Natura World Inc. (“Natura” or the “Company“) is an Ontario incorporated company that manufactures and distributes mid-to-high end all natural mattresses and related products to retail outlets in Canada and the USA. The Company has its main manufacturing facility in Cambridge, Ontario.
Natura filed a Notice of Intention to Make a Proposal (“NOI“) pursuant to the provisions of the Bankruptcy and Insolvency Act (“BIA“) on Friday, December 16, 2011 and A. Farber & Partners Inc., a member of Farber Financial Group (“Farber“), was appointed as Proposal Trustee.
The effect of the NOI is that it provides an initial 30-day stay of proceedings over all amounts owing to creditors effective December 16, 2011 (i.e. all amounts outstanding at December 16, 2011 and prior) whilst the Company formulates a Proposal to its creditors. Please note that during this process, Natura World Inc. is not bankrupt but has availed itself of a process whereby an insolvent company, under protection from its creditors, restructures it financial affairs.
On January 11, 2012, the Company was granted a 45-day extension to file its Proposal pursuant to an Order of the Ontario Superior Court of Justice. A copy of the Court Order is posted below.
On February 29, 2012, the Company was granted a further 45-day extension to file its Proposal pursuant to an Order of the Ontario Superior Court of Justice. Natura has until April 16, 2012 to file a Proposal to its creditors. A copy of the Court Order is posted below.
Natura failed to file a Proposal to its creditors before 11:59 p.m. (EST) on April 16, 2012 and, accordingly, pursuant to subsection 50.4(8) of the BIA, the Company is deemed to have made an assignment in bankruptcy. A copy of the Certificate of Assignment and Notice to Creditors package is posted below.
The purpose of this website is to provide documents to any interested persons regarding the Proposal of this company. The documents listed below are in pdf format and can be viewed and/or downloaded. Please feel free to return to this website periodically for future updates on the status of these proceedings. Additional documents and information will be posted as it becomes available.