BookJane Inc. filed a notice of intention to make a proposal under BIA s. 50.4 on April 23, 2025 in the Ontario Superior Court of Justice (Commercial List), file BK-25-03215064-0031. Management's unaudited book-value figures as at December 31, 2024 show total assets of $888,000, principally accounts receivable, against total liabilities of $12,473,000, a position the Trustee understands has not materially changed. AYAL Capital Advisors Elite Fund LP, as collateral agent for a consortium of noteholders including Amica Senior Lifestyles Trust, KB Capital Management Inc., Zahra Salibury and John MacDonald, is owed approximately $10.9 million as at the filing date, secured by a general security interest in all of the company's assets under an April 8, 2024 Collateral Agency Agreement. Ontario's Minister of Finance holds a PPSA registration of approximately $400,000 for unpaid employer health taxes. An order was made May 20, 2025, and the stay runs to July 7, 2025.
The court granted an approval and vesting order for the sale to Ayal Capital Advisors Elite Fund LP. Closing terms, as extracted: Vesting effective upon delivery of the Proposal Trustee's Certificate confirming payment of the Purchase Price, satisfaction/waiver of conditions to Closing under Article 5 of the APA, and completion of the Transaction to the satisfaction of the Proposal Trustee.
Stay Extension and Admin Charge Order dated May 20, 2025 was filed.
Source: Stay Extension and Admin Charge Order dated May 20, 2025
Debtor
File Documents
Proposal trustee
Albert Gelman
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 3 orders, Jun 2025 | 310 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, May 2025 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeAlbert Gelman | Capstone Legal | 2 Jun 2025 | Service list · 2 Jun 2025 |
| CreditorBookJane Inc | Garfinkle, Biderman LLP | 14 May 2025 | Application · 14 May 2025 |
| CreditorEdion Healthcare | Expat Attorneys LLP | 2 Jun 2025 | Service list · 2 Jun 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | AYAL Capital Advisors Elite Fund LP, as collateral agent for the Consortium (AYAL, Amica Senior Lifestyles Trust, KB Capital Management Inc., Zahra Salibury and John MacDonald)General security interest in all of the Company's assets, granted pursuant to a Collateral Agency Agreement dated April 8, 2024, securing convertible promissory notes/debentures issued to Consortium members — Approximate figure stated by Trustee as of the Filing Date (April 23, 2025); described as senior secured lender — debtor: BookJane Inc. · as of 23 Apr 2025 | $10.9M | First Report of the Proposal Trustee dated May 15, 2025 |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
40 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale approved — The Transaction is approvedApproval and Vesting Order dated June 5, 2025 · 5 Jun 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Ayal Capital Advisors Elite Fund LPthe Company's right, title and interest in and to the Purchased Assets (as defined in the APA) · asset sale · agreement 26 May 2025 | not stated | Approved5 Jun 2025 | Approval and Vesting Order dated June 5, 2025 |
Senior Secured Lender: shortfall.EstimatedMotion Record of BookJane Inc. · 27 May 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Senior Secured Lender | — | shortfall | Estimatedper the debtor | Motion Record of BookJane Inc. · 27 May 2025 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Ancillary Order dated June 5, 2025
| PDF · Subscribers | |
Approval and Vesting Order dated June 5, 2025
| PDF · Subscribers | |
Endorsement of Justice Conway dated June 5, 2025
| PDF · Subscribers | |
| Second Report of the Proposal Trustee dated June 2, 2025 | PDF · Subscribers | |
Service List – June 2, 2025
| PDF · Subscribers | |
Motion Record of BookJane Inc. dated May 27, 2025
| PDF · Subscribers | |
Endorsement of J. Cavanagh dated May 20, 2025
| PDF · Subscribers | |
Stay Extension and Admin Charge Order dated May 20, 2025
| PDF · Subscribers | |
Aide Memoire of BookJane Inc. – May 16, 2025
| PDF · Subscribers | |
Factum of BookJane Inc-Extension Motion – 16 May 2025
| PDF · Subscribers | |
First Report of the Proposal Trustee dated May 15, 2025
| PDF · Subscribers | |
Motion Record of BookJane Inc. dated May 14, 2025
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
| Certificate of Filing of Notice of Intention | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “BookJane Inc.” (NOI), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/bookjane-inc
Sources last checked · summary updated 9 August 2026 · Report a correction · Printed from proceedings.ca/case/bookjane-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.