July 17, 2020
Wire IE (Canada) Inc., a Mississauga, Ontario-based company in the business of building and managing data and telecommunications networks for underserved markets, filed an NOI on July 17, listing approximately $55.0 million in liabilities, including $9.7 million to Crown Capital. Currently, the company is overleveraged and cannot support the existing secured and unsecured debt. In an attempt to maintain its business as a going concern, the company has negotiated a Stalking Horse Agreement with a purchase price of approximately $9.5 million. Farber is the proposal trustee. Counsel is Chaitons for the company, Aird & Berlis for the proposal trustee, and Cassels for Crown Capital.