August 5, 2022
iS5 Communications Inc., a Mississauga, Ontario-based company that provides customers with information technology services and proprietary hardware products – specifically servicing critical infrastructure, including the energy, transportation, heavy industrial, and defense industries – filed an NOI on August 5, listing approximately $15 million in liabilities, including $1.9 million USD to Silicon Valley Bank. The company plans to undertake a stalking horse sale process and is working toward a stalking horse agreement during the NOI period. Grant Thornton is the proposal trustee. Counsel is Fasken for the company, Aird & Berlis for Silicon Valley Bank, TGF for the stalking horse purchaser, and Cozen O’Connor for the proposal trustee.
By Dina Milivojevic