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Kate & Mac Clothing Company Inc.
Bankruptcy Proceedings
On October 22, 2018, Kate & Mac was deemed bankrupt as a result of its failure to file a proposal by October 21, 2018, as discussed below. Hardie & Kelly Inc. (the “Trustee”) was appointed as Trustee of the bankrupt estate, as affirmed at the first meeting of creditors held at 10:00 a.m. on Thursday, November 8, 2018.
Contact person for the Trustee – Charla Smith – 403-536-8506 or csmith@insolvency.net
A copy of the Statement of Affairs, proof of claim form and form of proxy are included in the creditor package below.
Agency Appointment
On October 22, 2018, Hardie & Kelly Inc. (the “Agent”) was appointed as Agent for ATB Financial in respect of its security over the assets of Kate & Mac.
Notice of Intention to Make a Proposal
On May 9, 2018, Kate & Mac Clothing Company Inc. (the “Company” or “Kate & Mac”) filed a Notice of Intention to Make a Proposal (the “NOI”). Hardie & Kelly Inc. has been appointed as Trustee under the proposal (the “Proposal Trustee”).
S. 69(1) of the Bankruptcy & Insolvency Act (the “Act”) provides the Company certain relief including the imposition of a Stay of Proceedings (the “Stay”) against the Company and its assets. Claims against the Company for payment of goods and services supplied to Kate & Mac prior to May 9, 2018 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 Creditor Notification package.
On July 16, 2018, the Court of Queen’s Bench of Alberta granted Kate & Mac an extension of the time to file its proposal to September 6, 2018.
On September 5, 2018, the Company applied for and received an Order granting a further extension of the time to file its proposal to October 21, 2018.
On October 10, 2018, the Proposal Trustee issued a Notice of Material Adverse Change, a copy of which can be found under Proposal Trustee Reports below.
Court applications and filed materials
June 7, 2018 Application (Initial stay extension)
- Initial Stay Application, filed May 29, 2018
- Affidavit of Mathew Bruneau, filed May 29 2018
- Extension Order filed June 8
July 16, 2018 Application (Second stay extension)
- Stay Extension Application, filed July 10, 2018
- Affidavit of Matthew Bruneau, filed July 10, 2018
- Extension Order, filed July 18, 2018
September 5, 2018 Application (Third stay extension)
- Stay Extension Application, filed August 28, 2018
- Affidavit of Wayne Munter, sworn August 27, 2018 Unfiled
- Extension Order granted September 5, 2018
Proposal Trustee Reports