iS5 Communications Inc.

iS5 Communications Inc., a Mississauga, Ontario-based company that provides customers with information technology services and proprietary hardware products – specifically servicing critical infrastructure, including the energy, transportation, heavy industrial, and defense industries – filed an NOI on August 5, listing approximately $15 million in liabilities, including $1.9 million USD to Silicon Valley Bank. The company plans to undertake a stalking horse sale process and is working toward a stalking horse agreement during the NOI period. Grant Thornton is the proposal trustee. Counsel is Fasken for the company, Aird & Berlis for Silicon Valley Bank, TGF for the stalking horse purchaser, and Cozen O’Connor for the proposal trustee. By Dina Milivojevic

Applewood Marketplace Inc.

Applewood Marketplace Inc., the owner and developer of a real estate development project known as the Applewood Project, located in London Ontario, was placed in receivership on August 3, on application by MarshallZehr Group Inc., owed approximately $58 million pursuant to four credit facilities. Part of the property was being developed as apartment buildings with commercial space on the ground floor, which were expected to be completed by year-end but for the company's financial difficulties. This phase of the Project is approximately 75% complete, and the company ceased its construction operations at the site on June 1. In contravention of the credit facilities, 46 construction liens have been registered on the property in the aggregate amount of over $8 million. To date, the company has not taken any steps to vacate the liens. In addition, the company failed to pay monthly interest on three of the four credit facilities and to repay three of the four credit facilities on their maturity dates. EY was appointed receiver. Counsel is Miller Thomson for MarshallZehr and Siskinds for the company. By Dina Milivojevic

12337240 Canada Inc. c.o.b. Minfu Kitchen Cabinets

12337240 Canada Inc. c.o.b. Minfu Kitchen Cabinets, based out of Newmarket, Ontario, filed an assignment in bankruptcy on July 27, listing approximately $312,000 in liabilities. The company manufactured custom cabinet products for residential and commercial projects and provided general renovation services for kitchens. The business was largely dependent on imports from China, and shipping delays along with the substantial increase in shipping costs during and after the COVID-19 pandemic adversely affected the viability of the business. In addition, a significant supplier based in China had COVID-19 restrictions placed on it by the government, resulting in the supplier ceasing operations, further aggravating the procurement issues. Goldhar & Associates is the bankruptcy trustee. By Dina Milivojevic

2735447 Ontario Inc. (known as Rosehill) and certain other entities

2735447 Ontario Inc. (known as Rosehill) and certain other entities were placed in receivership on July 8, on application by Rose-Isli Corp. and others. The parties were were developing a residential condominium project in Woodbridge, Ontario known as "The Rosehill Project" as a joint venture, before the relationship between them broke down. The applicants and the respondents agreed that the Rosehill Project should be sold, and that the sale process should be undertaken by a court-appointed officer. EY was appointed receiver. Counsel is Reconstruct for the receiver; Tyr for the applicants; Dickinson Wright for the respondents and Bennett Jones for Trez Capital Limited Partnership. By Dina Milivojevic

MPX International Corporation (“MPXI”) and various subsidiaries

MPX International Corporation (“MPXI”) and various subsidiaries, 23 entities registered in Canada, Lesotho, South Africa, Switzerland, Malta, Thailand, Australia and the United Kingdom, were granted CCAA protection on July 25. The companies’ principal business is cannabis production, resale, management consulting for cannabis companies and cannabis education. The companies have struggled with cash flow, and since March 31, 2022, their cash position has deteriorated significantly, with cash on hand at the time of the filing being approximately $170,000. MPXI has struggled to meet its liabilities to its debenture holders, having failed to make interest payments on March 31, 2021, September 30, 2021, December 31, 2021, and March 31, 2022. KSV was appointed monitor. Counsel is Bennett Jones for the companies, Aird & Berlis for the monitor, and Dentons for the DIP lenders/certain debenture holders. By Dina Milivojevic

Victory Nickel Inc

Victory Nickel Inc., an exploration and development mineral resources company primarily engaged in the acquisition, exploration, evaluation and development of nickel projects and associated products in Canada, was deemed to be bankrupt on July 26. On April 14, the company filed a proposal to restructure its debt under the BIA. A meeting of the Company's creditors was convened on May 5 and adjourned the same day to address concerns raised by the company's single largest unsecured creditor holding approximately 78% of the unsecured claims. The creditors' meeting was reconvened on July 26 proposal was not approved by the requisite majority of creditors. As a result, the company was automatically deemed to be bankrupt. The creditors appointed Farber as bankruptcy trustee. Cynthia Thomas, officer and director of the company and its subsidiaries, and Michael Anderson, director of the company have tendered their resignations. By Dina Milivojevic

Main Infrastructure Ltd., Kstone Investment Corporation and 2666492 Ontario Ltd.

Main Infrastructure Ltd., Kstone Investment Corporation and 2666492 Ontario Ltd., Vaughan, Ontario-based construction companies, were placed in receivership on July 21, on application by RBC. RBC holds judgments against the companies and their principal totaling an aggregate of $1,203,337.25 plus accruing interest and costs on a substantial indemnity scale. The judgments also provide for possession of the personal property of the companies pursuant to the GSA held by RBC. Main Infrastructure and Kstone have continued to operate, but Main Infrastructure has accumulated HST arrears in excess of $860,000.00. Grant Thornton was appointed receiver. Counsel is Flett Beccario for RBC and RAR Litigation for the companies. By Dina Milivojevic

Links of London (Canada) Limited

Links of London (Canada) Limited, a Toronto, Ontario-based jewelry retailer that carried on business under the trade name Links of London, filed an NOI on July 20, 2022. Links of London depended on its parent company in the UK and on its affiliate in the US for inventory, bookkeeping and other operational support. In November of 2019, the insolvency proceedings and subsequent liquidation of Links of London’s parent and affiliate companies forced the company to commence the liquidation of its own inventory. The liquidation was completed by the end of January, 2020, by which time it had vacated the premises of the five retail locations it formerly occupied in Canada. The company intends to file a proposal to provide for a structured, coordinated and transparent wind-down, and to address the claims of creditors in an orderly fashion. Alvarez & Marsal is the proposal trustee. Counsel is Blakes for the company and Aird & Berlis for the proposal trustee By Dina Milivojevic

2796996 Ontario Inc.

2796996 Ontario Inc., which owns and operated an Esso gas-bar and convenience store in Grimsby, Ontario, was placed in interim receivership on July 25, on application by Roynat, owed approximately $4 million. On July 15, Roynat discovered that the company had abandoned and was no longer operating the gas station and convenience store, necessitating the appointment of msi Spergel (GRIP) as interim receiver. Counsel is Lipman, Zener & Waxman for Roynat and Fogler Rubinoff for Macewen Petroleum. By Dina Milivojevic

Trebor RX Corp.

Trebor RX Corp., a PPE manufacturer with production facilities in Collingwood, Ontario and Edmonton, Alberta, was placed in receivership on July 15, on application by RBC. The company unsuccessfully opposed the application on the basis of, among other things, a potential transaction with the State Project Development Commission of Ghana. Fuller Landau was appointed receiver. Counsel is Aird & Berlis for RBC and Scott Petrie for the company. By Dina Milivojevic