Introduction
On February 16, 2016, the Attorney General of Canada filed an application before the Commercial List of the Ontario Superior Court of Justice (the “Court”) in respect of Maple Bank GmbH Canada Branch (“Maple Bank”) pursuant to the Winding-up and Restructuring Act, R.S.C 1985, c. W-11, as amended ("WURA").
The Court made an order (the "Winding-up Order") on February 16, 2016 and appointed KPMG Inc. as liquidator, in respect of the winding up of Maple Bank and of the assets, as defined in section 618 of the Bank Act, S.C. 1991, c.46, as amended, (the “Bank Act”) of Maple Bank.
Asset Realization
As part of the Marketing Process Order approved on April 5, 2016, the Liquidator has realized on substantially all of the assets of Maple Bank. Between June 21, 2016 and November 15, 2016, the Liquidator completed several transactions for Maple Branch’s assets, which were approved by the Court. Details of these transactions are described in the Liquidator’s Fourth through Eighth Reports.
Claims Process
On June 8, 2016, the Court issued an order (the “Claims Procedure Order”) approving a claims process (the “Claims Process”). For copies of all documents related to the Claims Process, please see below.
On January 27, 2017, the Court issued the Principal Officers Additional Claims Order, which approved the Principal Officers Claims Procedure. Claimants that believe they have a Principal Officers Claim are required to file a Principal Officers Proof of Claim with the Liquidator by 4:00 P.M (Eastern Time) on FEBRUARY 28, 2017. The Principal Officers Proof of Claim form can be downloaded below.
