Mad Catz Interactive Inc. and 1328158 Ontario Inc. o/a Mad Catz Canada (collectively the “Companies”)


In Bankruptcy

Page last updated: September 19, 2017

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 31, 2017 (the “Date of Bankruptcy”), each of Mad Catz Interactive Inc. (“MCII”) and 1328158 Ontario Inc., o/a Mad Catz Canada (“MCC”), made an assignment into bankruptcy for the general benefit of creditors pursuant to the provisions of the Bankruptcy and Insolvency Act (“BIA”) and PricewaterhouseCoopers Inc., LIT (“PwC”) was appointed as Licensed Insolvency Trustee, of the estates of MCII and MCC (“Trustee”).

MCII was a holding company that owned MCC, which carried on operations in Canada.  MCII directly or indirectly owned other global entities in the Mad Catz group.  These other entities were not included in the assignment in bankruptcy of MCII or MCC.

Please note that separate insolvency proceedings have been commenced for other Mad Catz entities in the following jurisdictions:
 

Entity

Country

Contact Information

Mad Catz Inc.

United States

Archer & Greiner P.C.
300 Delaware Avenue, Suite 1100
Wilmington, DE 19801
Attention: Alan M. Root, Esq
               David W. Carickhoff, Jr., Esq.
Tel: +1-302-777-4350
Email: aroot@archerlaw.com

Mad Catz
Europe Limited

United Kingdom

Leonard Curtis Business Solutions Group
5th Floor
Grove House
248a Marylebone Road
London, NW1 6BB
Attention: Dane O’Hara
               Luke Mahoney
Tel: +44-207-535-7000
Email: dane.o'hara@leonardcurtis.co.uk         luke.mahoney@leonardcurtis.co.uk

Mad Catz Interactive
Asia Limited

Hong Kong

PricewaterhouseCoopers Limited
20/F Prince's Building,
Central, Hong Kong
Attention: Jet Chu
Tel: +852 2289 5059
Email: jet.f.chu@hk.pwc.com


If you are a creditor or other interested party in respect of those entities, please contact the trustee, administrator or liquidator in those respective proceedings.  Contact information for those parties is being posted above  as it becomes available.

Notice of the bankruptcy and the first meeting of creditors and materials relating to the bankruptcy proceedings (the “Notice”) was mailed by the Trustee on April 5, 2017 to all known creditors of the Companies, pursuant to the provisions of the BIA. Copies of the Notices are posted below.
 


The first meeting of creditors for MCC and MCII will be held at the offices of the Trustee, at PwC Tower, 18 York Street, Suite 2600, Room 26013 (Frankfurt), Toronto, Ontario, Canada, at the following times:

MCII:   10:30 AM
MCC:  10:00 AM



Status of the file as of September 19, 2017

On September 19, 2017, the Court issued Orders (the "Approval and Vesting Orders"), which among other things,

a)  approved the sale of the Acquired Assets of the bankruptcy estates of MCII and MCC, described in the APA, contemplated between the Trustee and the Buyer (the "Transaction");

b)  authorized and approved the execution of the APA;

c)  authorized the vesting in the Buyer the Companies’ rights, title and interest in and to the Acquired Assets free and clear of and from any and all security interests; and

d)  directed to keep the Confidential Bid Summary sealed until the Trustee files its Trustee’s Certificate with the Court in connection with the Transaction.

and on the same date, the Court approved the Trustee’s First Report.

Status of the file as of September 13, 2017

On September 12, 2017, the Trustee filed its First Report (the “First Report”) with the Court, to among other things:

a)    provide the Court with the information regarding the Trustee’s actions to date;

b)    support the application of the Trustee for an order (the “Approval and Vesting Order”) approving the transactions contemplated under the Asset Purchase Agreement (“APA”) entered into between the Trustee and Fast Track Global Limited (the “Buyer” or “Fast Track”) and vesting in the Buyer, the Companies’ right, title and interest, if any, in and to the acquired assets described in the APA; and

c)     request the Court to seal the Confidential Bid Summary (as defined in the First Report);

and to seek an order of the Court 

a)    approving the sale of the intellectual property assets (the “Acquired Assets”) of the bankruptcy estates of MCII and MCC, described in the APA, contemplated between the Trustee and the Buyer; and

b)    vesting in the Buyer the Companies’ rights, title and interest in and to the Acquired Assets free and clear of and from any and all security interests.

The motion will be heard on September 19, 2017.



This Web site will be updated as information becomes available.

For more information, please contact: Tammy Muradova, Telephone: +1 416 941 8383 ext 14456, or via Email
 

Contact us

Tammy Muradova
Senior Associate
Tel: +1 416 941 8383 ext 14456
Email