​​​​​​​​​​​​​On November 27, 2023, Anderson Square Holdings Ltd. (the "Company") filed a Notice of Intention to Make a Proposal (the "NOI") pursuant to section 50.4 of the Bankruptcy and Insolvency Act (the "BIA") and Deloitte Restructuring Inc. has consented to act as the Licensed Insolvency Trustee (the "Trustee") under the NOI.  As provided in section 69(1) of the Act, the Company was granted an initial 30-day stay of proceedings. 

On December 22, 2023, the Court granted an Order extending the stay of proceedings and time for filing of a proposal by the Company to February 10, 2024. ​

On February 7, 2024, the Court granted an Order which further extended​ the stay of proceedings and time for filing of a proposal by the Company to March​ 26, 2024.

On March 25, 2024, the Court granted an Order further​ extending the stay of proceedings and time for filing of a proposal by the Company to May​ 10, 2024.

On May 10, 2024, the Company filed a Proposal to its Creditors, with additional materials provided below. On May 31, 2024, a First Meeting of Creditors was held to consider the Proposal, and the proposal was amended (the "Amended Proposal"). The Amended Proposal was deemed approved by the required majority of the Company's creditors in number holding 3/4 of the value of the proven claims who were entitled to vote.

On June 3, 2024, the Amended Proposal was filed with the Office of the Superintendent of Bankruptcy.

On June 19, 2024, the Proposal Trustee filed the Report of Proposal Trustee on Proposal (the “Proposal Report to Court"). The Proposal Report to Court was filed in support of the Proposal Trustee's application to Court on July 3, 2024  for an order to approve the Amended Proposal (the “Court Approval Application"). The Court Approval Application was adjourned generally due to a shareholder dispute as outlined in the Supplemental Report to the Proposal Report to Court filed October 24, 2204 (the “First Supplemental Report").

The Court Approval Application was rescheduled to December 18, 2024 (the “First Adjourned Court Approval Application"). The First Adjourned Approval Application was rescheduled to January 14, 2025 (the “Second Adjourned Court Approval Application"). The Second Adjourned Court Approval Application was adjourned generally and has been rescheduled to September 3, 2025 (the “Third Adjourned Court Application").

For further information, please contact Kaleb Butt of the Receiver's office at kbutt@deloitte.ca.