1973862 Ontario Inc. (fka Kroeger Inc.)

On February 28, 2025, 1973862 Ontario Inc. (fka Kroeger Inc.) (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 Companies’ NOI proceedings (in such capacity, the “Proposal Trustee”).

The NOI filing provides for a stay of proceedings against the Company, pursuant to s. 69(1) of the BIA, subject to certain limitations, while the Company formulates a restructuring plan and attempts to develop a viable proposal for its creditors.

On March 10, 2025 the Ontario Superior Court of Justice (Commercial List) issued an order extending the time for the Company to file a proposal pursuant to section 50.4(9) of the BIA, the time for the Company to file a proposal with the official receiver, including the stay of proceedings, is hereby extended up to and including May 14, 2025.

On May 2, 2025 the Ontario Superior Court of Justice (Commercial List) issued an order (a) approving the sale of substantially all of the assets of the Company; and (b) extending the time for the Company to file a proposal pursuant to section 50.4(9) of the BIA, the time for the Company to file a proposal with the official receiver, including the stay of proceedings, is hereby extended up to and including May 23, 2025.

On May 23, 2025, the Company was deemed bankrupt in accordance with s. 50.4(8) of the BIA when no Proposal or extension to file a Proposal was filed with the Official Receiver before the previously provided deadline date of May 23, 2025.

Relevant documents can be found below.

Creditor Meeting

The First Meeting of Creditors in the bankruptcy proceedings will be held via ZOOM Videoconference on Friday, June 13, 2025 at 10:00AM (EDT). To join the meeting, please use the below access details:

ZOOM LINK
Meeting ID: 979 2601 7882
Passcode: 232800
Phone: +12042727920 (Canada)

Please note that any and all creditors wishing to participate in a voting capacity at the meeting are required to lodge a proof of claim with respective proxy with the Trustee no later than June 13, 2025 at 9:00AM (EDT).

Creditor Inquiries

For creditor 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.