Island Delivery Inc. (“Island”) is in the business of transporting freight by truck throughout the Greater Toronto Area. On July 15, 2015, Island 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 Island are stayed as of the date of filing of the NOI. On August 13, 2015, pursuant to section 62 of the BIA, Island filed with the Official Receiver a proposal (the “Proposal”). A meeting of the creditors of Island to consider the Proposal was held at the office of the Proposal Trustee, Dodick Landau Inc., located at 4646 Dufferin St., Suite 6, Toronto, Ontario, M3H 5S4, on September 3, 2015 at 11:00 a.m. At this meeting the creditors voted in favour of Island’s proposal. On October 6, 2015 the Superior Court of Justice approved Island’s proposal.
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