Ira Smith Trustee & Receiver Inc. ("ISI") was appointed, by Order of the Honourable Mr. Justice Cumming of the Ontario Superior Court of Justice (Commercial List) dated February 6, 2009, as Monitor of Korex Don Valley ULC ("Korex"). Korex has sought protection under the COMPANIES' CREDITORS ARRANGEMENT ACT R.S.C. 1985 c.C - 36, as amended ("CCAA"), in order to provide it the opportunity to restructure its operations and financial affairs.
All stakeholders should deal directly with management of Korex on normal business affairs, as Korex's management continues to be responsible for daily operations while attempting to restructure. All creditors should also review the Monitor's letter to creditors dated February 11, 2009 below.
On August 10, 2009, the CCAA proceedings were terminated, the Monitor was discharged, and the Court appointed a Receiver and Manager over the Korex assets. On August 11, 2009, in response to Korexs filing an Assignment in Bankruptcy, the Superintendent of Bankruptcy appointed S. Funtig & Associates Inc. as trustee in bankruptcy. Creditors are directed to the bottom of this webpage to view a copy of the Certificate, and for the link to the trustee in bankruptcys website.
- Letter to Creditors - 11 February, 2009
- Monitor Appointment and Initial Stay Order- 06 February, 2009
- Order extending initial stay of proceedings- 9 March, 2009
- First and Second Report Approval Order - 31 March, 2009
- Administration Charge Increase Order- 17 April, 2009
- Approval Order 15 May, 2009
- Endorsement of Wilton-Siegel, J. 29 May, 2009
- Endorsement of Wilton-Siegel, J. 30 June, 2009
- Approval Order - Reports 6-8 22 July, 2009
- Discharge Order 10 August, 2009
- Proposed Monitors First Report to Court January 9, 2009
- Proposed Monitors First Supplementary Report January 22, 2009
- Proposed Monitors Second Supplementary Report February 2, 2009
- Monitors First Report to Court 6 March, 2009
- Monitors Second Report to Court 25 March, 2009
- Monitors Second Supplementary Report to Court 28 March, 2009
- Monitors Third Report to Court 27 April, 2009
- Monitors Fourth Report to Court 29 April, 2009
- Monitors Fifth Report to Court 11 May 2009
- Monitor's Sixth Report to Court - 27 May, 2009
- Monitor's Seventh Report to Court- 12 June, 2009
- Monitor's Eighth Report to Court - Volume 1 - 22 June, 2009
- The Monitor has applied to the Court for an Order sealing the Eighth Report, Volume 2 until further Order of the Court. Accordingly, Volume 2 is not being posted on this wepage.
- Monitor's Eighth Report to Court - Volume 3 - 25 June, 2009
- Monitor's Eighth Report to Court - Volume 4 - 20 July, 2009
- Monitor's Ninth Report to Court - 6 August, 2009
Korex filed an Assignment in Bankruptcy and on August 11, 2009, the Superintendent of Bankruptcy appointed S. Funtig & Associates Inc. as trustee in bankruptcy. The trustee in bankruptcys website is http://www.funtig.com/
- Korex Bankruptcy Certificate 11 August, 2009