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Pursuant to an ex parte motion by HarbourEdge Mortgage Corporation, and a bankruptcy application made against William Player, the Fuller Landau Group Inc. was originally appointed interim receiver pursuant to section 46(1) of the Bankruptcy and Insolvency Act of certain assets, undertakings, interests and properties by the Order of the Honourable Justice Conway on February 22, 2018.
On April 4, 2018 William Player filed a notice of intention to make a proposal pursuant to subsection 50.4(1) of the Bankruptcy and Insolvency Act. Morgan and Partners Inc. was appointed as the licensed insolvency trustee acting as the proposal trustee.
The order was subsequently amended by Honourable Justice Hainey on April 6, 2018 appointing Fuller Landau Group Inc. as interim receiver without security, of the asset, undertakings, interests and properties of William Player. The amended interim receivership order included a priority charge for the fees and disbursements of the interim receiver and counsel backdated to March 19, 2018 and onward.
An order to extend the time for William Player to make a proposal to his creditors pursuant to Part III of the Bankruptcy and Insolvency Act to May 8, 2018 was ordered by Honourable Master Jean on May 3, 2018. On May 8, 2018, Honourable Master Jean ordered a further extension for William Player to make a proposal to his creditors to June 18, 2018.
On June 19, 2018, William Player filed a proposal. The subsequent creditors meeting was held on July 9, 2018. At the meeting the proposal was accepted pending certain amendments which included Larry Dunn and the interim receiver being appointed inspectors.
On November 5, 2018 the proposal trustee reported to the Official Receiver and Superintendent of Bankruptcy a material adverse change pursuant to subsection 50.4(7)(b)(i) of the Bankruptcy and Insolvency Act advising that William Player would be unable to make payments on the amended proposal as directed by the inspectors on October 10, 2018 and agreed to at the second meeting of creditors by a straw vote on October 24, 2018 due to the fact that a third party would not be providing funding.
William Player filed a notice of bankruptcy and of impending automatic discharge of bankrupt on November 6, 2018 with Morgan and Partners Inc. appointed as trustee of the estate of the bankrupt pursuant to the summary administration provisions of the Bankruptcy and Insolvency Act.
On December 18, 2018 a creditor, Mark Abbott, served amended court materials which amendments sought the substitution of the bankruptcy trustee based on allegations against Morgan and Partners Inc. and personally against the bankruptcy trustee.
BDO Canada Limited provided consent to act as bankruptcy trustee on December 18, 2018. On January 8, 2019, the Honourable Justice Penny of the Superior Court of Justice removed Morgan and Partners Inc. as trustee in the bankrupt estate of William Player, and was replaced by BDO Canada Limited (“Trustee”).
BDO Canada Limited
300 Lakeshore Drive, Suite 202
Barrie, Ontario, Canada