BookJane Inc.
Follow- Proceeding
- NOISection 50.4(9) of the Bankruptcy and Insolvency Act
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- BK-25-03215064-0031
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.
11 earlier updates, back to 27 May 2025 — subscribers.
Debtor
File Documents
Proposal trustee
Albert Gelman
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 2 orders, Jun 2025 | 285 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, May 2025 | 288 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 |
|---|---|---|---|
| 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 |
Sale 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.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| 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 20 September 2026, https://proceedings.ca/case/bookjane-inc