June 11, 2021
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.