1348441 Ontario Inc. (“Solutions”) operates a chain of specialty retail stores throughout Ontario which sell home and office organizational and storage products.
On March 26, 2020, Solutions 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 Solutions are stayed as of the date of filing of the NOI.
On April 22, 2020, Solutions attended in Court to request the Court to extend the time to file a Proposal to June 9, 2020, authorize Solutions to enter into a debtor-in-possession loan in the maximum amount of $500,000 and seek an order granting an administrative charge in an amount not to exceed $100,000. The relief sought by Solutions was granted by the Court.
On June 9, 2020, Dodick Landau Inc., in its capacity as Proposal Trustee of Solutions, filed with the Official Receiver a proposal in the name, and on behalf, of Solutions. By June 16, 2020 the Proposal Trustee mailed to all known creditors a copy of the Proposal, the Trustee’s Report on the Proposal, a blank proof of claim form with instructions, a form of proxy and a voting letter. These documents are now available for download on this website.
The Meeting of Creditors to consider and vote on the Proposal was held on June 26, 2020 at 11:00 am. At the Meeting of Creditors the Creditors voted in favour of the Proposal. The Proposal Trustee attended Court on August 11, 2020, in order to seek the Court’s approval of the Proposal which was granted.
All creditors who have not yet submitted a proof of claim, proxy and voting letter, to the office of the Proposal Trustee may send it to the attention of Ms. Brenda McKnight, either by email (email@example.com), fax (416-649-7725) or regular mail (Dodick Landau Inc., 4646 Dufferin St., Suite 6, Toronto, ON, M3H 5S4).