The Saree Room Inc.

Engagement Status Updates

On January 23, 2025 (the “NOI Filing Date“), The Saree Room Inc. (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 Estate Number for the proposal proceeding is 31-3177438.

Pursuant to s. 69(1) of the BIA, the NOI filing provides for a stay of proceedings against the Company and its property, 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 in respect of any debts owed as of the NOI Filing Date, unless an exception has been provided for in law, or a court of competent jurisdiction orders otherwise.

Creditor/Stakeholder Inquiries

Enquiries from creditors and/or stakeholders may be directed to the Proposal Trustee’s office by contacting:

Deborah Taras
Email: taras@baigel.ca

Noah Litwack, CIRP, LIT
Email: litwack@baigel.ca

Tel: +1 (416) 224-4350