On September 25, 2025, Scarsin Corporation ("Scarsin") filed a Notice of Intention to Make a Proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act (the "BIA"). KPMG Inc. ("KPMG") consented to act as trustee under the proposal.
The deadline for Scarsin to file a proposal is October 25, 2025, subject to any extensions(s) that may be granted by the Ontario Superior Court of Justice.
On October 24th, 2025, pursuant to the NOI filing, Scarsin filed a Proposal under Part III, Division I of the BIA.
The meeting of creditors was held on November 10, 2025, at 11:00 a.m. EST via the Microsoft Teams platform. The Proposal was accepted by the required majority of creditors as identified in the Proposal.
