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Ira Smith Trustee & Receiver Inc. ("ISI") was
appointed, by Order of the Honourable Mr. Justice Cumming of the Ontario
Superior Court of Justice (Commercial List) dated February 6, 2009, as Monitor
of Korex Don Valley ULC ("Korex"). Korex has sought protection under the
COMPANIES' CREDITORS ARRANGEMENT ACT R.S.C. 1985 c.C - 36, as amended
("CCAA"), in order to provide it the opportunity to restructure its operations
and financial affairs.
All stakeholders should deal directly with management of
Korex on normal business affairs, as Korex's management continues to be
responsible for daily operations while attempting to restructure. All creditors
should also review the Monitor's letter to creditors dated February 11, 2009
below.
On August 10, 2009, the CCAA proceedings were
terminated, the Monitor was discharged, and the Court appointed a Receiver and
Manager over the Korex assets. On August 11, 2009, in response to Korex’s
filing an Assignment in Bankruptcy, the Superintendent of Bankruptcy appointed
S. Funtig & Associates Inc. as trustee in bankruptcy. Creditors are
directed to the bottom of this webpage to view a copy of the Certificate, and
for the link to the trustee in bankruptcy’s website.
CCAA
Court Matters
- Monitor Appointment and Initial Stay
Order- 06 February, 2009
- Order extending initial stay of
proceedings- 9 March, 2009
- First and Second Report
Approval Order - – 31 March, 2009
- Administration Charge Increase
Order- 17 April, 2009
- Approval Order
– 15 May, 2009
- Endorsement of Wilton-Siegel,
J. – 29 May, 2009
- Endorsement of Wilton-Siegel,
J. – 30 June, 2009
- Approval Order - Reports
6-8– 22 July, 2009
- Discharge Order– 10 August, 2009
Court Reports
- Proposed Monitor’s First Report to Court
– January 9, 2009
- Proposed Monitor’s First Supplementary Report
– January 22, 2009
- Proposed Monitor’s Second Supplementary Report – February 2, 2009
-
Monitor’s First Report to Court –
6 March, 2009
-
Monitor’s Second
Report to Court – 25 March, 2009
-
Monitor’s
Second Supplementary Report to Court – 28 March,
2009
- Monitor’s Third Report to Court –
27 April, 2009
- Monitor’s Fourth Report to Court – 29 April, 2009
- Monitor’s Fifth Report to Court –
11 May 2009
- Monitor's Sixth Report to Court - 27 May,
2009
- Monitor's Seventh Report to Court- 12 June,
2009
- Monitor's Eighth
Report to Court - Volume 1 - 22 June, 2009
- The Monitor has applied to the Court for an Order
sealing the Eighth Report, Volume 2 until further Order of the Court.
Accordingly, Volume 2 is not being posted on this wepage.
- Monitor's Eighth
Report to Court - Volume 3 - 25 June, 2009
- Monitor's Eighth Report to Court - Volume 4
- 20 July, 2009
- Monitor's Ninth Report to Court - 6 August,
2009
Korex Bankruptcy
Korex filed an Assignment in Bankruptcy and on August
11, 2009, the Superintendent of Bankruptcy appointed S. Funtig & Associates
Inc. as trustee in bankruptcy. The trustee in bankruptcy’s website is
http://www.funtig.com/
All documents are in
Acrobat/PDF format -
free reader available HERE.
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