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Page last updated May 2, 2022
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.
All contents referring to CPA members designations or documents with such designations were up to date when it was created or posted.
On August 23, 2021, following a motion filed by PwC Inc. and dated May 5, 2021, the Superior Court of Quebec rendered an Order about the distribution of money in the matter of the former notice of intention to make a proposal of Tidal Health Solutions Ltd. in virtue of the Bankruptcy and Insolvency Act.
We refer you to the Order dated August 23, 2021 for more details (“Motions and Orders” section).
As of December 8, 2020, the Notice of Intention filed by Tidal Health Services Ltd. on July 30, 2020 is deemed withdrawn and cancelled for all purposes, in accordance with the Approval and Vesting Order rendered by the Superior Court of Quebec on November 20, 2020, meaning that the company has now emerged from the Notice of Intention Proceedings as a solvent entity.
12542099 Canada Inc. is deemed to have filed an assignment on the 8th day of December 2020 and PricewaterhouseCoopers Inc., LIT (Jean-Christophe Hamel, CPA, CA, CIRP, LIT) was appointed as Trustee of the estate of the bankrupt by the Official Receiver, subject to affirmation by the creditors of the trustee’s appointment or substitution of another trustee by the creditors.
The first meeting of creditors will be held on January 8, 2021 at 9:00 a.m. by videoconference at the address:
Password (if required) : AMjmhpxU333
To join by phone: 1-855-485-3207
Meeting number: 180 398 2589
On November 20, 2020, following the filing by Tidal Health Solutions Ltd. of a Motion for the Issuance of an Approval and Vesting Order, for an Extension Order and for Ancillary Reliefs, the Superior Court of Quebec issued an Order extending the NOI Proceedings until January 4, 2021 and approving Amendments to the Interim Facility, the Interim Lender's Charge, the Administration Charge and the KERP/KEIP Agreements as well as a second Approval and Vesting Order (please refer to the "Motions and Orders" tab of this page).
On October 9, 2020, following the filing by Tidal Health Solutions Ltd. of a Motion for a Second Order Extending the NOI Proceedings and for the Approval of a Sale Outside the Ordinary Course of Business, the Superior Court of Quebec issued an Order extending the NOI proceedings until November 23, 2020 and an Approval and Vesting Order (please refer to the "Motions and Orders" tab of this page).
On August 28, 2020, following the filing of a motion by Tidal Health Solutions Ltd., the Superior Court of Quebec issued an order approving the extension of the time for filing a proposal until October 9, 2020.
On August 5, 2020, an Order approving an Interim Financing, an Interim Lender’s Charge, an Administration Charge, a D&O Charge and a KERP/KEIP Charge was granted by the Superior Court (please refer to the “Motions and Orders” tab of this page).
On July 30, 2020, Tidal Health Solutions Ltd. filed a Motion for an Order Approving an Interim Financing, an Interim Lender’s Charge, an Administration Charge, a D&O Charge and a KERP/KEIP Charge which will be presented for adjudication before the Superior Court of Québec, sitting in the commercial division for the district of Montréal.
Tidal Health Solutions Ltd. has filed with the Official Receiver a Notice of Intention to Make a Proposal pursuant to Subsection 50.4(1) of the Bankruptcy and Insolvency Act on the 30th day of July 2020.
This Web site will be updated as information becomes available.
For more information, please contact: Patrick Dorval, Telephone: +1 418 522 7002 ext 2299, Fax: +1 418 522 5663, or via Email.