Datatax Business Services Limited, NOI

Datatax Business Services Limited, a company which provides bookkeeping, income tax and consulting services through its subsidiaries, filed an NOI on August 14, 2023. Datatax and its subsidiaries have maintained a persistently negative cash flow business and have been unable to develop positive cash flow or an actionable refinancing or sale transaction outside of an insolvency proceeding. Datatax entered into a stalking horse APA prior to filing the NOI, which will serve as the stalking horse bid in the NOI proceedings. KPMG is the Proposal Trustee, represented by Bennett Jones. Counsel are:

• Tyr for Datatax;

• Stikeman Elliott for Fiera Private Debt Fund VI L.P.;

• TGF for Fiera FP Business Financing Fund, L.P.;

• Aird & Berlis and Siskinds for 2872802 Ontario Inc. (the stalking horse bidder) and Steven Ibbotson;

• Dentons for BMO;

• Margie Strub Construction Law and BLG for Western Surety Company; and

• Chaitons for KSV.

By: Dina Milivojevic