3550184 Canada Ltd. - Home fashion market place and 2031581 Ontario Ltd. - Furniture direct

  • Companies filed for Bankruptcy on April 27, 2007
  • Stan West is an operating name that is part of Home Fashion Market
  • All locations are closed

We hope to communicate information through this website as it becomes available to minimize your need to call our office.

UPDATE AS OF OCTOBER 4, 2007

To date, most of the assets for both companies have been sold. It does not appear there will be sufficient funds to pay any of the unsecured creditors. Receiver Reports pursuant to Section 246(2) of the Bankruptcy and Insolvency Act have been posted under each company tab to provide further details regarding the status of assets and liabilities.

UPDATE AS OF JULY 6, 2007 - SALE OF ASSETS

BDO Dunwoody Limited as Receiver /agent for the secured creditors sold all available inventory to Maynards Industries Ltd/MG Smith Inc. on June 27, 2007. They will be selling the inventory from all locations starting on July 13, 2007. BDO will be realizing on the remaining equipment and fixtures in the coming weeks.

Any customer tagged items in the warehouse (approximately 2,000 pieces) are set aside for customers to claim. You must file a property claim with BDO immediately to claim an item on the warehouse list. (Blank Property Form available under Customer section)

CUSTOMERS IDENTIFIED FOR PICKERING, MISSISSAUGA, LONDON

Someone will contact you in the next two-three days to arrange pick up. The pick up dates will start immediately.

WAREHOUSE CUSTOMERS

The liquidation company that has purchased the assets is organizing the release of customer merchandise (2000 pieces). BDO has provided them all of the completed paperwork received from customers to date. If you are included on the warehouse list, file your property proof of claim immediately with BDO to obtain the items. You will be contacted for pick up arrangements starting July 7.

EMPLOYEE PERSONAL ITEMS

You will be given access to the store for pick up of personal items starting in the next few days. Please watch the premises for activity and request access. Please have a list of what you believe to be picking up ready for review. You will be supervised and given limited time in the store/warehouse to recover your items.

DIRECTIONS FOR WAREHOUSE LOCATION

Highway 401 to Highway 24 North. Right lane veers off towards shopping centre - (sign shows Holiday Inn Dr /Groh Street) First light is Holiday Inn Drive. Turn right - Warehouse is #255 on left side.

IMPORTANT CREDITOR MEETING INFORMATION

Furniture Direct - 11:00 am
Home Fashion Market - 2:00 pm

We have posted the agenda and general instructions/directions/map. These can be found under each company tab marked "Creditor Meeting". IF you are planning to attend this meeting and have not already sent in your proof of claim, please bring the completed proof of claim form with you.

It is not mandatory for creditors to attend this meeting. If you don't attend, you will still be able to file a proof of claim past the date of this meeting. A copy of the minutes of this meeting will be posted.

IMPORTANT NOTICE TO CUSTOMERS

Other General Information (updated)

Notices of Bankruptcy and Proof of Claim packages were mailed Friday May 4th. This is in accordance to the Bankruptcy and Insolvency Act which states creditors must be notified within 5 business days.

On May 11, BDO posted the lists of furniture available for pick up at each store location. Pick up of those items will be arranged shortly. If you receive your furniture, you will not be a creditor and therefore not required to fill out a form. We are still completing the review of inventory in the warehouse as at May 25, 2007.

If you have a financing contract with HSBC you should contact them at 1-800-463-9506. If you receive a refund from HSBC or Visa or MasterCard, you are not a creditor and should not be filing any paperwork with BDO.

3550184 CANADA LTD. - HOME FASHION MARKET PLACE

3550184 CANADA LTD. - HOME FASHION MARKET PLACE has filed an assignment in Bankruptcy on April 27, 2007.

ll locations are closed. Customer Orders, Accounts Payable, and Accounts Receivable are being reviewed.

Notices to Creditors to be mailed week of April 30, 2007.

Please do not contact our offices. Further information will be communicated through this website starting week of April 30, 2007.

Documents - General

Customer Deposit List was taken from company records. The data may change as we review the inventory.

If your name is not on the list you will not be mailed a notice as a creditor of the company. Please go to the Proof of Claim document listed below and complete for mailing to the Trustee for amount of your deposit.

Documents - Employee

Documents - Creditor Meeting

2031581 ONTARIO LTD. - FURNITURE DIRECT

2031581 ONTARIO LTD. - FURNITURE DIRECT has filed an assignment in Bankruptcy on April 27, 2007.

All locations are closed. Customer Orders, Accounts Payable, and Accounts Receivable are being reviewed.

Notices to Creditors to be mailed week of April 30, 2007.

Please do not contact our offices. Further information will be communicated through this website starting week of April 30, 2007.

Documents - General

Customer Deposit List was taken from company records. The data may change as we review the inventory.

If your name is not on the list you will not be mailed a notice as a creditor of the company. Please go to the Proof of Claim document listed below and complete for mailing to the Trustee for amount of your deposit.

Documents - Employee

Documents - Creditor Meeting

FAQ

Will I receive furniture that is in the store marked sold to me?

We are reviewing lists and paperwork to identify these items. If the bill of sale is done and clearly identifies the unit on the floor, we will be calling you. You will need to pay any balance owing. You will need to arrange for pick up/delivery of your item.

What happens to my deposit?

The Trustee cannot return any deposits paid. If the furniture is not at the warehouse or store location, the Trustee will not be ordering the item to complete your purchase. You can complete a proof of claim for the amount paid. (See Creditor Claims) It will be an unsecured claim in the bankruptcy.

What if I have an item that needs repair or warranty claim?

The Trustee will not be repairing any items or able to provide service.

Since the beginning of May, we have had further discussions with the manufactures. It is our understanding that they have identified other retailers or contact points to handle these issues for Furniture Direct and Home Fashion Market customers. BDO does not have details of the alternate locations. You should be contacting the manufacturer regarding repairs or warranty claims.

As Trustee, we apologize for this inconvenience, however we will not be completing repair or warranty work.

Creditor Claims

Notices were mailed on May 4th, 2007 to any party owed money. Creditors may prove the claim for the amount owing at any time before or after the creditor meeting May 28th. For customer deposits, no claim should be filed if you receive a refund from VISA, MasterCard, AMEX or HSBC. No claim should be filed if you receive your item from BDO.

When will we know how much money we will get?

The creditor meeting will be on May 28th at Bingaman Park. The time for Furniture Direct meeting is 11AM. The time for Home Fashion Market meeting is 2PM . The Trustee will have some comment at that time. This website will be updated as to the status of creditor payments during the coming months. At this time, we cannot indicate what money, if any, will be paid to unsecured creditors.

Can I get my furniture directly from the manufacturer?

We recommend that you wait until we review all furniture in the locations. We may have your item. See the website updates for this information going forward. We hope to have available customer items concluded by May 31, 2007

I am not on the list showing customer deposits or payments.

A list was posted on April 30, 2007. It was confirmed by a company representative to be wrong on May 2. A new list was posted on May 3rd.

What if I owe HSBC for the amount of my purchase but I did not receive the furniture?

HSBC is aware of the situation. Please call their service department at 1-800-463-9506.

I am an employee owed wages and vacation pay.

You will be mailed a notice and should file a claim for the amount due. We cannot confirm when the amount will be paid. Your claim amount for wages due in past 6 months and not paid will be a preferred claim to a maximum of $2,000. These are paid before the general unsecured creditors but after priority creditors such as secured and certain government amounts. Any amounts due to you exceeding the $2,000 limit will be an unsecured amount.

The Trustee in working to complete Records of Employment and T4’s as soon as possible.

I am an employee with personal items still at the store/warehouse.

We will confirm as soon as possible on this website, a date in June when you can attend the locations to recover personal items. Employees will be allowed in two at a time, accompanied by a BDO representative who will remain with you at all times. We expect that items being claimed will be from your workspace or kitchen related and obviously personal in nature.

If you are claiming anything else as yours, (ie. tools, furniture), BDO will require a list and proof that you purchased or own the items.

I have filed my proof of claim but still don't see my name on the customer list.

Thank you for filing your proof of claim. If it was complete, it will become a valid claim in the bankruptcy. The Trustee will only contact you if there is a problem or if/when there is money to be paid out to the customer/creditors. The customer list on the website is a copy of what was printed from company records thus will not be updated for claims as they are received by BDO.

What happens to my Credit Note or Gift Certificate?

You can file a proof of claim for this amount. It is an unsecured claim. There is no priority for this amount nor does the Trustee have the funds to return to you. At this time, it is doubtful that any amount will be paid on these claims at the conclusion of this bankruptcy.

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