On September 27, 2019, by Order (the “Receivership Order”) of the Ontario Superior Court of Justice (Commercial List) (the “Court”), B. Riley Farber Inc. (“B. Riley Farber”) was appointed as receiver (the “Receiver”), pursuant to section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended, without security, of all of the assets, undertakings and properties of B & W Heat Treating Canada ULC (the “Debtor“), effective September 30, 2019.
On September 27, 2019, the Court issued an Order (the “Approval and Vesting Order”) approving, among other things, a transaction for the purchase and sale between Hilco Industrial Canada, ULC and B. Riley Farber of the undertaking, property and assets of the Debtor; and, the vesting in the Purchaser, the Debtor’s right, title and interest in and to the assets as described in the sale agreement dated September 25, 2019.
On March 31, 2020, the Debtor 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.
The Trustee applied to Court for an extension of the 90-day period under the Commercial Tenancies Act for the Trustee to elect to retain or disclaim the lease. The Endorsement of Justice McEwan released June 18, 2020 extended the election period an additional 3 months after June 29, 2020. The Trustee and its agents, including CBRE, have access to the premises for the purpose of marketing the premises to potential assignees of the Lease.
On November 9, 2020, the Court issued an Order approving, amongst other things: the activities of both the Trustee and Receiver, as outlined in the below attached Joint First Report of the Receiver and Second Report of the Trustee, dated November 3, 2020; the accounts and fees of both the Trustee, Receiver and its legal counsel; and, that both the Trustee and Receiver shall proceed for its Discharge.
Creditor or Employee Enquiries
For creditor or employee enquiries, please contact:
E: [email protected]
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 Endorsements & Orders
- The Order of Pattillo J., (Appointment Order) dated September 27, 2019
- The Order of Pattillo J., (Approval & Vesting Order) dated September 27, 2019
- The Endorsement of Pattillo J., dated September 27, 2019
- The Order of Hainey J., (Sale Agreement Amendment) dated October 16, 2019
- The Endorsement of McEwan J., (premises access) dated June 18, 2020
- The Order of Koehnen J., (Distribution and Discharge) dated November 9, 2020
- Application Record dated September 26, 2019 – 1 of 3
- Application Record dated September 26, 2019 – 2 of 3
- Application Record dated September 26, 2019 – 3 of 3
- Motion Record returnable October 16, 2019
- Motion Record (premises access), returnable June 11, 2020
- Book of Authorities of the Trustee (premises access)
- Factum of the Trustee
- Factum of 2428076 Ontario Inc.
- Joint Motion Record of the Receiver and Trustee, returnable November 9, 2020
- First Report of the Trustee, dated June 5, 2020
- Joint First Report of the Receiver and Second Report of the Trustee, dated November 3, 2020