Engagement Status Updates
On April 28, 2025 (the “NOI Filing Date“), Galactic Propeller Holdings Ltd. (“GPHL“) filed a 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 proposal proceedings (the “Trustee“). The Estate Number for the proposal proceeding is 31-3216721.
Pursuant to s. 69(1) of the BIA, the NOI filing provides for a stay of proceedings against GPHL and its property, subject to certain limitations, while GPHL formulates a restructuring plan and attempts to develop a viable proposal for its creditors. Creditors have no remedy against GPHL’s property and must not commence or continue all collection actions against GPHL 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 Trustee’s office by contacting:
Deborah Taras
Email: Taras@baigel.ca
Tel: +1 (416) 224-4350 ext. 221
Please be advised that all documents posted below are for information purposes to stakeholders and do not constitute advice.