill to report on the capital
Yahoo
15-05-2025
- Business
- Yahoo
Li-Cycle Obtains Creditor Protection Under CCAA and Chapter 15
Company enters into $10.5 million debtor-in-possession financing facility ("DIP Facility") term sheet with Glencore Li-Cycle and Glencore agree to "stalking horse" credit bid of at least $40 million for certain of the Company's subsidiaries and assets, and assumption of certain liabilities Li-Cycle expects to commence a formal sale and investment solicitation process ("SISP"), which is a continuation of its efforts to seek buyers for its business or assets TORONTO, May 15, 2025--(BUSINESS WIRE)--Li-Cycle Holdings Corp. (OTCQX: LICYF) ("Li-Cycle" or the "Company"), a leading global lithium-ion battery resource recovery company, today announced that the Company and its subsidiaries in North America (collectively, the "Li-Cycle Group") have sought and obtained from the Ontario Superior Court of Justice (the "Court") an order (the "Initial Order") providing them with creditor protection pursuant to Canada's Companies' Creditors Arrangement Act (the "CCAA"). As part of the Initial Order, the Court ordered, among other things, a stay of proceedings in favor of the Li-Cycle Group for an initial period to and including May 22, 2025 (the "Stay Period") and the appointment of Alvarez & Marsal Canada Inc. as monitor of the Li-Cycle Group during the CCAA proceedings (in such capacity, the "Monitor") to assist the Company with its restructuring efforts and to report to the Court. The Company's U.S. subsidiaries (including Li-Cycle Inc., which owns the Company's Spokes in Arizona, Alabama and New York, and Li-Cycle North America Hub, Inc., which owns the Company's Rochester Hub project) have commenced proceedings before the United States Bankruptcy Court for the Southern District of New York (the "U.S. Bankruptcy Court") under Chapter 15 of the U.S. Bankruptcy Code ("Chapter 15 Proceedings") for recognition of the CCAA proceedings as a "foreign main proceeding." The U.S. Bankruptcy Court has imposed a broad stay, for the benefit of the Company's U.S. subsidiaries, barring the commencement of legal action, the enforcement of remedies, any act to obtain possession of their property in the United States or to exercise control over such property, and other similar conduct. As part of the CCAA proceedings, the Li-Cycle Group expects to conduct a court-supervised sale and investment solicitation process (the "SISP"), which will be a continuation of its previously disclosed efforts to seek buyers for its business or its assets. The Li-Cycle Group has entered into a term sheet with an affiliate of Glencore Canada Corporation ("Glencore"), the Company's largest secured creditor, for a DIP Facility. The DIP Facility consists of a credit facility of up to a maximum principal amount of $10.5 million which is expected to be used to finance Li-Cycle's working capital requirements, including for the continued operation of its Germany Spoke, and to implement the restructuring contemplated in the CCAA proceedings, such as the pursuit of the SISP. The DIP Facility remains subject to approval by the CCAA Court. Additionally, the Li-Cycle Group has entered into an equity and asset "stalking horse" purchase agreement (the "Stalking Horse Agreement") with Glencore. Glencore has agreed to a "stalking horse" credit bid for at least $40 million for certain of Li-Cycle's subsidiaries and assets, including its Arizona Spoke, Alabama Spoke, New York Spoke, Germany Spoke, Rochester Hub project, and its intellectual property, as well as assumption of certain of its liabilities. The Stalking Horse Agreement remains subject to approval by the CCAA Court. The Company's Germany Spoke is expected to have sufficient working capital (including through the DIP Facility) to continue operating during the CCAA proceedings. Li-Cycle is undertaking efforts to wind down certain of its European subsidiaries, with the exception of its operating businesses in Switzerland and Germany. The Company will also be winding down its subsidiaries in Asia. As a result of the CCAA Proceedings, an event of default has occurred under Li-Cycle's loan agreement with the U.S. Department of Energy ("DOE"). Li-Cycle has not drawn down any funds under the DOE loan facility, as the Company has not satisfied the conditions precedent for the first advance. The CCAA Proceedings have also caused an event of default under the Company's convertible notes, which are held by Glencore and Wood River Capital, LLC ("Wood River Capital"). Wood River Capital now would have, in the absence of the stay of proceedings, the right to require the redemption of its convertible notes. The event of default under the Company's convertible notes held by Glencore has resulted in an automatic acceleration such that the principal, interest and any make-whole premium due thereunder have become immediately due and payable. As previously disclosed, the Company has been actively reducing its cost structure and seeking financing and strategic alternatives to fund its business. However, following a thorough review and after careful consideration of all available alternatives and in consultation with legal and financial advisors, the Company's Board of Directors, following receipt of the recommendation of the Company's Special Committee of independent directors, determined that it was in the best interests of the Company to commence the CCAA proceedings, with a view to pursuing the SISP and implementing one or more transactions with respect to its business and assets. The Company's Board of Directors and management will remain responsible for the day-to-day operations of the Company under the general oversight of the Monitor during the CCAA proceedings. The Initial Order provides the Company with, among other things, relief from certain reporting obligations under securities legislation. As a result of the commencement of Chapter 15 Proceedings, the Company will no longer qualify to trade on the OTCQX® Best Market and will be moved to the OTC Pink Markets effective May 15, 2025. At the "comeback" hearing before the CCAA Court on May 22, 2025, the Li-Cycle Group intends to seek, among other things, approval of the DIP Facility, the SISP and the Stalking Horse Agreement as a "stalking horse" credit bid in the SISP and an extension of the Stay Period until a subsequent date to be determined. Additional information regarding the CCAA proceedings is available on the Monitor's website at or by calling Alvarez & Marsal at 1-844-864-9548, or by emailing at LiCycle@ Documents relating to the restructuring process such as the Initial Order, the Monitor's reports to the Court, as well as other Court orders and documents shall also be published and made available on the Monitor's website. About Li-Cycle Holdings Corp. Li-Cycle (OTCQX: LICYF) is a leading global lithium-ion battery resource recovery company. Established in 2016, and with major customers and partners around the world, Li-Cycle's mission is to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. Forward-Looking StatementsCertain statements contained in this press release may be considered "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as "believe", "may", "will", "continue", "anticipate", "intend", "expect", "should", "would", "could", "plan", "potential", "future", "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements in this press release include but are not limited to statements about: the expected court-supervised sale and investment solicitation process; the expected use of the DIP Facility; the expectation that the Company's Germany Spoke will have sufficient working capital (including through the DIP Facility) to continue operating during the CCAA proceedings; Li-Cycle undertaking efforts to wind down certain of its European subsidiaries, with the exception of its operating businesses in Switzerland and Germany; the Company winding down its subsidiaries in Asia; the transfer of the quotation of the Company's common shares to the OTC Pink Markets effective May 15, 2025; the terms of any resulting transactions with any such buyers of Li-Cycle's business or its assets, including the Stalking Horse Agreement with Glencore; and what the Company intends to seek at the "comeback" hearing before the CCAA Court on May 22, 2025, including an extension of the Stay Period until a subsequent date to be determined. These statements are based on various assumptions, whether or not identified in this communication, including but not limited to assumptions regarding the working capital of the Company's operating businesses in Switzerland and Germany. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements. These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle's current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and is not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the risks and uncertainties related to Li-Cycle's business are described in greater detail in the section titled "Part I - Item 1A. Risk Factors" and "Part II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation" in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC and the Ontario Securities Commission in Canada. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement. Li-Cycle assumes no obligation to update or revise any forward-looking statements, except as required by applicable laws. These forward-looking statements should not be relied upon as representing Li-Cycle's assessments as of any date subsequent to the date of this press release. View source version on Contacts Investors & Media Investors: investors@ Media: media@
Yahoo
15-05-2025
- Business
- Yahoo
Li-Cycle Obtains Creditor Protection Under CCAA and Chapter 15
Company enters into $10.5 million debtor-in-possession financing facility ("DIP Facility") term sheet with Glencore Li-Cycle and Glencore agree to "stalking horse" credit bid of at least $40 million for certain of the Company's subsidiaries and assets, and assumption of certain liabilities Li-Cycle expects to commence a formal sale and investment solicitation process ("SISP"), which is a continuation of its efforts to seek buyers for its business or assets TORONTO, May 15, 2025--(BUSINESS WIRE)--Li-Cycle Holdings Corp. (OTCQX: LICYF) ("Li-Cycle" or the "Company"), a leading global lithium-ion battery resource recovery company, today announced that the Company and its subsidiaries in North America (collectively, the "Li-Cycle Group") have sought and obtained from the Ontario Superior Court of Justice (the "Court") an order (the "Initial Order") providing them with creditor protection pursuant to Canada's Companies' Creditors Arrangement Act (the "CCAA"). As part of the Initial Order, the Court ordered, among other things, a stay of proceedings in favor of the Li-Cycle Group for an initial period to and including May 22, 2025 (the "Stay Period") and the appointment of Alvarez & Marsal Canada Inc. as monitor of the Li-Cycle Group during the CCAA proceedings (in such capacity, the "Monitor") to assist the Company with its restructuring efforts and to report to the Court. The Company's U.S. subsidiaries (including Li-Cycle Inc., which owns the Company's Spokes in Arizona, Alabama and New York, and Li-Cycle North America Hub, Inc., which owns the Company's Rochester Hub project) have commenced proceedings before the United States Bankruptcy Court for the Southern District of New York (the "U.S. Bankruptcy Court") under Chapter 15 of the U.S. Bankruptcy Code ("Chapter 15 Proceedings") for recognition of the CCAA proceedings as a "foreign main proceeding." The U.S. Bankruptcy Court has imposed a broad stay, for the benefit of the Company's U.S. subsidiaries, barring the commencement of legal action, the enforcement of remedies, any act to obtain possession of their property in the United States or to exercise control over such property, and other similar conduct. As part of the CCAA proceedings, the Li-Cycle Group expects to conduct a court-supervised sale and investment solicitation process (the "SISP"), which will be a continuation of its previously disclosed efforts to seek buyers for its business or its assets. The Li-Cycle Group has entered into a term sheet with an affiliate of Glencore Canada Corporation ("Glencore"), the Company's largest secured creditor, for a DIP Facility. The DIP Facility consists of a credit facility of up to a maximum principal amount of $10.5 million which is expected to be used to finance Li-Cycle's working capital requirements, including for the continued operation of its Germany Spoke, and to implement the restructuring contemplated in the CCAA proceedings, such as the pursuit of the SISP. The DIP Facility remains subject to approval by the CCAA Court. Additionally, the Li-Cycle Group has entered into an equity and asset "stalking horse" purchase agreement (the "Stalking Horse Agreement") with Glencore. Glencore has agreed to a "stalking horse" credit bid for at least $40 million for certain of Li-Cycle's subsidiaries and assets, including its Arizona Spoke, Alabama Spoke, New York Spoke, Germany Spoke, Rochester Hub project, and its intellectual property, as well as assumption of certain of its liabilities. The Stalking Horse Agreement remains subject to approval by the CCAA Court. The Company's Germany Spoke is expected to have sufficient working capital (including through the DIP Facility) to continue operating during the CCAA proceedings. Li-Cycle is undertaking efforts to wind down certain of its European subsidiaries, with the exception of its operating businesses in Switzerland and Germany. The Company will also be winding down its subsidiaries in Asia. As a result of the CCAA Proceedings, an event of default has occurred under Li-Cycle's loan agreement with the U.S. Department of Energy ("DOE"). Li-Cycle has not drawn down any funds under the DOE loan facility, as the Company has not satisfied the conditions precedent for the first advance. The CCAA Proceedings have also caused an event of default under the Company's convertible notes, which are held by Glencore and Wood River Capital, LLC ("Wood River Capital"). Wood River Capital now would have, in the absence of the stay of proceedings, the right to require the redemption of its convertible notes. The event of default under the Company's convertible notes held by Glencore has resulted in an automatic acceleration such that the principal, interest and any make-whole premium due thereunder have become immediately due and payable. As previously disclosed, the Company has been actively reducing its cost structure and seeking financing and strategic alternatives to fund its business. However, following a thorough review and after careful consideration of all available alternatives and in consultation with legal and financial advisors, the Company's Board of Directors, following receipt of the recommendation of the Company's Special Committee of independent directors, determined that it was in the best interests of the Company to commence the CCAA proceedings, with a view to pursuing the SISP and implementing one or more transactions with respect to its business and assets. The Company's Board of Directors and management will remain responsible for the day-to-day operations of the Company under the general oversight of the Monitor during the CCAA proceedings. The Initial Order provides the Company with, among other things, relief from certain reporting obligations under securities legislation. As a result of the commencement of Chapter 15 Proceedings, the Company will no longer qualify to trade on the OTCQX® Best Market and will be moved to the OTC Pink Markets effective May 15, 2025. At the "comeback" hearing before the CCAA Court on May 22, 2025, the Li-Cycle Group intends to seek, among other things, approval of the DIP Facility, the SISP and the Stalking Horse Agreement as a "stalking horse" credit bid in the SISP and an extension of the Stay Period until a subsequent date to be determined. Additional information regarding the CCAA proceedings is available on the Monitor's website at or by calling Alvarez & Marsal at 1-844-864-9548, or by emailing at LiCycle@ Documents relating to the restructuring process such as the Initial Order, the Monitor's reports to the Court, as well as other Court orders and documents shall also be published and made available on the Monitor's website. About Li-Cycle Holdings Corp. Li-Cycle (OTCQX: LICYF) is a leading global lithium-ion battery resource recovery company. Established in 2016, and with major customers and partners around the world, Li-Cycle's mission is to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. Forward-Looking StatementsCertain statements contained in this press release may be considered "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as "believe", "may", "will", "continue", "anticipate", "intend", "expect", "should", "would", "could", "plan", "potential", "future", "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements in this press release include but are not limited to statements about: the expected court-supervised sale and investment solicitation process; the expected use of the DIP Facility; the expectation that the Company's Germany Spoke will have sufficient working capital (including through the DIP Facility) to continue operating during the CCAA proceedings; Li-Cycle undertaking efforts to wind down certain of its European subsidiaries, with the exception of its operating businesses in Switzerland and Germany; the Company winding down its subsidiaries in Asia; the transfer of the quotation of the Company's common shares to the OTC Pink Markets effective May 15, 2025; the terms of any resulting transactions with any such buyers of Li-Cycle's business or its assets, including the Stalking Horse Agreement with Glencore; and what the Company intends to seek at the "comeback" hearing before the CCAA Court on May 22, 2025, including an extension of the Stay Period until a subsequent date to be determined. These statements are based on various assumptions, whether or not identified in this communication, including but not limited to assumptions regarding the working capital of the Company's operating businesses in Switzerland and Germany. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements. These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle's current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and is not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the risks and uncertainties related to Li-Cycle's business are described in greater detail in the section titled "Part I - Item 1A. Risk Factors" and "Part II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation" in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC and the Ontario Securities Commission in Canada. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement. Li-Cycle assumes no obligation to update or revise any forward-looking statements, except as required by applicable laws. These forward-looking statements should not be relied upon as representing Li-Cycle's assessments as of any date subsequent to the date of this press release. View source version on Contacts Investors & Media Investors: investors@ Media: media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Edinburgh Reporter
12-05-2025
- Politics
- Edinburgh Reporter
Council orders Save Roseburn Path signs to be removed
At the weekend the Save the Roseburn Path campaign ceremoniously unveiled new signs on the path to support their efforts. But the council has ordered that the signs – produced by P7 pupils at Blackhall Primary School – are removed forthwith, claiming this is a sensitive topic. The Save the Roseburn Path group was formed in response to the council considering using part of the path for the proposed north south tram route to Granton, but at this stage the matter has yet to be put out to consultation. The Transport Convener, Stephen Jenkinson, confirmed at the end of March that the consultation will begin on the two possible routes in the middle of August. Cllr Jenkinson said he is giving officers and consultants 'the space and the time to look at all the options on the table for Granton to Bioquarter and there will be a full 12 week consultation which will then form the basis for a report to be considered by the Transport Committee probably in early 2026'. He said that he had agreed the timing for the consultation with council officers to avoid school holidays and that he wants it to be as 'robust as possible'. In response to the latest signs on the path, Cllr James Dalgleish, Education, Children and Families Convener said: 'I am aware that a group of children from a local primary school have created artwork which has been displayed along the Roseburn Path. Although I welcome pupils taking an interest in issues happening in their community, there are clearly sensitivities around this specific topic and how the opinions of pupils are expressed. The artwork was created outwith the class curriculum and during lunchtimes. We have received confirmation that the signage will be removed immediately.' This follows an earlier incident when the Transport Convener also ordered a previous sign to be removed from the path as it did not have planning permission – and also purported to be a Spokes sign which Spokes denied. Liberal Democrats Cllr Hal Osler, a Liberal Democrat Councillor, praised the new signs on Facebook, but has not responded to our enquiry for a comment. The Scottish Liberal Democrats set up an online petition backing the Save Roseburn Path campaign on which it was clearly stated that any data collected could be used for political purposes. The petition states: 'The Liberal Democrats may use the information you provide, including your political opinions, to further our objectives and share it with our elected representatives. Any data we gather will be used in accordance with our privacy policy: You can exercise your rights and withdraw your consent to future communications by contacting us: or: DPO, Lib Dems, 1 Vincent Square, SW1P 2PN.' Like this: Like Related
