980 Marketing Inc.
Last updated: December 15, 2009
The purpose of this website address is to provide information to any interested persons regarding the bankruptcy of the Company.
On December 14, 2009, 980 Marketing Inc. (the "Company") filed an assignment in bankruptcy and A. Farber & Partners Inc. was appointed as Trustee.
The First Meeting of Creditors will be held on January 4, 2010 at 2:00 p.m. at the Trustee’s office, 150 York Street, Suite 1600, Toronto, Ontario. To be entitled to vote at the meeting, a creditor must lodge with the Trustee, before the meeting, a proof of claim and, where necessary, a proxy. Creditors must prove their claims against the estate of the bankrupt in order to share in any distribution of the proceeds realized from the estate. The secured creditor is foreclosing on the assets so there will not be any funds for the unsecured creditors.
Information for Employees of 980 Marketing Inc.
Employees formerly employed by the Company may have entitlements under Section 81.4 of the BIA and the Wage Earner Protection Program Act ("WEPPA"). Section 81.4 of the BIA provides that an employee has a priority position for wages, salary, commissions and accrued vacation pay amounts earned but unpaid during the six months leading up to the insolvency event (six months prior to December 14, 2009) to a maximum of $3,031.94.
All former employees have (or will have) received their unpaid wages to December 11, 2009.
Under WEPPA, the eligible amount can include termination and severance in certain situations. Please visit www.hrsdc.gc.ca/eng/labour/employment_standards/wepp/about.shtml for more information about WEPPA.
The Trustee is co-ordinating the collection of information with the Company and will be providing affected employees with details of amounts owed under Section 81.4 and WEPPA shortly.
For further information please contact Jules Grunwald at 416-496-3735.
