Vision Institute of Canada (“VIC”) was formally incorporated in August 1981, as a non-profit charitable organization. Initial service programs were aimed at providing vision care for those most in need. A low vision service began in the fall of 1982. In early 1983, services were extended to include house-calls to seniors and institutions such as nursing homes, seniors’ residences and hospitals. At the main facility, services expanded to include care for children and adults with learning, cognitive or physical disabilities, for individuals with neurological impairments and for those with other special vision needs. A small portion of the practice also provided regular eye care services to the public.
According to discussions with members of the board of directors, VIC, as is the case for many non-profit charities, has always had to navigate challenging financial circumstances to be able to balance its budget. Its financial struggles, however, were exacerbated by the onset of the COVID-19 Pandemic. Due to the evolving nature of the pandemic, in 2020 VIC had to cancel its major in person fundraiser (an annual three-day conference and exhibition). This financial loss combined with the closure of the institute’s clinic for 14 weeks, placed VIC in serious financial distress.
On March 7, 2022, VIC filed an assignment in Bankruptcy. Dodick Landau Inc. was appointed as Trustee in Bankruptcy of the Estate.
Documents
Certificate of Appointment- 31-2810193-March 7, 2022
Creditor Package Vision Institute of Canada-March 9, 2022
Trustee’s Preliminary Report Vision Institute of Canada -March 24, 2022