Contech Enterprises Inc. ("Contech" or the "Company") filed a proposal to its creditors under Part III, Division I of the Bankruptcy and Insolvency Act ("BIA") with Deloitte Restructuring Inc. on December 23, 2014. Pursuant to Section 69 of the BIA, all proceedings against Contech were stayed as of that date. Documents with regards to these Proposal proceedings will be posted to this website.
On December 23, 2014 the following documents were mailed to known creditors:
Additional documents in connection with this proceeding include:
January 13, 2015 - The meeting of creditors to consider Contech's Proposal to Affected Creditors was held on January 8, 2015. At the meeting, the Proposal was accepted by proven Affected Creditors voting in person and by voting letter. On January 13, 2015, the Trustee gave notice to all Affected Creditors of the hearing of the application for Court approval of the Proposal on January 15, 2015, at the earliest (the "Hearing Date"). The Trustee noted that the Hearing Date remains subject to change and recommended that creditors check this website for updated information regarding the Hearing Date. Posted to this website are the following documents:
January 14, 2015 - The Hearing Date has been confirmed to be January 15, 2015 at 10am in the Supreme Court of British Columbia (the “Court”). Applications will be made on the Hearing Date for the approval of the Proposal and to determine VegHerb, LLC’s (“VegHerb”) claim that it holds a licensing agreement with the Company regarding the licensing of certain intellectual property (“IP”). Posted to this website are the following documents:
January 15, 2015 – The Court has adjourned the Hearing Date until January 20, 2015 at 10am regarding the applications for the approval of the Proposal and to determine VegHerb’s claim that it holds a licensing agreement with the Company regarding the licensing of certain IP. Posted to this website are the following documents:
January 20, 2015 – VegHerb has made a Notice of Application to Court on January 20, 2015, requesting the Court to approve the reclassification of its secured claim to an unsecured claim. Posted to the website are the following documents:
January 27, 2015 – On January 27, 2015, the following orders were made by the Court approving the Proposal and authorizing the Company to take all necessary steps to cause the registration of patents and trademarks regarding the licensing of certain IP. Posted to this website are the following documents:
January 29, 2015 – On January 29, 2015, VegHerb filed a Notice of Appeal (the “Appeal”) appealing the Court Orders pronounced on January 26, 2015 and entered on January 27, 2015. Posted to the website is the following document:
February 5, 2015 – On February 4, 2015, Contech filed a Notice of Motion in response to VegHerb’s Appeal. The Hearing of the Appeal has been scheduled for February 19, 2015. Posted to this website are the following documents:
February 13, 2015 – On February 11, 2015 and February 13, 2015, VegHerb and Contech, respectively, filed their factum with the Court regarding the Appeal Hearing set for February 19, 2015. Posted to this website are the following documents:
March 9, 2015 – On March 6, 2015, the Court issued the Reasons for Judgment on the Appeal. The Court set aside the Chamber Judge’s approval of the Proposal and therefore, the Proposal was not approved by the Court. As a result, Contech has been deemed assigned into bankruptcy on March 6, 2015. Posted to this website are the following documents:
On March 13, 2015, the following documents were mailed to known creditors
March 18, 2015 – HSBC Bank Canada (“HSBC”) has made a Notice of Application to Court on March 17, 2015 requesting the Court approve Deloitte Restructuring Inc. to be the Court appointed Receiver Manager of Contech. Posted to the website are the following documents:
On March 19, 2015, the following documents were mailed to known creditors:
March 23, 2015 – On March 20, 2015, the Court issued an Order appointing Deloitte Restructuring Inc. as Court appointed Receiver Manager of Contech. Posted to the website are the following documents:
On March 26, 2015, the Trustee's appointment was affirmed by the creditors at the first meeting of creditors. The following document was tabled at the meeting:
April 27, 2015 – The Receiver filed a Notice of Application on April 24, 2015 (the "Application"). The Application seeks approval of a Purchase and Sale Agreement ("PSA") between Scotts Canada Ltd. ("Scotts") and the Receiver dated April 15, 2015 and an order vesting title in the Purchased Assets (as defined in the PSA) in Scotts. On April 24, 2015, the Receiver sought and obtained an Order setting the hearing of the Application for Wednesday, April 29, 2015 and authorising the Receiver to serve the Application and the First Report by email and by posting the materials to this website. Please see the following documents with respect to the Application:
April 29, 2015 - On April 29, 2015, the Court issued an Order approving the PSA between Scotts and the Receiver dated April 15, 2014 and an order vesting title in the Purchased Assets (as defined in the PSA) in Scotts upon closing.
Posted to the website are the following documents:
May 16, 2015 - The Receiver filed a Notice of Application on May 15, 2015 (the "Application"). The Application seeks approval of a Purchase and Sale Agreement between VegHerb LLC ("VegHerb") and the Receiver dated May 12, 2015 with respect to certain inventory and accounts receivable ("Inventory PSA"), a Purchase and Sale Agreement between VegHerb LLC ("VegHerb") and the Receiver dated May 12, 2015 with respect to certain intellectual property ("IP PSA") and an order vesting title in the Purchased Assets (as defined in the Inventory and IP PSA) in VegHerb. The Receiver also seeks approval to pay the net proceeds from the Scotts Sales as indicated on the Application. On May 15, 2015, the Receiver sought and obtained a Requisition setting the hearing of the Application for Tuesday, May 19, 2015 at 945am and authorizing the Receiver to serve the Application and the Second Report by email. Please see the following documents with respect to the Application:
May 19, 2015 – On May 19, 2015, the Court issued an Order approving the Inventory and IP PSA between VegHerb and the Receiver dated May 12, 2015, and an Order vesting title in the Purchased Assets (as defined in the Inventory and IP PSA) in VegHerb upon closing. The Court also issued an Order authorizing an interim distribution to HSBC, BDC and First West Credit Union from the net proceeds from the Scotts Sales.
July 14, 2015 - The Receiver filed a Notice of Application on July 14, 2015 (the "Application"). The Application seeks approval to perform a final distribution to certain of the secured creditors as indicated on the Application and approval of the fees and disbursements of the Receiver and its counsel. On July 14, 2015, the Receiver sought and obtained an Order authorising the Receiver to serve the Application and the Third Report by email and by posting the materials to this website. Please see the following documents with respect to the Application:
July 24, 2015 – On July 24, 2015, the Receiver sought and obtained a Requisition adjourning generally the hearing set for July 28, 2015. The hearing had been previously requested by the Receiver in its Notice of Application filed on July 14, 2015. Please see the following documents with respect to the Requisition:
On January 21, 2016, certain secured creditors sought and obtained an order pursuant to Section 38 of the Bankruptcy and Insolvency Act. This order authorizes those creditors to continue and prosecute proceedings in their own name, at their own expense and risk to disallow the Proof of Claim filed by VegHerb LLC and/or recover damages from VegHerb LLC. Please see the following document with respect to the Order:
February 12, 2016 - The Receiver filed a Notice of Application on February 12, 2016 (the "Application"). The Application seeks approval to perform a final distribution to certain of the secured creditors as indicated on the Application, approval of the fees and disbursements of the Receiver and its legal counsel and the distribution of funds to the bankruptcy estate to fund the fees of the Proposal Trustee and the Trustee in Bankruptcy and the discharge of the Receiver. Please see the following documents with respect to the Application:
February 25, 2016 – On February 25, 2016, the Court issued an Order approving the following:
July 4, 2016 – On July 4, 2016, the Court issued an Order approving the discharge of the Receiver. In addition, the Trustee under the Proposal and Bankruptcy obtained its discharge on June 21, 2016. Please see the following document with respect to the Receiver's discharge:
General and creditor inquiries may be directed to Dominic Davis:Deloitte Restructuring Inc.2800 - 1055 Dunsmuir St.Vancouver BC V7X 1P4
Telephone: 604-640-4905
Fax: 604-602-1583
Email: domindavis@deloitte.ca
Last updated Jan 14, 2021
