March 9, 2018
Gemma Communications, Gemma GP Corp and Akron Insurance, the wholly owned subsidiaries of Dealnet (TSX-V:DLS), a Toronto, Ontario-based consumer finance company, filed for bankruptcy on March 9 to allow for an orderly, court supervised wind-up of the businesses. Since Dealnet acquired the companies in September 2015, they have incurred ongoing and significant operating losses. PwC is the bankruptcy trustee. Counsel is Aird & Berlis for the trustee and Gardiner Roberts for the companies.