On December 30, 2019, Tough Mudder Events Ltd. (the “Company”) 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”), and B. Riley Farber Inc. (“B. Riley Farber”) was appointed as proposal trustee in the Company’s NOI proceedings (in such capacity, the “Proposal Trustee”). A copy of the Certificate of Filing of a Notice of Intention to Make a Proposal is posted below.
The NOI filings by the Tough Mudder Events Ltd. provide an automatic stay of proceedings against the creditors of the Company for a 30-day period (the “Stay Period”), thus providing the opportunity to restructure the affairs of Tough Mudder Events Ltd. and formulate a Proposal to creditors. Copies of the NOI and notice to creditors are posted below.
On January 28, 2020, the Company brought a Motion to the Ontario Superior Court of Justice in Bankruptcy and Insolvency (the “Court”) for a Court Order seeking an extension to the time within which the Company is required to make a Proposal. The Court issued an Order granting the extension to March 14, 2020 (the “Extension Order”). A copy of this First Extension Order is posted below.
The Motion Material filed in support of the Extension Order are under seal pursuant to an order of the Court.
On March 12, 2020, the Company brought a Motion to the Court for an Order (the “March 12 Order”) approving, among other things, the following:
- Approving an asset purchase agreement (the “APA”) between the Company and Spartan Race, Inc., or its designee (the “Purchaser”) for the sale of substantially all of the Company’s assets (the “Property”) including assignment of contracts.
- Extending the Stay period to and including April 14, 2020.
A copy of the March 12 Order is posted below.
On March 18, 2020, the Company filed an Assignment in Bankruptcy and B. Riley Farber was also appointed as Bankruptcy Trustee. A copy of the bankruptcy creditors package is posted below.
For creditor 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.
Court Orders & Endorsements