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Composites Innovation Centre Manitoba Inc.
Introduction and Overview

​Composites Innovation Centre Manitoba Inc. ("CIC") is a not-for-profit engineering firm that provided design, analysis, testing, and fabrication services to the manufacturing industry, with its head office located in Winnipeg, Manitoba.  On April 14, 2020, CIC filed an assignment in bankruptcy, and Deloitte Restructuring Inc. (“Deloitte”) was appointed as the Licensed Insolvency Trustee (the " Bankruptcy Trustee"), and the Bankruptcy Trustee's appointment was affirmed at the first meeting of creditors held on May 5, 2020.

On May 26, 2020, CIC filed a proposal (the "Proposal") with the Bankruptcy Trustee, and Deloitte was requested to act in the capacity as proposal trustee (the "Proposal Trustee").  The meeting of creditors to consider the Proposal (the "Proposal Meeting") was held on June 15, 2020 at 11:00 AM CDT.  At the Proposal Meeting, the Proposal was approved by the requisite majority in number and 2/3 in value of the proven creditors voting on the Proposal who attended in person via telephone, by proxy, or who voted in advance by voting letter. 

On July 6, 2020 (the "Hearing Date"), the Manitoba Court of Queen's Bench (the "Court") an Order approving the Proposal.

Pursuant to the terms of the Proposal, immediately following the Hearing Date, the Proposal Trustee gave notice to all parties of which the Proposal Trustee had notice or knowledge but who had not filed a proof of claim form in the Proposal proceedings, advising that if such parties do not prove their claims within thirty (30) days after sending of the notice, being on or before August 7, 2020 (the "Claims Bar Date"), the Proposal Trustee will proceed to declare future or final dividends without regard to those parties' claims.

In order to be eligible for a dividend distribution, creditors must submit a proof of claim form (with supporting documentation) in the Proposal proceedings which must be received by the Proposal Trustee prior to the Claims Bar Date if they have not already done so. 

For clarity, proofs of claim submitted in CIC's bankruptcy proceedings are NOT eligible for a dividend in the Proposal proceedings.  Creditors must file a Proposal proof of claim form to be eligible for a dividend distribution in the Proposal proceedings regardless of whether they have submitted a proof of claim in CIC's bankruptcy.

A copy of the proof of claim form can be downloaded from the Documents section below.


Contact Information

If you have any questions regarding this matter, please contact Deloitte at the following address:


Deloitte Restructuring Inc. 
360 Main Street, Suite 2300
Winnipeg, MB  R3C 3Z3
Canada

Attention: Todd Dew

 

Telephone: (204)926-8937
Fax: (204)947-2689
Email: tdew@deloitte.ca


Documents
1)  Court Orders


2)  Motion Materials


3)  Trustee's Reports


4)  Notice to Creditors and Statutory Documents

5)  Service Lists


6)  Proposal Documents

Last updated Jul 13, 2020

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