On January 22, 2019, VersAccounts Limited (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 A. Farber & Partners Inc. (“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 filing by the Company provides 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 VersAccounts Limited and formulate a proposal to creditors. Copies of the NOI and notice to creditors are posted below.
On January 30, 2019, the Court issued an Order (the “January 30, 2019 Order”) approving the following:
- a sale process (the “Sale Process”);
- an initial public bid to serve as the “stalking horse” bid in the Sale Process; and
- a 45-day extension of the time to file a proposal to April 8, 2019.
All public documentation relating to the Sale Process is posted below.
Creditor or Employee Inquiries
For creditor or employee inquiries, please contact:
Associate | Restructuring
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.
- Motion Record of the Company, returnable January 30, 2019
- Responding Record of S. Pande and R. Zhou, returnable January 30, 2019
- Factum of S. Pande and R. Zhou, returnable January 30, 2019
- Supplementary Affidavit of S. Pande, dated January 29, 2019
Court Orders & Endorsements
- Endorsement of Justice McEwen (Sale Process Approval) – January 30, 2019
- Order of Justice McEwen (Sale Process Approval) – January 30, 2019