On March 5, 2024, Organic Garage (Canada) Ltd. (“Organic Garage") and its subsidiaries 2412383 Ontario Inc., 2347018 Ontario Inc., 2507158 Ontario Inc., and 2581751 Ontario Inc. (collectively, the "Subsidiaries" and together with Organic Garage, the "Debtors") filed a Notice of Intention to Make a Proposal ("NOI") under subsection 50.4(1) of the Bankruptcy and Insolvency Act (the "BIA"). KPMG Inc. ("KPMG") consented to act as trustee under the proposal.
Bankruptcy
On May 18, 2024, Organic Garage (Canada) Ltd., 2412383 Ontario Inc., 2347018 Ontario Inc., 2507158 Ontario Inc., and 2581751 Ontario Inc. were each deemed to have made an assignment in bankruptcy pursuant to section 50.4(8)(a) of the BIA as each of the debtors failed to file a proposal within the prescribed time period. KPMG was appointed as the trustee-in-bankruptcy (the “Trustee”) of the Estate of each of the Bankrupts by the Official Receiver, subject to affirmation by the creditors of Trustee’s appointment or substitution of another Trustee by the creditors.
The First Meeting of Creditors of Organic Garage (Canada) Ltd., 2412383 Ontario Inc., 2347018 Ontario Inc., 2507158 Ontario Inc., and 2581751 Ontario Inc. will be held by video/teleconference on the 6th day of June, 2024 at 10:00 AM Eastern Time. Conferencing details will be made available upon request.
Contact
organic@kpmg.ca
Toll free within North America:
1-833-668-2860
Local Phone Number:
416-468-7269
