Sextant Strategic Opportunities Hedge Fund L.P., Sextant Capital Management Inc. and Sextant Capital GP Inc.
Bankruptcy
This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.
On April 13, 2011, Sextant Strategic Opportunities Hedge Fund L.P., Sextant Capital Management Inc. and Sextant Capital GP Inc. (collectively "Sextant") each filed an assignment in bankruptcy for the general benefit of its creditors (the "Assignment") and PricewaterhouseCoopers Inc. was appointed as trustee in bankruptcy (the "Trustee"), subject to affirmation by the creditors at the meeting of creditors.
The meeting of creditors was held on May 3, 2011 at the offices of PricewaterhouseCoopers Inc., 77 King Street West, Suite 3000, Toronto, Ontario.
In accordance with the provisions of the Bankruptcy and Insolvency Act, the Trustee's Notice of Bankruptcy and First Meeting of Creditors was mailed to all known creditors.
Status of file as of December 4, 2012
On December 4, 2012, the Court issued an order approving (1) the activities of the Trustee, (2) the accounts of the Trustee and that of its various legal counsels and, (3) authorizing the Trustee to distribute a dividend to creditors with proven claims.
Status of file as of November 30, 2012
On November 1, 2012, the Trustee filed its Second Report to the Court to inform the Court of:
- the activities of the Trustee since the date of the Trustee’s First Report; and to support the Trustee’s motion for an Order of the Court that, among other things;
- approves the accounts of the Trustee and its legal counsel, Torys LLP and Icelandic counsel, for the period set out; and
- authorizes and directs the Trustee to distribute a dividend of approximately $166,500 amongst creditors with proven claims, in accordance with the provisions and priorities set out in the BIA.
Status of file as of December 16, 2011
On December 16, 2011, the Court issued an order authorizing and directing the procedural and substantive consolidation of the estates of Sextant for all purposes in connection with the administration of the bankruptcy proceedings.
Status of file as of December 2, 2011
On November 1, 2011, the Trustee prepared its First Report to the Court to: (i) request an Order authorizing and directing the procedural and substantive consolidation of the estates of Sextant for all purposes in connection with the administration of the bankruptcy proceedings; and (ii) provide the factual support and the recommendation of the Trustee. A motion will be heard on December 16, 2011.
| Title | Date |
|---|---|
| Consolidation Order & Endorsement | 2011-12-16 |
| Notice of Motion | 2011-12-16 |
| Brief of Authorities of the Trustee | 2012-11-27 |
| Trustee’s First Report to the Court | 2011-11-30 |
| Factum of the Trustee | 2011-12-16 |
| Sextant Capital GP Inc. Certificate of Appointment | 2011-04-13 |
| Sextant Capital Management Inc. Certificate of Appointment | 2011-04-13 |
| Proof of claim | 2011-04-13 |
| Sextant Strategic Opportunities Hedge Fund L.P. Certificate of Appointment | 2011-04-13 |
| Dividend and Approval of Accounts Order | 2012-12-04 |
| Motion Record returnable December 4, 2012 | 2012-11-27 |
| Second Report of the Trustee | 2012-11-01 |
| Factum of the Trustee | 2012-11-27 |
| Supplement to the Trustee’s Second Report to the Court | 2012-11-30 |
| Endorsement of Justice Wilton-Siegel | 2012-12-04 |
