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Option Industries Inc

Bankruptcy

Page last updated: June 16, 2021

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.


Status of File as of June 15, 2021

On June 14, 2021, PwC finalized its Third and Final Report to the Court in support of an application for its discharge as Receiver and Trustee. The application is scheduled to be heard on July 19, 2021 at 2 p.m. The report and the application materials are in the process of being sent to the Court for filing. A copy of the unfiled report is posted in the Receiver’s Report section of this website. Filed materials will be posted once they are returned from the Court.

Status of File as of June 11, 2021

On June 10, 2021, the Trustee sent by regular mail notices to creditors of the Trustee’s intention to seek its discharge. A copy of this notice is posted in the Notice to Creditors section of this website.

Status of File as of September 15, 2020

On August 20, 2020, Justice Lema heard the application of PwC regarding the relief sought in respect of the alleged transfers at undervalue. On September 14, 2020, Justice Lema released his decision declining to grant the relief sought by PwC.

Status of File as of March 15, 2020

On February 21, 2020, PwC filed its Second Report to the Court seeking a declaration that certain transactions involving Option Technologies and Kos Corp be deemed by the Court as transfers at undervalue. The application was scheduled to be heard March 4, 2020, was adjourned to March 19, 2020, and then adjourned again to August 20, 2020.

Status of File as of July 19, 2019

On July 19, 2019, Justice Topolniski approved the sale of the assets of the Company to RJ Enterprises Inc. by way of a credit bid.

Status of File as of July 8, 2019

On July 8, 2019, the Receiver filed its First Report to the Court seeking approval of the sale of the assets of Option Industries Inc. to RJ Enterprises Inc. by way of a credit bid. The application will be heard at 10:00am July 19, 2019.

Status of File as of January 8, 2019 

On January 8, 2019, PricewaterhouseCoopers Inc. was appointed Receiver of Option Industries Inc. by the Court of Queen’s Bench of Alberta. A copy of the Receivership Order can be accessed under the Court Orders tab of this website.

Status of File as of December 6, 2018 

On December 6, 2018, PricewaterhouseCoopers Inc. was appointed Trustee in Bankruptcy of Option Industries Inc. by the Court of Queen’s Bench of Alberta. Copies of the relevant court orders can be accessed under the Court Orders tab of this website. 

The first meeting of creditors of the bankrupt will be held on January 8, 2019, at 2:00PM, at the offices of PricewaterhouseCoopers Inc. at Suite 1501, 10088 - 102 Avenue, Edmonton, Alberta, T5J 3N5. 

Copies of Notice of the Bankruptcy, First Meeting of Creditors, Statements of Affairs and Proofs of Claims may be accessed under the Notices to Creditors tab of this website. 

Contact us

Mark Wong

Vice President, Consulting & Deals, PwC Canada

Tel: +1 780 441 6805

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