Brunswick Health Group et al., CCAA

Brunswick Health Group et al., Pointe-Claire, Quebec-based companies which operate a full-service medical centre, had their NOI proceedings continued under the CCAA on January 10, on application by TD and BDC, owed approximately $18.5 million and $21.7 million respectively.

The companies initially filed an NOI in July 2023 after suffering significant operating losses for the past three years due to policies implemented during the COVID-19 pandemic, poor governance practices, high turnover, as well as an inadequate administrative and information technology structure.

An RVO transaction was approved in November as part of the NOI proceedings, but has not yet closed despite the fact that the purchase agreement provided for an outside closing date of November 23, 2023.

Raymond Chabot is the monitor.

Counsel is McCarthys for the companies, Kaufman Lawyers for TD, BLG for BDC, and Stein & Stein for certain physicians.

By: Dina Milivojevic