​​​​​​​​October 31, 2019, North American Fur Auctions Inc. and North American Fur Producers Inc., NAFA Properties Inc., NAFA Properties (US) Inc., 3306319 Nova Scotia Limited, NAFA Properties Stoughton LLC, North American Fur Auctions (US) Inc., NAFPRO LLC (Wisconsin LLC), NAFA Europe Co-Operatief UA, NAFA Europe B.V., Daikoku SP.Z OO, and NAFA Polska SP.Z OO (collectively, the "Applicants") commenced court-supervised restructuring proceedings under the Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the "CCAA").

On the same day, the Ontario Superior Court of Justice (Commercial List) (the "Court") granted an Initial Order (the "Initial Order"), which, among other things, provides for a stay of proceedings until November 29, 2019 (the "Stay Period"). On January 30, 2020, the Court granted an Order extending the Stay Period until and including April 3, 2020.

Also pursuant to the Initial Order, Deloitte Restructuring Inc. was appointed as monitor (the "Monitor") of the business and financial affairs of the Applicants.

NOTICE OF RECONVENED MEETING OF CREDITORS

On January 17, 2024, North American Fur Auctions Inc. and certain of its subsidiaries (collectively referred to as “NAFA") obtained an order of the Court (the “Meeting Order") that allows them to call and hold a meeting of creditors  (the “Meeting") to vote on a Plan of Arrangement dated January 11, 2024 (as may be amended from time to time, the “Plan") that the Applicants have filed with the Superior Court of Justice, Toronto Commercial List (the “Court")  pursuant to the Companies' Creditors Arrangement Act (the “CCAA").

The Meeting was originally called to order on February 21, 2024, but immediately adjourned by the Chair.

NOTICE IS HEREBY GIVEN that, pursuant to the terms of the Meeting Order, a Meeting of the Affected Creditors (as such term is defined in the Plan) will be reconvened on Wednesday, April 3, 2024 beginning at 11:00 a.m. (Toronto time), both in person and virtually by videoconference.  For those creditors wishing to attend in person, the Meeting will held at the office of Deloitte Restructuring Inc. located at 8 Adelaide Street West, Suite 200, Toronto, ON M5H 0A9.  The Monitor requests that it be notified by email by those creditors wishing to attend in person.  For those creditors wishing to attend the meeting virtually, you may do so by clicking the following URL and using the meeting ID and Passcode below:

https://millerthomson.zoom.us/j/98692329070?pwd=QzlXMEZBR09Zbko2UG55blRDa0hQQT09

Meeting ID: 986 9232 9070
Passcode: JNeV9K1m

The purpose of the Meeting it to consider and, if thought advisable by the Affected Creditors, to vote in favour of a resolution (the “Resolution") to approve the Plan and to transact such other business as may properly come before the Meeting or any adjournment thereof.

If the Plan is approved at the Meeting, a motion to sanction the Plan by the Court is currently scheduled on April 12, 2024 at 10:00 a.m. (Toronto time).  

Should you wish to contact the Monitor with any questions you may do so at 888-221-0622 or nafa@deloitte.ca.

CCAA Applicants

North American Fur Auctions Inc.
North American Fur Producers Inc.
NAFA Properties Inc.
NAFA Properties (US) Inc.
3306319 Nova Scotia Limited
NAFA Properties Stoughton LLC
North American Fur Auctions (US) Inc.
NAFPRO LLC (Wisconsin LLC)
NAFA Europe Co-Operatief UA
NAFA Europe B.V.

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

Deloitte Restructuring Inc.
Attention: In its capacity as Court Appointed Monitor of North American Fur Auctions Inc.
Bay Adelaide East
8 Adelaide Street West, Suite 200
Toronto, ON M5H 0A9

Persons requiring further information not available on the Website should email the Monitor at nafa@deloitte.ca or call the Monitor's toll free hotline at 1-888-221-0622.