On November 9, 2023, the Ontario Superior Court of Justice (Commercial List) (the "Court") issued an order (the "Initial Order") pursuant to the Companies' Creditors Arrangement Act ("CCAA"). The Initial Order provided for certain relief, including a stay of proceedings against Crown Crest Financial Corp., Simply Green Home Services Inc., Simply Green Home Services Corp., Crown Crest Capital Management Corp., Crown Crest Funding Corp., and Crown Crest Capital Trust (collectively, the “Crown Crest Leasing Group”) and ordered that KPMG Inc. be appointed as Court-appointed monitor of the Applicants (in such capacity, the “Monitor”).
On May 23, 2025, HCSI Home Comfort Inc. (“HCSI 1”) and HCSI Home Comfort 2 Inc. (“HCSI 2”) each individually filed a Notice of Intention to Make a Proposal pursuant to section 50.4(1) of the Bankruptcy and Insolvency Act. KPMG was named as trustee (“Proposal Trustee”) for HCSI 1 and HCSI 2. KPMG, in its capacities as Proposal Trustee and Monitor of the Crown Crest Leasing Group, sought approval of the continuation of the NOI proceedings under the CCAA and consolidated them with the CCAA proceedings of the Crown Crest Leasing Group. On June 2, 2025, the order to consolidate the NOI proceedings under the CCAA proceedings of the Crown Crest Leasing Group was approved and subsequently the NOI proceedings of HCSI 1 and HCSI 2 were terminated and the Proposal Trustee was discharged.
