Appointment of a Receiver pursuant to section 243 of the Bankruptcy and Insolvency Act (the "BIA")
On July 18th, 2017, the Quebec Superior Court (the "Court") issued an order appointing KPMG inc. (“KPMG”) as Receiver to the property of Ronor International inc. (the "Debtor") pursuant to subsections 243(1) of the BIA.
Filing of a Notice of Intention to file a proposal pursuant to Section 50.4 (1) of the BIA
On July 19th, 2017, the Debtor filed a notice of intention to file a proposal (the “NOI”) pursuant to Section 50.4 (1) of the BIA and KPMG has consented to act as Trustee under the proposal.
The NOI provides a stay of proceedings against the Debtor until August 19th, 2017.
On August 19th 2017, the Debtor have become bankrupt due to the non-filing of the proposal and KPMG Inc. was appointed Trustee of the Estate of the Debtor.
