Commerx Corporation

NOTICE OF INTENTION TO MAKE A PROPOSAL PROCEEDING

On March 7, 2019, Commerx Corporation (the “Company”) filed a Notice of Intention to Make a Proposal (the “NOI”) pursuant to the Bankruptcy and Insolvency Act (the “BIA”). Hardie & Kelly Inc. has been appointed as the trustee in respect of the proposal proceedings (the “Proposal Trustee”).

S. 69(1) of the BIA provides the Company certain relief including the imposition of an initial 30-day Stay of Proceedings (the “Stay”) against the Company and its assets. Claims against the Company for payment of goods and services supplied to the Company prior to March 7, 2019 are suspended and creditors are prohibited from continuing or commencing any actions or exercising any rights against the Company except with leave of the Court of Queen’s Bench of Alberta (the “Court”). 

The NOI and related documents can be found below in the Initial Notification to Creditors package.

PROPOSAL

At the meeting of creditors held on September 6, 2019, the statutory majority of creditors approved Commerx’s proposal as amended (the “Amended Proposal”). A copy of the Amended Proposal can be found below. An application has been scheduled for 2:00 p.m. on October 11, 2019 at the Calgary Courts Centre to seek the Court’s approval of the Amended Proposal.

A copy of the original proposal, Proof of Claim form, Voting Letter and the Proposal Trustee’s Report on the Proposal are included in the Creditor Package found below.

STATUS UPDATE AS AT NOVEMBER 19, 2019

On October 11, 2019, the application to approve the Amended Proposal was adjourned to 2:00 p.m. on November 15, 2019 at the Calgary Courts Centre in conjunction with the determination of the Appeal of the Notice of Disallowance issued in respect of the claim of Fortitude Financial Investments Inc.

On November 15, 2019, the Court dismissed Fortitude Financial Investments Inc.’s appeal of the Notice of Disallowance and approved the Amended Proposal.

Court Filings

Proposal Trustee’s Reports

Court Orders

Contact Us

Contact for the Proposal Trustee – Marc Kelly at 403-536-8510.

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