Nordan Group Inc. (“Nordan”) designed and produced multi-material marketing displays. On December 20, 2018 Nordan made an assignment in bankruptcy and Scott, Pichelli and Easter Ltd. consented to act as Bankruptcy Trustee. The Debtor’s assignment was an event of default under its security agreement with The Bank of Nova Scotia (“BNS”) and consequently the BNS security became enforceable. On January 11, 2019 Dodick Landau Inc. was privately-appointed Receiver (“Receiver”) pursuant to the security interests held by BNS over all of Nordan’s personal property, assets and undertakings and all proceeds thereof. The Receiver occupied the leased premises and operated the business to complete work-in-process.
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