Generous Space Ministries, a Mississauga, Ontario-based non-profit LGBTQ+ Christian ministry, filed for bankruptcy on July 15. Albert Gelman is the bankruptcy trustee.
Solo GI Nutrition Inc., a Kelowna, BC-based producer of low glycemic energy bars and snacks, filed for bankruptcy on July 13, listing approximately $44.3 thousand in assets and $1.8 million in liabilities, including $541 thousand to RBC and $261.9 thousand to Economic Trust Southern Interior ("ETSI"). The company incurred net operating losses for the years ending June 2019 and June 2020. During the COVID-19 pandemic, the company's manufacturer ceased operating, which further exacerbated the company's existing financial problems. In February, RBC and ETSI each issued demand letters to the company. MNP is the bankruptcy trustee.
International Fitness Holdings Inc., International Fitness Holdings LP, and World Health North LP, which operated 21 fitness clubs and CrossFit studios in Calgary and Edmonton, were deemed bankrupt on July 8. The companies had previously filed NOIs to, among other things, effect the sale of their assets to Ayrfit West Inc. and certain related parties, as purchasers, following a strategic process run by MNP. The sale closed on June 18 and the companies were deemed bankrupt on July 8 after the extension period expired and no proposal was filed. KPMG is the bankruptcy trustee. Counsel is Osler for KPMG and BLG for the purchaser.
Russell Hill Investments Limited, a Concord, Ontario-based company that was incorporated to purchase and develop three residential properties located on Russell Hill Road in Toronto (the "Russell Hill Properties"), filed for bankruptcy on June 30, listing approximately $14.9 thousand in assets and $4.2 million in liabilities, including $2 million to Alexandria Bancorp Limited and $2.1 million to Shetfield Management Ltd. After the Russell Hill Properties were sold in 2014 for approximately $10.5 million, with the proceeds used to repay the first mortgage to BMO, the company paid $1.5 million to purchase another property in Toronto for the purpose of rental income and re-development. It was sold in March 2020 for $2.4 million, with the proceeds used to pay the first mortgage to BMO. Currently, there are not sufficient funds from the transactions to repay two of the unsecured lenders in full. Link & Associates is the bankrtupcy trustee.
ADG Architectural Design Group Inc., a Markham, Ontario-based architectural firm specializing in design, building programming, and urban design, filed for bankruptcy on June 28, listing approximately $145.4 thousand in liabilities, including $34 thousand to CRA. The company attributes its financial difficulties primarily to operational inefficiencies coupled with financial stress related to the COVID-19 pandemic. MNP is the bankruptcy trustee.
Bel-Habitat Inc. and Bel-Habitat 2 Inc., Laval, Quebec-based construction companies, filed for bankruptcy on June 28, respectively listing $26.0 million and $14.7 million in liabilities. Bel-Habitat Inc. owes $1.5 million to the Bank of Canada and Bel-Habitat 2 Inc. owes $5 million to Gestion Yves Carbonneau et fils Inc. and $5 million to Stratégie S.I.M.A Inc. Raymond Chabot is the bankruptcy trustee.
Ryding Regency Meat Packers, a Toronto, Ontario-based meat processing company, filed for bankruptcy on June 15, listing approximately $5.2 million in assets and $10.4 million in liabilities, including $7.4 million to Tri-Pet Holdings Incorporated. In 2019, the company closed after the Canadian Food Inspection Agency ("CFIA") revoked its processing licence due to ongoing food safety concerns. On June 10, 2021, the CFIA laid charges against the company for various alleged offences of the Safe Food for Canadians Act and the Food and Drugs Act. Schwartz Levitsky Feldman is the bankruptcy trustee.
Team Syntegrity Americas Inc., a Toronto, Ontario-based provider of business consultancy services, filed for bankruptcy on June 11, listing approximately $15.7 million in liabilities, including approximately $14.6 million to RTI International ("RTI"), a North Carolina-based leading non-profit research institute, and RTI Syntegrity ("RTIS"). In June 2016, the company was acquired by RTI, which subsequently incorporated RTIS to be the direct owner of 100% of the company's shares as part of the acquisition. Since this acquisition, RTI has funded the company's sustained losses. In May, however, RTI notified the company's board of directors that it would cease funding the company at the end of the month. KPMG is the bankruptcy trustee. Torys is counsel for KPMG.
The Estate of Paul Zigomanis (the "Estate") was placed into bankruptcy on June 10 by Farber, the estate trustee during litigation, for the general benefit of creditors. In April 2015, Paul Zigomanis was killed as a result of an explosion that destroyed the home in which he was living. The estate is insolvent and the bankruptcy filing was initiated in order to conduct a claims process and facilitate a distribution to creditors. Farber is the bankruptcy trustee.
Datawind Inc. (aka Jeotex Corporation and aka Jeotex Inc. ("Jeotex")), a Mississauga, Ontario-based developer and manufacturer of low-cost tablet computers and smartphones, was adjudged bankrupt on June 10 on application by Greenwoods GRM LLP ("Greenwood"), a UK-based judgment creditor of the company. In 2017, Greenwood commenced a claim against Jeotex for unpaid legal fees and the UK High Court granted judgment in favour of Greenwood (the "Judgment"). In 2018, Greenwood enforced the Judgment in Ontario, which Jeotex unsuccessfully attempted to appeal. In 2019, Greenwood then filed a bankruptcy application against Jeotex in the Ontario Superior Court of Justice. At the time the application was filed, Jeotex had ceased making rent payments to its landlord in Quebec and was ordered by the Court to remedy its default or face eviction. Jeotex failed to abide by the Court order and was subsequently evicted from the property. Despite obtaining several Court orders within the UK and Ontario, Greenwood has been unable to collect on the Judgment for the past four years. Greenwood has also continued to incur costs unnecessarily due to Jeotex's attempts to litigate matters that, in Greenwood's view, had no merit or chance of success. In order to protect the interest of creditors, Greenwood sought a bankruptcy order to allow for the equitable distribution of Jeotex's assets and its subsidiaries in the UK, India, and the United States. Albert Gelman Inc. is the bankruptcy trustee. Counsel is Macdonald Sager Manis for Greenwood and Page Martin for the company.