Engagement Status Updates
Update – May 28, 2021
On May 26, 2021, 2600167 Ontario Inc. operating as Dean Group (the “Company“) filed an Notice of Intention to Make a Proposal (“NOI“) under subsection 50.4(1) of the Bankruptcy and Insolvency Act (Canada) (the “BIA”) and Baigel Corp., Licensed Insolvency Trustee, consented to act as trustee under the NOI (the “Proposal Trustee“).
The NOI filing provides for a stay of proceedings against the Company and its property, pursuant to s. 69(1) of the BIA, subject to certain limitations, while the Company formulates a restructuring plan and attempts to develop a viable proposal for its creditors. Creditors have no remedy against the Company’s property and must not commence or continue all collection actions against the Company, unless an exception has been provided for in law, or a court of competent jurisdiction orders otherwise.
Update – June 24, 2021
On June 25, 2021, the Ontario Superior Court of Justice (in Bankruptcy and Insolvency) will hear the Company’s motion for, among other things, an extension to the date on which the Company must file a proposal to August 10, 2021. The hearing will be held on June 25, 2021 at 10:00 a.m. via Zoom. Coordinates for the hearing are available on request to the Proposal Trustee. Copies of the motion materials, including the Motion Record dated June 24, 2021 and the Proposal Trustee’s first report to Court dated June 24, 2021 (the “First Report“), are available for download below.
Enquiries from creditors and/or stakeholders may be directed to the Proposal Trustee’s office by contacting:
Noah Litwack, CIRP, LIT
Tel: +1 (416) 224-4350
Please click on the links below for access to the relevant documents. Associated documents linked below are provided for information purposes to stakeholders and do not constitute advice.