Receivership – Case Updates On 19 January 2024, on motion by Peel Condominium Corporation No. 49 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, among other things, the appointment… continue reading
Author: Michael Baigel
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
Paul Franchi LL.B. MBA CIRP LIT joins Baigel Corp.
Baigel Corp are delighted to announce that Paul Franchi has joined the firm. Whilst Paul is a newly minted Licensed Insolvency Trustee, he also has 30+ years experience in financial analysis and advisory services. Paul will focus on assisting clients identify, consider and implement their restructuring options.
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
CORNERSTONE CANADIAN ART & CRAFT LTD. IN BANKRUPTCY
Cornerstone Canadian Art & Craft Ltd. filed an assignment in bankruptcy on May 31, 2023 and Baigel Corp. was appointed as the Licensed Insolvency Trustee of the estate of the bankrupt by the Official Receiver. The notice of the bankruptcy and first meeting of creditors is provided in the link below for information purposes only… continue reading
NUVOCARE HEALTH SCIENCES INC. in BANKRUPTCY
Nuvocare Health Sciences Inc. filed an assignment in bankruptcy on May 31, 2023 and Baigel Corp. was appointed as the Licensed Insolvency Trustee of the estate of the bankrupt by the Official Receiver. The notice of the bankruptcy and first meeting of creditors is provided in the link below for information purposes only to stakeholders… continue reading