Insolvency Engagements

Community Microskills Development Centre

On February 15, 2017, Community Microskills Development Centre (the "Company") filed an assignment in bankruptcy and A. Farber & Partners Inc. ("Farber") was appointed Trustee in Bankruptcy (the "Trustee").  The First Meeting of Creditors will be held at the Holiday Inn Toronto International Airport Hotel located at 970 Dixon Road, Toronto, Ontario on Tuesday, March 7th at 10:00am in the Macdonald Room.

Employees who require access to the premises to retrieve personal belongings can do so based on the following schedule:

  • 1 Vulcan Street - between 9am and 10am on February 16, 2017
  • Rexdale Community Hub (Panorama Court) - between 12pm and 1pm on February 16, 2017
  • 235 Dixon Road - between 2pm and 3pm on February 16, 2017
  • 200 Consumers Road - between 10am and 12:30pm on Tuesday, February 21, 2017

NOTE TO EMPLOYEES OF COMMUNITY MICROSKILLS DEVELOPMENT CENTRE REGARDING THE WAGE EARNER PROTECTION PROGRAM ("WEPP")

The Trustee is in the process of gathering payroll related information for the purpose of determining what outstanding wages, vacation pay, expenses, termination and severance pay are owing to the employees according to the Company's records.  In a bankruptcy, employees are entitled to termination and severance pursuant to the Employment Standards Act.  Once all the information is obtained and reviewed, the Trustee will send each employee an individual and personalized package with a summary of what is owing to them, a pre-populated proof of claim and instructions on how to apply for WEPP (the "WEPP Package").  Employees will then be able to review the proof of claim to confirm the Company's information agrees to their records.  The Trustee will also send this information to Service Canada (the agency that administers WEPP).  We hope to have the WEPP Packages mailed out by the end of February.

Service Canada will not deal with any WEPP claims until such time as the Trustee sends the information to them and the employees.  Accordingly, please wait for your WEPP Package before applying for WEPP or submitting a proof of claim.  

Once you receive your WEPP Package, you will then have to submit your signed proof of claim to the Trustee and apply for WEPP with Service Canada.  Once the Trustee notifies Service Canada that you have submitted your proof of claim, they will administer your WEPP claim directly with you.

Please continue to visit this website for updates on the status of the WEPP Packages.

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Tags: Insolvency & Restructuring, Insolvency Engagement

Exclusive Transfer Enterprise Corporation

Bankruptcy

On August 8, 2016, Exclusive Transfer Enterprise Corporation (the "Company") made an assignment in bankruptcy and A. Farber & Partners Inc. ("Farber") was appointed Trustee in Bankruptcy (the "Trustee").  The First Meeting of Creditors was held at the Holiday Inn Peterborough-Waterfront, located at 150 George Street North in Peterborough, Ontario on August 31, 2016, where the appointment of the Trustee was confirmed by the creditors of the Company.

Receivership

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Tags: Insolvency & Restructuring, Insolvency Engagement

Intertainment Media Inc.

On January 27, 2017, Intertainment Media Inc. ("Intertainment" or the "Company") filed a Notice of Intention to Make a Proposal ("NOI") pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the "BIA") and A. Farber & Partners Inc. ("Farber") was appointed as proposal trustee in the Company's NOI proceedings (the "Proposal Trustee").  A copy of the Certificate of Filing of a Notice of Intention to Make a Proposal along with a copy of the NOI Creditors Package are posted below.

On February 14, 2017, the Proposal Trustee will bring a Motion to the Ontario Superior Court of Justice for a Court Order approving the following:

  1. The proposed interim financing to be provided for operating expenses; and
  2. The activities of the Proposal Trustee as set out in the First Report of the Proposal Trustee.

A copy of the First Report of the Proposal Trustee and Motion Record returnable February 14, 2017 are posted below.

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Tags: Insolvency & Restructuring

BG Furniture Ltd.

Receivership

By an Order of the Honourable Justice Newbould of the Ontario Superior Court of Justice (Commercial List) (the “Court”) dated January 12, 2017 (the “Receivership Order”), A. Farber & Partners Inc. (“Farber”) was appointed receiver (the “Receiver”) of all the assets, undertakings and properties of BG Furniture Ltd. (“BG”).

The Receiver intends to liquidate the inventory and equipment of BG by way of auction or en bloc sale. Interested parties may submit proposals or offers by end of business on Monday, January 23, 2017 to the attention of Noah Litwack via fax at (416) 496-3839 or via email at nlitwack@farberfinancial.com.  

The Receivership Order does not stay or restrict the rights of the mortgagee, Platinum Investment Group Inc. (“Platinum”), with a first charge on the real property of BG, municipally known as 75 Ridout Street, Walkerton, Ontario (the “Real Property”), in respect of, among other things, Platinum’s rights to enforce its mortgage security.  It is the Receiver’s understanding that Platinum has, or will be, undertaking power of sale proceedings to sell the Real Property.

 

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Tags: BG Furniture Ltd.

Prosperity Foods Ltd.

On December 2nd, 2016, Prosperity Foods Ltd. ("Prosperity" or the "Company") filed a Notice of Intention to Make a Proposal ("NOI") pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the "BIA") and A. Farber & Partners Inc. ("Farber") was appointed as proposal trustee in the Company's NOI proceedings (the "Proposal Trustee").  A copy of the Certificate of Filing of a Notice of Intention to Make a Proposal along with a copy of the NOI Creditors Package are posted below.

As part of the proceedings, the Company sought and obtained Court approval for the sale of the Company's assets to a third party purchaser on December 13, 2016.  The related materials filed in support of the Application and the Court Orders are posted below.

The Company had until January 3, 2017 to file a Proposal with the creditors.  Unfortunately, the Company failed to file a Proposal and was deemed to have made an assignment in bankruptcy on January 4, 2017.  The Proposal Trustee was appointed as Trustee (the "Trustee") of the Estate of the Bankrupt by the Official Receiver, subject to affirmation by the creditors of the Trustee's appointment or substitution of another Trustee by the creditors.  A copy of the Notice of Bankruptcy and First Meeting of Creditors is posted below as well as a copy of the Certificate of Appointment.

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Tags: Insolvency & Restructuring, Insolvency Engagement

Strike Minerals Inc.

On November 29, 2016, Strike Minerals Inc. ("Strike" or the "Company") filed a Notice of Intention to Make a Proposal ("NOI") under Section 50.4 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the "BIA"), and A. Farber & Partners Inc. ("Farber") was appointed as proposal trustee in the Company's NOI proceedings (in such capacity, the "Proposal Trustee"). A copy of the Certificate of Filing of a Notice of Intention to Make a Proposal is posted below.

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GSR Mining Corporation/AJ Perron Gold Corp.

 

On August 23, 2016, A. Farber & Partners Inc. became the Court-Appointed Receiver (the "Receiver") pursuant to section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended, over certain rights in respect of twenty parcels of land (the "Property") jointly owned by GSR Mining Corporation and AJ Perron Gold Corp. pursuant to an Order (the "Appointment Order") of the Honourable Justice Hainey of the Ontario Superior Court of Justice (Commercial List).

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Ismac Marina Inc.

A. Farber & Partners Inc. became the Court-Appointed Receiver (the "Receiver") over the assets, property and undertaking (the "Property") of Ismac Marina Inc. o/a A.C. Marina ("Ismac") on September 24, 2015 pursuant to an Order (the "Appointment Order") of the Honourable Justice Hainey of the Ontario Superior Court of Justice (Commercial List).

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Tags: Ismac Marina Inc.

One Kenton Alzheimer Center of Excellence (Non-Profit) Inc. and B'Nai Brith Hillel of Toronto Inc. (the "Kenton Group")

Proposal Proceedings

On June 23, 2015, One Kenton Alzheimer Center For Excellence (Non-Profit) Inc. (“Kenton”) and B’nai Brith Hillel of Toronto Inc. (“BBH”, and together with Kenton, the “Kenton Group” or the “Debtors”) each filed a Notice of Intention to Make a Proposal (“NOI”) under section 50.4 of the Bankruptcy and Insolvency Act (the “Act”) and A. Farber & Partners Inc. was appointed as Proposal Trustee for both estates (the "Proposal Trustee"). The Debtors own and operate a home which cares for residents with early stage Alzheimer’s and dementia.

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Bending Lake Iron Group Limited

On August 14, 2014, an Application was made to the Court by 2403177 Ontario Inc. seeking the appointment of a Receiver over the assets, undertakings and properties of Bending Lake Iron Group Limited ("BLIG").  That hearing was adjourned to September 11, 2014.  On September 11, 2014, A. Farber & Partners Inc. was appointed Receiver over the assets, undertakings and properties of BLIG pursuant to a Court Order issued by Justice D.C. Shaw.

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Tags: Bending Lake Iron Group Limited