Jimmy Guaco’s Inc., 2359374 Ontario Inc., 8091463 Canada Inc. and 2798497 Ontario Inc. (“Jimmy Guaco’s”) operated a chain of restaurants in Ontario featuring Mexican inspired grills.
On December 5, 2022, Jimmy Guaco’s filed four Notices of Intention to Make Proposals 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 Jimmy Guaco’s are stayed as of the date of filing of the NOI.
Meetings of Creditors to consider and vote on the Proposals were held on February 1, 2023 at 11:00 am. At the Meetings of Creditors the Creditors voted in favour of the Proposals. The Proposal Trustee will next attend in Court, in order to seek the Court’s approval of the Proposals.