Engagement Status Updates On March 7, 2025 (the “NOI Filing Date“), Canaquip Inc. (“Canaquip“) 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… continue reading
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Omni Equipment Group Inc.
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… continue reading
The Saree Room Inc.
Engagement Status Updates NOI: 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 “Trustee“)…. continue reading
Clearfit Inc.
Receivership On 3 June 2024, the Ontario Superior Court of Justice (Commercial List) (the “Court“) issued an order (the “Receivership Order“) providing for, among other things, the appointment of Baigel as receiver (in such capacity, the “Receiver“) of all the assets, properties, and undertakings (the “Property“) of Clearfit Inc. (“Clearfit“) operating as Career Spark, pursuant… continue reading
Redpill Canada VR, Inc.
Redpill Canada VR, Inc. filed an assignment in bankruptcy on April 15, 2024, and Baigel Corp., Licensed Insolvency Trustee, was appointed as trustee of the estate of the bankrupt by the Official Receiver. The first meeting of creditors will be held by videoconference on May 1, 2024, at 12:00 noon (Eastern time) and is for… continue reading
2502511 ONTARIO CORP. and 15599563 CANADA INC.
Receivership – Case Updates On 19 January 2024, on motion by Peel Condominium Corporation No. 49 (in such capacity, the “Plaintiff“) in the proceeding underway in Court File No. CV-23-00706755-0000 (the “Proceeding“) in the Superior Court of Justice at Toronto, Ontario (the “Court“), the Honourable Justice Brownstone made an order (the “Receivership Order“) providing for,… continue reading
Pre-Construction Real Estate Deal Blow-Ups
Market Segment Review A Condo Purchaser’s Nightmare: When Is a Proposal to Creditors a Possible Solution? By: Paul J. Franchi LL.B, MBA, CIRP, LIT and Jeremy Kroll, CPA, CA CIRP, LIT, Baigel Corp. What, at the time of the commitment, seemed like a no-lose investment or home purchase, with a sale agreement signed (hereinafter “APS”… continue reading
Market Segment Review
FURNITURE RETAILERS AND DECLINING ONTARIO HOME SALES By: Paul J. Franchi LL.B, MBA, CIRP, LIT Baigel Corp. My November 2022 presentation on Insolvency in Scarborough, Ontario connected me with hundreds of local professionals engaged in the Furniture Distribution industry and dozens of furniture retailers. Within months, I found myself knee-deep in my first furniture retailer… continue reading
RocketFin Consulting Inc.
Engagement Status RocketFin Consulting Inc. filed an assignment in bankruptcy on November 10, 2023, and Baigel Corp., Licensed Insolvency Trustee, was appointed as trustee of the estate of the bankrupt by the Official Receiver. The first meeting of creditors will be held by videoconference on November 30, 2023, at 11:00 a.m. (Eastern time) and is… continue reading
M-B Stucco Ltd.
Engagement Status On October 10, 2023, M-B Stucco Ltd. (the “Bankrupt“) was adjudged bankrupt by order (the “Bankruptcy Order“) of the Ontario Superior Court of Justice (In Bankruptcy and Insolvency) (the “Court“), and Baigel Corp., Licensed Insolvency Trustee, was appointed as trustee of the estate of the Bankrupt. The Application for the Bankruptcy Order (Court… continue reading