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.
Pursuant to subsection 50.4(8) of the BIA, the initial stay period under the NOI proceeding is from June 5, 2024 to July 5, 2024 unless the period is extended by the Court upon application by the Company. During this period, the Trustee will monitor the business of the Company and assist the Company in preparing its Proposal.
On or around June 14, 2024, the Company made an application to Court to approve, among other things, the granting of an extension of the stay of proceedings and the deadline for the filing of a proposal to July 29, 2022, an administration charge, and the approval of interim financing and the related interim financing charge. An order was granted by the Court on June 14, 2024.
On or around June 18, 2024, the Company made an application to Court to approve the proposed sale and investment solicitation process (the “SISP”) of the business and/or assets of the Company. An Order was granted by the Court on June 21, 2024.
Creditor Information:
Creditor’s Package dated June 6, 2024
Court Pleadings:
Notice of Application made June 10, 2024
Notice of Application made June 18, 2024
Notice of Application made June 26, 2024
Proposal Trustee’s Reports