No Match Found
Page last updated: April 9, 2020
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 March 11, 2020, Green Relief Inc. (“Green Relief” or the “Company”) filed a Notice of Intention to Make a Proposal (“NOI”) pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act (Canada) (“BIA”) and PricewaterhouseCoopers Inc., LIT (“PwC”) was named as the Licensed Insolvency Trustee under the NOI (the “Proposal Trustee”).
As a result of the filing of the NOI, all creditors are stayed from commencing or continuing any proceedings against the Company and Green Relief has a period of 30 days to file their proposal with the Proposal Trustee pursuant to the provisions of the BIA (the “Stay Period”), subject to any extensions of the Stay Period that the Court may grant upon application by Green Relief.
On March 17, 2020, the Notice of the NOI and the Proposal Trustee’s appointment was mailed to all known creditors of Green Relief in accordance with the provisions of the BIA
On April 8, 2020, Green Relief sought and obtained an order (the “Initial Order”) from the Ontario Superior Court of Justice (Commercial List) (the “Court”) authorizing that the NOI Proceedings may be continued under the Companies’ Creditors Arrangement Act (“CCAA Proceedings”) and appointing PricewaterhouseCoopers Inc., LIT (“PwC”), as monitor in the Company’s CCAA Proceedings (the “Monitor”). Information relating to the CCAA Proceedings can be found on the front page of this website.
On April 7, 2020, the Proposal Trustee filed its first report (the “Trustee’s Report”) with the Court to provide the Court with information regarding the following:
On April 3, 2020, the Company filed a motion and on April 6, 2020, a supplementary motion for an order (the "Initial Order"), to among other things:
In the alternative, an order (the “NOI Extension Order”) extending the time period within which Green Relief must file a Proposal with the Official Receiver and extend the Stay in the NOI proceedings to May 1, 2020.
The motion will be heard on April 8, 2020