En Route 24/7 Logistics Inc.

Overview

On May 25, 2023, En Route 24/7 Logistics Inc. (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 May 25, 2023 to June 24, 2022 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 June 16, 2023 the Company made an application to Court to approve the granting of an extension of the stay of proceedings and the deadline for the filing of a proposal to August 8, 2023. The hearing is scheduled for June 21, 2023 at 9:45AM in Vancouver, in person. The extension was approved by the Court at a hearing held on June 21, 2023. The extension was approved by the Court.

On July 28, 2023, the Company made an application to Court to approve a further extension in the stay of proceedings and deadline for the filing of a proposal to September 22, 2023. The hearing is scheduled for August 2, 2023 at 9:45AM in Vancouver, in person. Copies of the pleadings are below. The extension was approved by the Court.

On September 15, 2023, the Company made an application to Court to approve a further extension in the stay of proceedings and deadline for the filing of a proposal to November 6, 2023. The hearing is scheduled for September 20, 2023 at 9:45AM in Vancouver, in person. Copies of the pleadings are below. The extension was approved by the Court.

On or around November 6, 2023, the Company filed a Proposal to its creditors pursuant to the BIA. The Meeting of Creditors to consider the Proposal was held on November 24, 2023 at 12:00PM PST via video conference call. Copies of the Proposal Creditor Package dated November 26, 2023 are below.

At the First Meeting of Creditors on November 24, 2023, the meeting was adjourned by way of creditor resolution for the purposes of allowing the Company to file an amended proposal. On or around December 6, 2023, the Company filed an Amended Proposal to its creditors pursuant to the BIA. A copy of the Amended Proposal is available below.

The First Meeting of Creditors was reconvened on January 15, 2024. The Amended Proposal was accepted by the requisite majority of creditors (as required in the BIA) at the First Meeting of Creditors.

On January 22, 2024, the Proposal Trustee submitted its Report to Court on the Company’s Proposal. On or around the same day, the Proposal Trustee made an application to Court to among other things, implement and complete the Proposal. The hearing was scheduled for February 6, 2024. A copy of the Report to Court on the Company’s Proposal and the Notice of Application are below.

On or around February 20, 2024, the Registrar in Bankruptcy granted an Order to, among other things, authorize and direct the Proposal Trustee, Company and the directors of the Company to take all actions and steps necessary or appropriate to implement and complete the Amended Proposal. A copy of the Order is below.