Bankruptcy Proceedings

On November 26, 2015, the Court of Queen’s Bench of Alberta (the “Court”) issued a Bankruptcy Order adjudging SR Cash Remit Inc. (the “Company”) a bankrupt.  Hardie & Kelly Inc. was appointed as Trustee of the bankrupt estate (the “Trustee”).

• Affidavit of E. Liao – October 13, 2015 
• Originating Application for Bankruptcy Order – October 19, 2015
• Bankruptcy Order – November 26, 2015

Contact person for the Trustee –  Marc Kelly – 403-536-8510 or mkelly@insolvency.net

First Meeting of Creditors

The first meeting of creditors was held at 10:00 a.m. on January 14, 2016.  Notice of the meeting of creditors, a preliminary Statement of Affairs, proof of claim form and form of proxy are included in the creditor package below.

• Creditor Package

S.38 Action

As the Trustee is without sufficient funds, Family Express Canada Ltd. (“Family Express”), a significant creditor of the Company, made application to the Court seeking an Order allowing Family Express to pursue legal action to attempt to recover assets pursuant to Section 38. of the Bankruptcy and Insolvency Act.  All creditors will have the right to participate; however, creditors will be required to share in the costs of litigation on a pro rata basis without certainty of recovery and must respond to the legal counsel of Family Express on a timely basis in order to be eligible to participate.  A copy of the correspondence from Family Express’s legal counsel to creditors can be found below.  Please note that creditors must take positive steps in order to participate in the proceedings. 

• Letter from Billington Barristers to Creditors – July 19, 2016
• Section 38 Order – August 2, 2016
• Letter from Billington Barristers to Creditors – August 3, 2016

Court Documents

• Application re: Compelling Order – February 5, 2016