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Cover Industries Inc.
Introduction and Overview

NOTICE is hereby given that COVER INDUSTRIES INC. has filed on July 16, 2015 a Notice of Intention to Make a Proposal to its creditors, a copy of which is attached, and that we have consented to act as trustee.

On August 13, 2015, Cover Industries Inc., filed a petition for an extension of delay in accordance with the Section 50.4 paragraph 9 of the Bankruptcy and Insolvency Act. Said petition was granted, thereby having the effect of prolonging the delay in which to file the proposal by an additional forty-five (45) days, until September 27, 2015.

Notice is hereby given that, in the matter of the Notice of intention to make a proposal to the creditors of Cover Industries Inc. ( "Cover") that occurred on July 16, 2015 and of the nomination of Deloitte Restructuring Inc. as the proposal trustee on the same day (the "Trustee" or "Deloitte"), an Order establishing a Claims process was rendered on September 17, 2015 (the "Order"). The process will enable Cover to assess and evaluate the quantum of claims before the filing of a proposal. To that effect, the Court has ordered the Trustee to send a proof of claim form, which is enclosed herewith, to the known creditors of Cover. Any person who believed being entitled to a claim against Cover as of July 16, 2015 had to provide a duly completed proof of claim to the Trustee at the latest at 5 PM (Montreal time) on October 30, 2015 ("Claims Bar Date") via mail, courier, fax or email.

ANY CREDITOR WHO DID NOT FILE A PROOF OF CLAIM BY THE CLAIMS BAR DATE SHALL NOT BE ENTITLED TO ANY FURTHER NOTICE, SHALL NOT BE ENTITLED TO PARTICIPATE AS A CREDITOR IN THESE PROCEEDINGS, NOR TO ADVANCE A CLAIM AGAINST COVER OR TO RECEIVE A DISTRIBUTION UNDER THE PROPOSAL.

 On September 24, 2015, Cover Industries Inc., filed a petition for an extension of delay in accordance with the Section 50.4 paragraph 9 of the Bankruptcy and Insolvency Act. Said petition was granted, thereby having the effect of prolonging the delay in which to file the proposal by an additional forty-five (45) days, until November 11, 2015.

 On November 9, 2015, Cover Industries Inc., filed a petition for an extension of delay in accordance with the Section 50.4 paragraph 9 of the Bankruptcy and Insolvency Act. Said petition was granted, thereby having the effect of prolonging the delay in which to file the proposal by an additional forty-five (45) days, until December 23, 2015.

On December 14, 2015, Cover Industries Inc., filed a petition for an extension of delay in accordance with the Section 50.4 paragraph 9 of the Bankruptcy and Insolvency Act. Said petition was granted, thereby having the effect of prolonging the delay in which to file the proposal by an additional forty-five (45) days, until January 16, 2016.

On January 15, 2016, Cover Industries Inc., filed a proposal with Deloitte Restructuring Inc. under the Bankruptcy and Insolvency Act.

A general meeting of the creditors was held on February 3, 2016 at 9:00 a.m. at the office of the Superintendant of Bankruptcy, located at 1155 Metcalfe Street, Suite 1071, Montreal, Quebec.

At the February 3, 2016 meeting, it was unanimously resolved that the meeting to vote for the acceptance or the refusal of the proposal be further adjourned to March 9, 2016 at 9:00 a.m., at the office of the Superintendent of Bankruptcy located at 1155 Metcalfe Street, Room 1071 (Sun Life Building), Montreal, Quebec.

At the March 9, 2016 meeting, the proposal was accepted by the required majority of the creditors.   

A copy of the proposal, a condensed statement of the debtor's assets and liabilities, a trustee report of the insolvent person’s business and financial affairs, and a list of the creditors who sent their claims before October 30, 2015, are enclosed.

A List of accepted claims (or temporarily accepted for voting purpose) was published on January 26, 2016 as per the instructions included in the Order dated September 17, 2015 as part of the claims process.

An application was made to the Court on April 7, 2016, at 8:45 a.m., at room 16.10 of the Court House of Montréal to approve the proposal of Cover Industries Inc, and an Order was rendered by the Registrar, Me Chantal Flamand.

A copy of the Order on the Motion for the Approval of a Proposal , dated April 7, 2016, is enclosed.


Contact Information

General and creditor inquiries may be directed to:

Jean-Christophe Hamel, CPA, CA, CIRP, LIT
Phone: 514-393-6592
jehamel@deloitte.ca


Documents
1)  Court Orders

2)  Motion Materials

3)  Reports


Trustee Report on Cash Flow Statement and Cash Flow Statement  dated July 17, 2015
Trustee's Amended Report on the Sale of Certain Assets dated August 12, 2015
Trustee's First Report on the State of Affairs dated August 12, 2015  (French original version)
Trustee's Report on the Sale of Certain Assets dated August 25, 2015
Trustee's Second Report on the State of Affairs dated September 23, 2015 (French original version)
Trustee's Report on the Sale of Certain Assets dated October 7, 2015
Trustee's Report on the Sale of Certain Assets dated October 20, 2015
Trustee's Third Report on the State of Affairs dated November 10, 2015 (French original version)
Trustee's Fourth Report on the State of Affairs dated December 17, 2015 (French original version)



4)  Notices and Other Documents

5)  Service Lists

Please note that there are no documents presently in this section.
Please refer to this website periodically as new information and documents will be added as they are released.



6)  Relevant Links

Please note that there are no documents presently in this section.
Please refer to this website periodically as new information and documents will be added as they are released.



Last updated Dec 21, 2016

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