On November 9th, 2018, Gestion Maison Éthier Inc. filed a notice of intention to make a proposal pursuant to Section 50.4 (1) of the Bankruptcy and Insolvency Act (the « BIA ») and KPMG inc. (“KPMG”) has consented to act as Trustee under the proposal.
On November 15, 2018, the Commercial Division of the Quebec Superior Court of the District of Montreal (the “Court”) has issued an order (the “Initial Order”) pursuant the Companies’ Creditors Arrangement Act (“CCAA”). This order provides a stay of proceedings against Gestion Maison Éthier Inc. and Gestion Immobilière Maison Éthier Inc. (“The Companies“) until December 14, 2018.
Pursuant to the Initial Order, KPMG was appointed Monitor of the Companies therefore, the proposal proceedings commenced by Gestion Maison Éthier Inc. under the BIA are hereby continued under the CCAA.
On December 11, 2019, Gestion Maison Éthier Inc. and Gestion Immobilière Maison Éthier Inc. (“The Companies“) filed an assignment and KPMG Inc., was appointed as trustee of the estates of the Companies, as stipulated on the Certificates of Appointment.
