Cococo Chocolatiers Inc

Cococo Chocolatiers Inc., a Calgary, Alberta-based manufacturer and retailer of artisanal chocolates, was placed in receivership on August 18 on application by Panterra Mortgage & Financial Corporation ("Panterra"), owed approximately $10.7 million. Despite Panterra's demand for repayment, the company has not paid and continues to fail to pay its indebtedness. The court also approved a sales process for the company's assets and approved Panterra's credit bid, which will serve as a stalking horse bid in the sales process. Deloitte was appointed receiver. Counsel is Dentons for Panterra and Torys for the receiver.