Coverage of the latest Canadian insolvency filings, court cases, news and more

Gemini Corporation (TSX-V: GKX)

Gemini Corporation (TSXV: GKX), a Calgary, Alberta-based professional services firm that provides multi-disciplined engineering, field and environmental services for energy and industrial facilities, was placed in receivership on April 19 on application by ATB Financial. FTI Consulting was appointed receiver. Counsel is Burnet, Duckworth & Palmer for the applicant and DLA Piper for the company.

Wicker Emporium

Wicker Emporium, a Halifax, Nova Scotia-based importer and retailer of solid wood furniture and home decor, filed for protection under the CCAA on April 18, listing over $5.0MM in liabilities, including $865.0M to Accord Financial. The founder, Madan Kapahi, opened the first Wicker Emporium in 1972 to so that he could share treasures from his home country of India with his new friends in Nova Scotia. The company now operates 23 “brick-and-mortar” stores in Atlantic Canada and Ontario, as well as an online store. Due to changes in sale patterns in different locations, however, the company has experienced a recent decrease in profits from sales, particularly at stores located in more rural areas. As a result, the company has experienced difficulty in paying its suppliers, many of which are furniture manufacturers based in Asia. MNP was appointed monitor. Burchells is counsel to the company.

Agriculture Technology Inc and several related companies

Agriculture Technology Inc and several related companies (ATI), Ontario’s largest agricultural waste recycler, based in Cottom, Ontario, was placed in receivership on April 18 on application by BMO, owed approximately $15.0MM. Since 1998, ATI has offered a specialized process by which customers’ agriculture waste is converted into saleable end products including reusable grow media and repurposed plastic products. MNP was appointed receiver. Counsel is Chaitons for the applicant and Miller Thomson for the receiver.

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Doug Hoyes on competing in the personal bankruptcy space

To the general public who see him on TV business news, Doug Hoyes is the serious guy in a suit that is always warning Canadians to get their spending under control. But helping consumers manage their debt has become Doug’s passion — a passion that has translated into a very successful personal bankruptcy practice. Doug sits down with us and shares how he built his practice and what he does to succeed in the ultra-competitive personal bankruptcy space.

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