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On October 31, 2022 Digitcom filed a Notice of Intention which kicked off insolvency proceedings through the Ontario courts. [6] The ensuing process of attracting and choosing a bidder for the bulk of Digitcom's assets lasted into late February of 2023. On February 23, 2023 justice J. Kimmel approved the sale of Digitcom's assets to Comwave. [7]
It had retail outlets in Vancouver, Burnaby, Coquitlam, Richmond and Langley, British Columbia, as well as Markham, Mississauga, Scarborough, Toronto and Ottawa, Ontario. At one point, NCIX had 3 shipping facilities, one in Richmond, British Columbia, another in Markham, Ontario, and one in City of Industry, California. By July 17, 2017, NCIX ...
The Bankruptcy and Insolvency Act (BIA; French: Loi sur la faillite et l'insolvabilité) is one of the statutes that regulates the law on bankruptcy and insolvency in Canada. It governs bankruptcies, consumer and commercial proposals, and receiverships in Canada.
The Parliament of Canada has exclusive jurisdiction to regulate matters relating to bankruptcy and insolvency, by virtue of Section 91(2) of the Constitution Act, 1867. It has passed the following statutes as a result: The Bankruptcy and Insolvency Act ("BIA") [1] The Companies' Creditors Arrangements Act ("CCAA") [2] The Farm Debt Mediation ...
For the purposes of the BIA, it is important to be able to distinguish between legal definition of "insolvent person" and one of "bankrupt".Generally, an insolvent person is one who cannot pay his or her debts and may subsequently become bankrupt, either by assigning himself into bankruptcy, being petitioned into bankruptcy by the creditors, or being deemed to assign himself into bankruptcy by ...
In 1999, the Superior Court of Justice was renamed from the Ontario Court (General Division). The Superior Court is one of two divisions of the Court of Ontario. The other division is the lower court, the Ontario Court of Justice. [1] The Superior Court has three specialized branches: Divisional Court, Small Claims Court, and Family Court.