Toronto Machine & Tool Inc. (“TMT”) operates a specialty machine and tool shop and supplies machined castings and components, fabrications and assemblies to customers in a variety of industry sectors including Pulp and Paper, Oil and Gas, Mining, Agriculture, Manufacturing, Industrial/ Heavy Machinery and Automotive. On December 8, 2017, TMT filed a Notice of Intention to Make a Proposal to its creditors pursuant to subsection 50.4 (1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the “BIA”) and Dodick Landau Inc. was named Proposal Trustee. Pursuant to the provisions of subsection 69 (1) of the BIA a stay of proceedings has been initiated and all proceedings against TMT are stayed as of the date of filing of the NOI. On January 5, 2018, pursuant to section 62 of the BIA, TMT filed with the Official Receiver a proposal (the “Proposal”). A meeting of the creditors of TMT to consider the Proposal will be held at the office of the Proposal Trustee, Dodick Landau Inc., located at 4646 Dufferin St., Suite 6, Toronto, Ontario, M3H 5S4, on January 25, 2018 at 11:00 a.m. Details relating to the filing of claims, and other documents, prior to the meeting of the creditors, are outlined in the creditors’ package which will be mailed to all known Creditors of TMT on January 15, 2018.
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