February 24, 2022
Net Zero Renewable Energy Inc. (TSXV:NZRE), a Niagara Falls, Ontario-based producer of structural building systems, including its proprietary “ENERTEC” product line, was placed in receivership on February 24 on application by Horizon RE Limited ("Horizon"). Horizon holds all $3,000,000 of the company’s outstanding issued Series 1 Debentures and $500,000 of the company’s outstanding issued Series 2-1 Debentures. The Series 1 Debentures matured on March 4, 2018, and the Series 2-1 Debentures matured on July 3, 2017. Horizon has never received any payment on account of either the Series 1 Debentures or the Series 2-1 Debentures. Farber was appointed receiver. Counsel is Dentons for Horizon, Miller Thomson for Computershare Trust Company of Canada (the Indenture Trustee) and Aird & Berlis for certain other debenture holders.
By Dina Milivojevic