C. I. F. Furniture Limited
C. I. F. Furniture Limited filed a Notice of Intention to Make a Proposal with the Official Receiver on Tuesday, April 21, 2009. A. Farber & Partners Inc. was appointed as Trustee in the Proposal.
On April 29, 2009, A. Farber & Partners Inc. was also appointed as Interim Receiver of C.I.F. Furniture Limited. By further Order of the Court dated May 15, 2009, the Interim Receiver was authorized to conduct a sale and marketing process in respect of the Company's current and future assets, undertakings and properties of every nature and kind whatsoever.
On June 26, 2009, by Order of Court, the sale of the assets of C.I.F. Furniture Limited to 2203668 Ontario Inc. was approved. The closing of the sale occurred on July 7, 2009. The Interim Receiver has been advised by 2203668 Ontario Inc. that it has hired the majority of employees of C.I.F. Furniture Limited and that operations will continue under the name of CIF Lab Casework Solutions.
C.I.F. Furniture Limited did not file a proposal by the deadline of July 6, 2009 and, accordingly, was deemed to have made an assignment in bankruptcy effective July 7, 2009.
All of the assets of C.I.F. Furniture Limited were encumbered in favour of the secured creditors, who suffered a significant shortfall as a result of the realization of the assets. Accordingly, no surplus funds are expected to be available for distribution to preferred or unsecured creditors.
Filing Certificates
Reports
- First Report of Proposal Trustee
- Second Report of Proposal Trustee
- First Report of the Interim Receiver
Orders
- Court Order Appointing Interim Receiver dated April 29, 2009
- Order of Justice Morawetz dated May 15, 2009 approving the sale process
- Endorsement of Justice Morawetz dated May 15, 2009
- Extension Order of Justice Morawetz dated May 15, 2009
- Handwritten Endorsement of Justice Morawetz re Extension dated May 15, 2009
- Endorsement of Justice Pepall dated June 26, 2009
- Unofficial Transcript of Endorsement dated June 26, 2009
- Approval and Vesting Order of Justice Pepall dated June 26, 2009






