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
Category: Articles
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
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
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
Gyroscopic Inc.
Bankruptcy Gyroscopic Inc. (“Gyroscopic“) filed an assignment in bankruptcy on September 22, 2023, and Baigel Corp., Licensed Insolvency Trustee (“Baigel“), was appointed as trustee of the estate of the bankrupt by the Official Receiver. Receivership On February 26, 2024, the Ontario Superior Court of Justice (Commercial List) (the “Court“) issued an order (the “Receivership Order“)… continue reading
Baigel Corp. has joined IR Global to enhance its cross-border capabilities
Baigel Corp has been admitted as the Canadian insolvency representative of the IR Global network. IR Global is a multi-disciplinary professional services network that provides legal, accountancy, financial advice to companies and individuals around the world. Membership of IR Global will enable Baigel Corp to extend its ability to provide services on insolvency matters that have… continue reading
13272664 Canada Inc.
Engagement Status Updates On the 25th day of January 2023, 13272664 Canada Inc. (the “Company”) filed an assignment in bankruptcy and Baigel Corp. was appointed as Trustee. The Company had its head office located in Georgina, Ontario, and operated two retail franchises of Sessions Cannabis in Uxbridge, Ontario and Kingston, Ontario. The first meeting of… continue reading