Please be advised that British Bazaar Company Limited and British Confectionery Company Limited (collectively "British") have filed a Notice of Intention to Make a Proposal (the "NOI Filing") under subsection 50.4(1) of the Bankruptcy and Insolvency Act ("BIA") on November 5, 2018 (the "Effective Date"). Deloitte Restructuring Inc. ("Deloitte") was appointed as the Licensed Insolvency Trustee (the "Trustee") under the NOI Filing.
Subsequent to the NOI Filing, on May 1, 2019, British sought and obtained from the Supreme Court of Newfoundland and Labrador (the "Court") an initial order (the "Initial Order") under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA"). Deloitte Restructuring Inc. was appointed by the Court as the Monitor in these CCAA proceedings (the "Monitor").
Please be advised that the Initial Order granted by the Court stays all proceedings against British until and including May 27, 2019 (or as may be extended by the Court). As this proceeding was converted from a prior proceeding under Part III, Division I of the Bankruptcy and Insolvency Act ("BIA"), British may pay all reasonable expenses incurred in carrying on the business in the ordinary course following November 5, 2018 (the "NOI Date"). All amounts incurred prior to the NOI Date remain stayed by the Initial Order.
Furthermore, on May 27, 2019, the Court granted British’s request for a further extension of the stay of proceedings as outlined under the Initial Order up to and including July 10, 2019.
Please be advised that on July 11, 2019 at 12:01AM Newfoundland Standard Time, the stay of proceedings pursuant to the CCAA proceedings discussed above was lifted restoring the rights of all creditors.
On July 26, 2019 PricewaterhouseCoopers Inc. was appointed Receiver over the assets of British by the Court.
On August 2, 2019, the Court issued an order (the "Discharge Order") discharging Deloitte from its duties as Monitor.
General and creditor inquiries may be directed to:Kurt MacLeod, MBAManager902-721-5602 kmacleod@deloitte.ca
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 Feb 13, 2021
