​​​​​​​​​​​On January 3, 2024, on application of the Bank of Montreal (“BMO"), Deloitte Restructuring Inc. (“Deloitte") was appointed by Order of the Ontario Superior Court of Justice (the “Receivership Order"), as receiver and manager (the “Receiver") without security of the undertaking and personal property of Serendipity Media Ltd. (“Serendipity") listed at Schedule “B" to the Receivership Order, and all of the assets, undertakings and properties of the guarantor entities listed at Schedule “A" to the Receivership Order, acquired for, or used in relation to a business carried on by the Initial Debtors (the “Property"). 

On July 31, 2024, on the motions of the Receiver and the Bank of Hope (“BOH"), the Receivership Order was amended and restated (the “Amended Receivership Order") such that the Receiver has now been appointed as receiver and manager without security of:

• ​​​​​​​​​​​​​​​​​​​​​​​​​​​​the undertaking and personal property of Serendipity listed at Schedule “B" and Schedule “D" of the Amended Receivership Order; and

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• ​​​​​ ​​​​​​all of the assets, undertakings, and properties of:

• ​​​​​​​the entities (collectively, the “BMO Additional Debtors") listed at Schedule “A" of the Amended Receivership Order; and     

             

• the entities (collectively, the “BOH Debtors" together with Serendipity, and the BMO Additional Debtors, the “Debtors") listed at                  Schedule “C" of the Amended Receivership Order.
  

Bankruptcy Proceedings

On August 14, 2024, Serendipity made an assignment into Bankruptcy pursuant to section 49 of the Bankruptcy and Insolvency Act, RSC 1985,

 c B-3 (the “BIA"). Deloitte was appointed as Trustee of the Bankruptcy.

The First Meeting of Creditors will be held on September 4, 2024 at 10:30 AM (MST) through Microsoft Team teleconference. To be entitled to vote at the meeting you must file with us, prior to the meeting, a proof of claim form, and where necessary, a proxy.  Please contact James Doney at (403) 355-6846 or jdoney@deloitte.ca for teleconference information.

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

Deloitte Restructuring Inc.
8 Adelaide Street West, Suite 200
Toronto, ON, M5H 0A9

Attention: Naomi McGregor
Telephone: 403-503-1423
Email: naomcgregor@deloitte.ca​