In the Matter of the Proposal of Burke Interior Systems Ltd.
On February 28, 2024, Burke Interior Systems Ltd. (the “Company”) filed a Notice of Intention to make a proposal pursuant to subsection 50.4(1) of the Bankruptcy and Insolvency Act (Canada) (the “BIA”). BDO Canada Limited (the “Trustee”) has consented to act as the Licensed Insolvency Trustee under the Proposal.
On March 18, 2024, the Company filed a proposal for the general benefit of its creditors (the “Proposal”) pursuant to subsection 62(1) of the BIA.
On or around April 25, 2024, the Bank of Nova Scotia issued a demand requiring the Company to repay its credit line in full and terminated the credit line. As a result of the termination of the credit line, the Company will be unable to operate its business and, therefore, will be unable to fulfil its obligations under the Proposal.
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