Engagement Status Updates
On February 26, 2025 (the “NOI Filing Date“), Omni Equipment Group Inc. (“Omni“) 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. (“Baigel“), Licensed Insolvency Trustee, consented to act as trustee under the proposal proceedings (the “Trustee“). The Estate Number for the proposal proceeding is 31-3191883.
Pursuant to s. 69(1) of the BIA, the NOI filing provides for a stay of proceedings against Omni and its property, subject to certain limitations, while Omni formulates a restructuring plan and attempts to develop a viable proposal for its creditors. Creditors have no remedy against Omni’s property and must not commence or continue all collection actions against Omni 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.
The Sale and Investment Solicitation Process (“SISP”)
Omni and several of its affiliates (collectively, the “Companies“) engaged Baigel prior to the NOI Filing Date to, among other things, develop a SISP in respect of all or some of the Companies’ assets, properties and undertaking (collectively, the “Property“), and/or the businesses conducted by the Companies (for each of the Companies, a “Business” and collectively, the “Businesses“). The SISP and bidding procedures thereof are detailed in a memorandum prepared by the Trustee (the “SISP Memo“). A copy of the SISP Memo is available on this case website below.
Omni’s affiliates included in the Companies are Canaquip Inc., Econoquip Ltd. and Covra Food Equipment Inc. (together, the “Affiliates”). All or some of the Affiliates have filed or may file their own NOI in due course. Until such time as the Affiliates file their own NOIs, Baigel shall be acting in a financial advisory capacity for those Affiliates in respect of the SISP.
Update: Canaquip Inc. filed its NOI on March 7, 2024, and Baigel is the Trustee. Please click here for access to the case website for the proposal proceedings of Canaquip Inc.
Parties interested in making inquiries or participating in the SISP may contact the Trustee to obtain a non-disclosure agreement and other details regarding the SISP, the Property and the Businesses. Please note that the deadline for submission of offers is 5:00 p.m. (Toronto time) on March 24, 2025.
Creditor/Stakeholder Inquiries
Enquiries from creditors and/or stakeholders may be directed to the Trustee’s office by contacting:
Deborah Taras
Email: Taras@baigel.ca
Tel: +1 (416) 224-4350 ext. 221
SISP Inquiries
Inquiries of parties interested in the SISP may be directed to the attention of the following:
Noah Litwack, CIRP, LIT
Tel: +1 (437) 432-4959
Email: Litwack@baigel.ca
William Gertler, MBA, CIRP, LIT
Tel: +1 (416) 224-4350 ext. 220
Email: Gertler@baigel.ca
Please be advised that all documents posted below are for information purposes to stakeholders and do not constitute advice.