June 22, 2020
Modasuite Inc. a Montreal, Quebec-based business doing business as Frank and Oak, filed an NOI on June 22, 2020, listing approximately $19.0 million in liabilities, including approximately 6.0 million to Desjardins. Founded in 2012, the company operates primarily as an online clothing retailer, though it also operates 22 retail locations across Canada. While under creditor protection, the company will run a sales and investment solicitation process, led by Stifel Nicolaus Canada Inc. KPMG is the proposal trustee. Counsel is Osler for the company, Norton Rose Fulbright for the proposal trustee and McCarthy Tétrault for Desjardins.