October 10, 2018
Vacances Sinorama, a Montreal, Quebec-based tour agency that sells bus tours and low-cost tours of Asian countries, filed for bankruptcy on October 12, listing approximately $13.5MM in liabilities. In July, PwC was appointed as provisional administrator over the business in a decision rendered by the Office de la protection du consommateur ("OPC"). The OPC took this initiative following the company's failure to comply with the requirements of the Travel Agents Act in connection with the the way it handled clients' payments. PwC was tasked with, among other things, arranging travel for customers and administering a claims process. Groupe Serpone was appointed bankruptcy trustee.