On December 2nd, 2016, Prosperity Foods Ltd. (“Prosperity” or the “Company“) filed a Notice of Intention to Make a Proposal (“NOI“) pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the “BIA“) and B. Riley Farber Inc. (“B. Riley Farber“) was appointed as proposal trustee in the Company’s NOI proceedings (the “Proposal Trustee“). A copy of the Certificate of Filing of a Notice of Intention to Make a Proposal along with a copy of the NOI Creditors Package are posted below.
As part of the proceedings, the Company sought and obtained Court approval for the sale of the Company’s assets to a third party purchaser on December 13, 2016. The related materials filed in support of the Application and the Court Orders are posted below.
The Company had until January 3, 2017, to file a Proposal with the creditors. Unfortunately, the Company failed to file a Proposal and was deemed to have made an assignment in bankruptcy on January 4, 2017. The Proposal Trustee was appointed as Trustee (the “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. A copy of the Notice of Bankruptcy and First Meeting of Creditors is posted below as well as a copy of the Certificate of Appointment.
Creditor or Employee Enquiries
For creditor or employee enquiries, please contact:
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.
Proposal Trustee Reports
- Approval & Vesting Order, dated December 13, 2016
- Order (Admin Charge), dated December 13, 2016
- Endorsement, dated December 13, 2016