Nygard Properties Ltd., Nygard Enterprises Ltd., Nygard International Partnership, 4093887 Canada Ltd. and 4093879 Canada Ltd. (collectively referred to as the “Nygard Group”) each filed a Notice of Intention to Make a Proposal (“NOI”) under Section 50.4 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the “BIA”) on March 9, 2020. A. Farber & Partners Inc. (“Farber”) was appointed as Proposal Trustee (the “Proposal Trustee”) to the estates. A copy of the Certificates of Filing of a Notice of Intention to Make a Proposal are posted below.
The NOI filings by the Nygard Group provide an automatic stay of proceedings against the creditors of Nygard Group for a 30-day period (the “Stay Period”), thus providing the opportunity to restructure the affairs of Nygard Group and formulate a proposal to creditors. During this time, Nygard Group is not bankrupt.
On March 18, 2020, secured creditor White Oak Commercial Finance LLC was granted a Motion by the Court of The Queen’s Bench in Winnipeg (the “Court”) to appoint Richter Advisory Group Inc. as receiver (the “Court-Appointed Receiver”), without security, of all the assets, undertakings and properties of Nygard Group.
On March 18, 2020, the Court issued an additional order granting a stay of the NOI proceedings sine die.
A copy of both court orders dated March 18, 2020 are posted below.
For all enquiries, please contact the Court-Appointed Receiver:
The case updates and court filed documents on this website are for information purposes only and you should consult your financial or legal adviser if you have any questions or concerns about your rights or obligations. Additional updates on the status of these proceedings may become available in the future.
- First Report of the Proposal Trustee – March 11, 2020
- Second Report of the Proposal Trustee – March 17, 2020
Court Orders & Endorsements
- Order of Justice J.G. Edmond – March 10, 2020
- E-Civil Disposition Sheet Secured (CI20-01-26627) – March 10, 2020
- Draft Order – March 12, 2020
- Order of Justice J.G. Edmond – March 18, 2020 (Appointing Receiver)
- Order of Justice J.G. Edmond – March 18, 2020 (Stay of the NOI Proceedings)
- Decision of Justice J.G. Edmon – March 26, 2020
- Brief of the Applicant (Reduced) – White Oaks Receiver Application
- Notice of Motion (Appointment of Receiver and Lift Stay ) – March 10, 2020
- Affidavit of Greg Fenske sworn March 11, 2020
- Supplemental Affidavit of Robert Dean sworn March 17, 2020
- Notice of Motion – March 18, 2020
- Affidavit of Greg Fenske sworn March 18, 2020
- Supplementary Brief of the Applicant – March 18, 2020