On November 12, 2019, MCG Restaurants Ltd. (the "Company" or "MCG") filed a Notice of Intention to Make a Proposal (the "NOI") under section 50.4(1) of the Bankruptcy and Insolvency Act (the "BIA"). Deloitte Restructuring Inc. consented to act as Trustee under the NOI (the "Trustee"). MCG was granted an initial 30-day stay of proceedings pursuant to Section 69(1) of the BIA. An extension was granted by the Court on December 11, 2019, providing the Company an extension of time to make a proposal to January 24, 2020. An additional extension was granted by the Court on January 22, 2020 to March 9, 2020. An additional extension was granted by the Court on March 9, 2020 to April 23, 2020.
The Company failed to file a proposal with the Official Receiver prior to the Third Extension Deadline and the Company was deemed bankrupt on April 24, 2020 (the "Date of Bankruptcy") and Deloitte Restructuring Inc. (the "Trustee") was appointed Licensed Insolvency Trustee.
For further information, please contact:
Christopher Knox
Direct: 780-401-3913
Fax: 780-421-3782
Email: cknox@deloitte.ca
1. Notice of Intention Notice Package
2. Statement of Projected Cash Flow dated November 22, 2019
3. Trustee's Report on Cash Flow dated November 22, 2019
4. Report on Cash Flow dated November 22, 2019
5. Filed Application December 2, 2019
6. Filed Affidavit of Rob Morris December 2, 2019
7. Filed Bench Brief December 2, 2019
8. Filed First Report of Trustee December 2, 2019
9. Filed Extension Order Granted December 11, 2019
10. Filed Second Affidavit of Rob Morris January 13, 2020
11. Filed Application January 13, 2020
12. Service List Updated January 13, 2020
13. Second Report of the Proposal Trustee dated and filed January 13, 2020
14. Bench Brief of MCG Restaurants Ltd. filed January 14, 2020
15. Filed Extension Order Granted January 22, 2020
16. Filed Third Affidavit of Rob Morris March 2, 2020
17. Filed Application Returnable March 9, 2020
18. Filed Third Report of the Trustee March 2, 2020
19. Filed Extension Order Granted March 9, 2020
20. Unfiled Fourth Report of the Trustee March 20, 2020
21. Report of Trustee on Non-Filing of Proposal April 24, 2020
1. Notice to Creditors
2. Trustee's Preliminary Report to Creditors
3. Approval and Vesting Order August 10, 2020
Last updated Aug 11, 2020
