Clover Inc.

Clover Inc. (the “Company”) filed an assignment into bankruptcy on August 2, 2023, pursuant to the Bankruptcy and Insolvency Act (“BIA”) and B. Riley Farber Inc., LIT (“B. Riley Farber”), was appointed as Trustee in Bankruptcy.

Beneficiary Identification Procedure Process

On April 11, 2025, the Ontario Superior Court of Justice (Commercial List) issued an order (the “Beneficiary Identification Procedure Order”) in the bankruptcy of Clover Inc. which authorizes B. Riley Farber, as bankruptcy trustee, to run a procedure which identifies, quantifies, and resolves certain Claims of Potential Beneficiaries (defined below) to funds held in trust by the Trustee (the “Claims Process”).

The Claims Process is for individuals who paid subscription fees for Clover’s app after the app was taken offline and removed from the Apple and Google app stores (the “Subscription Funds”) on August 2, 2023 and have not received a refund. The Claims Process aims to identify any individuals who may have a right to these Subscription Funds (each a “Potential Beneficiary”).

All claims must be received by the Trustee by 5:00PM EST on June 30, 2025 (the “Claims Bar Date”). Any Potential Beneficiary that fails to submit a Claim by the Bar Date shall have their Claim forever discharged and extinguished, and be unable to participate in any distribution in respect of the same.

The Claims Process Notice, which includes the Proof of Claim form and instructions to complete the Proof of Claim form, can be found below.

For any questions in relation to the Claims Process, please contact:

Emily Klein
T: 905.809.7331
E: [email protected]

Sales Process

B. Riley Farber Inc. is conducting a sale process to invite offers for the purchase of all of the rights, title and interest in the Company’s assets, property and undertakings (the “Assets”).

Assets:
• Intellectual Property

Sale Process Documents:
• Teaser
• NDA

Interested Parties have until 5:00PM (EST), February 22, 2024 to submit a binding offer directly to the Trustee.

The sale process concluded and the Assets of the Company were sold on April 15, 2025.

WEPPA and Employees

Clover Inc. terminated all employment on July 31, 2023 and filed an assignment in bankruptcy on August 2, 2023 and B. Riley Farber Inc. was named as Trustee in Bankruptcy.

We understand that Clover Inc. paid all the wages and vacation pay to July 31, 2023 and has already issued employees’ Record of Employment and T4 Form.

Claims for termination and severance pay are unsecured claims in the bankruptcy estate. It appears that there will not be any monies available to pay the unsecured claims from the bankruptcy estate. However, employees may have a claim that may be paid by the Wage Earner Protection Program (the “WEPP”) for unpaid termination and severance pay up to an amount equaling seven weeks of maximum insurable earnings under the Employment Insurance Act (approximately $8,278.83), less certain amounts prescribed by regulation. The Trustee is currently reviewing Clover Inc.’s books and records to determine which employees are eligible for a WEPP claim. The Trustee will provide eligible employees with additional information on how to apply for payments under the WEPP in the next few weeks.

Creditors

Section 102(1) of the BIA requires the trustee to prepare and send a Notice to Creditors including the names, addresses and amounts owing to each creditor. The trustee is sensitive to the privacy concerns raised by certain Streamers and GEMS creditors; accordingly, the trustee will provide the amount owing to a specific creditor upon their request if they still want to file a proof of claim. The proof of claim is a public document. Section 126(1) of the BIA states “Every creditor who has filed a proof of claim is entitled to see and examine the proofs of other creditors”.

Creditor or Employee Inquiries

For creditor or employee inquiries, please contact:

Sara Corcoran
Corporate Insolvency Administrator | Restructuring
T: 437.294.4650
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.