Overview
On June 5, 2024, Cloud Diagnostics Canada ULC (the “Company”) filed a Notice of Intention to Make a Proposal (“NOI”) pursuant to subsection 50.4(1) of the Bankruptcy and Insolvency Act R.S.C., 1985, c. B-3 (“BIA”) and Crowe MacKay & Company consented to act as Licensed Insolvency Trustee under the Proposal (the “Trustee”).
On or around November 19, 2024, the Trustee obtained an Order from the Court that granted, among other things, the following:
- approved a reverse vesting order, which vested certain liabilities of the Company into 16538363 Canada Ltd. (“ResidualCo”);
- granted the directors of the Company the ability to file an assignment in bankruptcy on behalf of ResidualCo; and
- provided for the discharge of the Company from the NOI proceedings upon completion of the sale.
Please be advised, that on January 21, 2025, ResidualCo filed an assignment in bankruptcy.
Please note, the First Meeting of Creditors is scheduled for February 10, 2025 at 2PM (Pacific), For further information, or to obtain an invitation to the meeting, please contact Ms. Sarah Sabbagh at [email protected].
Creditors Information