#Order
Approval of professional fees and activites, termination of CCAA and discarge of Monitor — Discharge order
Claims processIf you are owed money
A claims procedure has been established — see the order for deadlines.
Per the Instruction Letter for Claims Process dated 9 April 2021.
Case updates79 dated entries
76 earlier updates — subscribers.
Parties
Debtor
EncoreFX Inc
Monitor
EY
RecoveriesAs stated in the filings
Closed · the record states no distribution outcome.
Documents
79 filings
| Date | Document | File |
|---|---|---|
| Approval of professional fees and activites, termination of CCAA and discarge of Monitor | Trustee site | |
| Discharge Order | Trustee site | |
| Fifth Report of the Trustee | Trustee site | |
| Fourth Report of the Monitor | Trustee site | |
| Fourt Report of the Monitor filed October 26, 2022 | Trustee site | |
| Fifth Report of the Trustee filed October 12, 2022 | Trustee site | |
| Order Made After Application | Trustee site | |
| Stay Extension Hearing | Trustee site | |
| Third Report of the Monitor | Trustee site | |
| Affidavit No. 1 - Zeena Cartwright | Trustee site | |
| Service List as at Oct 19, 2021 | Trustee site | |
| Second Report of the Monitor | Trustee site | |
| Sanction Order | Trustee site | |
| Monitor's First Report | Trustee site | |
| Post Meeting Report | Trustee site | |
| Meeting Agenda | Trustee site | |
| Meeting Protocol | Trustee site | |
| Proxy Summary | Trustee site | |
| Voting Summary | Trustee site | |
| Service List as at May 10, 2021 | Trustee site | |
| Affidavit of E-mail of Marko Gordic dated May 5, 2021 | Trustee site | |
| Affidavit of Mailing of Jason Eckford dated May 5, 2021 | Trustee site | |
| First Amendment to the Plan of Arrangement | Trustee site | |
| Notice of Amended Plan | Trustee site | |
| Affidavit of Publishing | Trustee site | |
| Service List as at April 13, 2021 | Trustee site | |
| Claims Package | Trustee site | |
| Convenience Creditor Form | Trustee site | |
| Instruction Letter for Claims Process | Trustee site | |
| Notice of Meeting of Creditors | Trustee site | |
| Plan Information Letter | Trustee site | |
| Proof of Claim Form | Trustee site | |
| Property Proof of Claim Form | Trustee site | |
| Proxy Form | Trustee site | |
| Claims Process Order | Trustee site | |
| Creditor's Meeting Order | Trustee site | |
| Stay Extension Order | Trustee site | |
| Certificate of Appointment amended April 7, 2021 | Trustee site | |
| Plan of Compromise and Arrangements | Trustee site | |
| Service List as at April 6, 2021 | Trustee site | |
| Notice to Creditors on CCAA Proceedings dated March 31, 2021 | Trustee site | |
| CCAA Conversion Order | Trustee site | |
| Service List as at March 15, 2021 | Trustee site | |
| Service List | Trustee site | |
| Notice of Application - Comeback Hearing | Trustee site | |
| Application Binder containing: - Petition to Court - Notice of Hearing - Consent to Act - Pre-Filing Report of Ernst & Young Inc., proposed Monitor of EncoreFX Inc. - Draft Conversion Order - Blackline Conversion Order to Template Model Initial Order | Trustee site | |
| First Report of the Proposed Monitor | Trustee site | |
| Trustee Certificate | Trustee site | |
| Order of Justice Fitzpatrick | Trustee site | |
| Trustee's Fourth Report | Trustee site | |
| SERVICE LIST (As at October 29, 2020) | Trustee site | |
| Third Report of the Trustee | Trustee site | |
| Order of Justice Fitzpatrick This Court orders and declares that: 1. The sale transaction (the "Transaction") contemplated by the Asset Purchase Agreement for the Acquisition of Certain Assets of EncoreFX Inc. dated May 5, 2020 (the "Sale Agreement") between the Trustee and Global Reach Financial Solutions Inc. (the "Purchaser"), a copy of which is attached as Appendix "A" to the Report is hereby approved, and the Sale Agreement is commercially reasonable. The execution of the Sale Agreement by the Trustee is hereby authorized and approved, and the Trustee is hereby authorized and directed to take such additional steps and execute such additional documents as may be necessary or desirable for the completion of the Transaction and for the conveyance to the Purchaser of the assets described in the Sale Agreement (the "Purchased Assets"). 2. Upon delivery by the Trustee to the Purchaser of a certificate substantially in the form attached as Schedule "B" hereto (the "Trustee's Certificate"), all of the Debtor's right, 21619267v2 MAY 11, 2020 11-May-20 Vancouver 2 title and interest in and to the Required Purchased Assets described in the Sale Agreement and listed on Schedule "C" hereto (which, for clarity, excludes the Excluded Assets described in the Sale Agreement and hereto listed on Schedule "D") shall vest absolutely in the Purchaser in fee simple, free and clear of and from any and all security interests (whether contractual, statutory, or otherwise), hypothecs, mortgages, trusts or deemed trusts (whether contractual, statutory, or otherwise), liens, executions, levies, charges, or other financial or monetary claims, whether or not they have attached or been perfected, registered or filed and whether secured, unsecured or otherwise (collectively, the "Claims") including, without limiting the generality of the foregoing, all charges, security interests or claims evidenced by registrations pursuant to the Personal Property Security Act of British Columbia or any other personal property registry system (all of which are collectively referred to as the "Encumbrances"), and, for greater certainty, this Court orders that all of the Encumbrances affecting or relating to the Purchased Assets are hereby expunged and discharged as against the Purchased Assets. 3. For the purposes of determining the nature and priority of Claims, the net proceeds from the sale of the Purchased Assets shall stand in the place and stead of the Purchased Assets, and from and after the delivery of the Trustee's Certificate all Claims shall attach to the net proceeds from the sale of the Required Purchased Assets with the same priority as they had with respect to the Purchased Assets immediately prior to the sale, as if the Purchased Assets had not been sold and remained in the possession or control of the person having had possession or control immediately prior to the sale. 4. The Trustee is to file with the Court a copy of the Trustee's Certificate forthwith after delivery thereof | Trustee site | |
| The Court orders and declares that the Affidavit #1 of Mike Bell, sworn May 6, 2020 be sealed | Trustee site | |
| Draft Approval and Vesting Order This Court orders and declares that: 1. The sale transaction (the "Transaction") contemplated by the Asset Purchase Agreement for the Acquisition of Certain Assets of EncoreFX Inc. dated May 5, 2020 (the "Sale Agreement") between the Trustee and Global Reach Financial Solutions Inc. (the "Purchaser"), a copy of which is attached as Appendix "A" to the Report is hereby approved, and the Sale Agreement is commercially reasonable. The execution of the Sale Agreement by the Trustee is hereby authorized and approved, and the Trustee is hereby authorized and directed to take such additional steps and execute such additional documents as may be necessary or desirable for the completion of the Transaction and for the conveyance to the Purchaser of the assets described in the Sale Agreement (the "Purchased Assets"). 2. Upon delivery by the Trustee to the Purchaser of a certificate substantially in the form attached as Schedule "B" hereto (the "Trustee's Certificate"), all of the Debtor's right, 21619267v1 2 title and interest in and to the Required Purchased Assets described in the Sale Agreement and listed on Schedule "C" hereto (which, for clarity, excludes the Excluded Assets described in the Sale Agreement and hereto listed on Schedule "D") shall vest absolutely in the Purchaser in fee simple, free and clear of and from any and all security interests (whether contractual, statutory, or otherwise), hypothecs, mortgages, trusts or deemed trusts (whether contractual, statutory, or otherwise), liens, executions, levies, charges, or other financial or monetary claims, whether or not they have attached or been perfected, registered or filed and whether secured, unsecured or otherwise (collectively, the "Claims") including, without limiting the generality of the foregoing, all charges, security interests or claims evidenced by registrations pursuant to the Personal Property Security Act of British Columbia or any other personal property registry system (all of which are collectively referred to as the "Encumbrances"), and, for greater certainty, this Court orders that all of the Encumbrances affecting or relating to the Purchased Assets are hereby expunged and discharged as against the Purchased Assets. 3. For the purposes of determining the nature and priority of Claims, the net proceeds from the sale of the Purchased Assets shall stand in the place and stead of the Purchased Assets, and from and after the delivery of the Trustee's Certificate all Claims shall attach to the net proceeds from the sale of the Required Purchased Assets with the same priority as they had with respect to the Purchased Assets immediately prior to the sale, as if the Purchased Assets had not been sold and remained in the possession or control of the person having had possession or control immediately prior to the sale | Trustee site | |
| Draft Order Made After Application This Court orders that: The Trustee is at liberty to complete the transaction contemplated by the asset purchase agreement dated May 5, 2020, made between the Trustee and Global Reach Financial Solutions Inc., in substantially the form attached hereto as Schedule "B", prior to the appointment of inspectors | Trustee site | |
| Draft Sealing Order sealing document Affidavit #1 of Mike Bell, sworn May 6, 2020 | Trustee site | |
| Notice of Application Orders sought: 1. Directions, pursuant to s. 34(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (the "BIA"), as to the Trustee's power to complete the transaction contemplated by the Global Reach APA (defined below) (Appendix "A" to the Second Report of Ernst & Young Inc., Trustee of EncoreFX Inc., effective as at May 5, 2020 (the "Second Report")), prior to the appointment of inspectors. 2. An Order, in substantially the form of draft Order attached hereto as Schedule "A", permitting the Trustee to act in accordance with the directions provided under para. 2 above. 3. An Order, in substantially the form of draft Approval and Vesting Order attached hereto as Schedule "B", in respect of the transaction contemplated by the Global Reach APA (as defined below). 4. An Order, in substantially the form of draft Order attached hereto as Schedule "C", that Affidavit #1 of Mike Bell, made May 6, 2020, including all Exhibits thereto, be filed under seal pending further Order of the Court | Trustee site | |
| Proposed Agenda for First Meeting of Creditors | Trustee site | |
| Protocol re First Meeting of Creditors The First Meeting of Creditors for the bankruptcy of EncoreFX has been rescheduled. The First Meeting of Creditors is now scheduled for Thursday, May 7, 2020 at 10:00AM PST. Please find enclosed the protocol for the First Meeting of Creditors of the bankruptcy of EncoreFX. The protocol provides you with key information relating to pre-meeting requirements, registration and how the First Meeting of Creditors on May 7, 2020 will be conducted as a result of the social distancing measures during this period of COVID-19 | Trustee site | |
| Affidavit of Brett Flowers This Affidavit is made in support of the Notice of Application for an Approval and Vesting Order, expected to be filed on or about May 5, 2020 by Ernst & Young Inc., in its capacity as licensed trustee in bankruptcy of the estate of EncoreFX Inc | Trustee site | |
| Orders sought: 1. Directions, pursuant to s. 34(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (the "BIA"), as to the Trustee's power to complete the transaction contemplated by the Global Reach APA (defined below) (Appendix "A" to the Second Report of Ernst & Young Inc., Trustee of EncoreFX Inc., effective as at May 5, 2020 (the "Second Report")), prior to the appointment of inspectors. 2. An Order, in substantially the form of draft Order attached hereto as Schedule "A", permitting the Trustee to act in accordance with the directions provided under para. 2 above. 3. An Order, in substantially the form of draft Approval and Vesting Order attached hereto as Schedule "B", in respect of the transaction contemplated by the Global Reach APA (as defined below). 4. An Order, in substantially the form of draft Order attached hereto as Schedule "C", that Affidavit #1 of Mike Bell, made May 6, 2020, including all Exhibits thereto, be filed under seal pending further Order of the Court | Trustee site | |
| 1. On March 30, 2020 (the “Bankruptcy Date”), EncoreFX Inc. (“EncoreFX” or the “Company”) made an assignment into bankruptcy pursuant to Section 49 of the Bankruptcy and Insolvency Act (the “BIA”) for the benefit of its creditors. Ernst & Young Inc. was appointed as the licensed insolvency trustee (the “Trustee”) of the estate (the “Estate”) of EncoreFX, subject to affirmation by the unsecured creditors. 2. Since the Bankruptcy Date, the Trustee has filed two reports in its administration of the Estate with the Supreme Court of British Columbia (the “Court”). The Trustee’s first report dated April 22, 2020 (the “First Report”) generally sought to provide the Court with an update on the background of the Company, the key activities of the Trustee since its appointment and the estimated assets and liabilities of the Company. It further sought the direction and the approval of the Court, for the protocol for the first meeting of creditors, the approval of the US Subsidiary LOI and authorization for the Trustee to “close out” ITM positions. A copy of the First Report is attached as Appendix A | Trustee site | |
| Second Report of the Trustee The purpose of this second report (the "Second Report") is to provide the Supreme Court of British Columbia with respect to the following: i) the "Sales Process" undertaken by the Trustee; and 3 004 ii) the Global Reach APA (defined below) for the sale of certain assets and infrastructure of the Company; and to seek directions in respect of: iii) the Approval and Vesting order with respect to the sale of the Canadian Business Infrastructure (term defined below) | Trustee site | |
| Order of Justice Fitzpatrick This Court orders and declares that the Affidavit of Peter Venetsanos dated April 23, 2020 be sealed | Trustee site | |
| Order of Justice Fitzpatrick This Court orders that: The Trustee is at liberty to enter into the "Letter of Intent' as Exhibit A to the Affidavit of Peter Venetsanos (sealed in these proceedings) The Trustee is at liberty to enter into the "Protocol" for the first meeting of creditors substantially in the form of Schedule B | Trustee site | |
| This Court orders that: The Order sought in paragraph 2(a) of Part 1 of the Notice of Motion filed in these proceedings, is adjourned generally. The Trustee, if so instructed by the inspectors of the estate of EncoreFX, may, on notice to affected parties, disclaim any of the forward currency contracts and options entered into between EncoreFX and its customers which hve resulted in, in the money positions of such customers (the "ITM Contracts"), without prejudice whatsoever to any rights, obligations or defences of EncoreFX customers who: have entered into ITM Contracts, or have entered into forward currency contracts and options with EncoreFX which have resulted in out of the money positions (the "OTM Contracts") | Trustee site | |
| Notice of Motion - Directions Orders sought: 1. Directions, pursuant to sections 18, 19, 30 and 34(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (the “BIA”), as to the Trustee’s power to do the following prior to the appointment of inspectors: a. to disclaim all of the forward contracts and options resulting in the ITM positions of the ITM Clients (as defined below) (together the “Contracts”) on a date determined by the Trustee or the Supreme Court of British Columbia; and b. to enter into the US Subsidiary LOI with the Purchaser (as defined below). 2. Directions, pursuant to s. 34(1) of the BIA, as to the Trustee’s proposed Protocol (as defined below) for convening the first meeting of creditors of EncoreFX | Trustee site | |
| Requisition Commencing Action This requisition is supported by the following: 1. Notice of Motion for Directions; 2. First Report of Ernst & Young Inc., Trustee of EncoreFX Inc, April 22, 2020; and 3. Affidavit of Peter Venetsanos, made on April 23, 2020 (to be sealed) | Trustee site | |
| First Report of Trustee The purpose of this first report of the Trustee (the "First Report") is to provide the Supreme Court of British Columbia with an update in respect of the following: i) background information pertaining to EncoreFX; ii) key activities of the Trustee since its appointment; iii) estimated assets and liabilities of the Company; and to seek directions in respect of: i) approving the Protocol; ii) approving the US Subsidiary LOI (as herein defined); iii) authorizing the Trustee to consummate settlement agreements with OTM clients in exceptional circumstances, without prior authorization of the inspectors; and iv) authorizing the Trustee to "close-out" ITM positions | Trustee site | |
| Form 31 - Proof of Claim | Trustee site | |
| Form 36 - Proxy | Trustee site | |
| Form 74 - Reclamation of Property | Trustee site | |
| Instructions to complete Proof od Claim and Proxy forms | Trustee site | |
| List of Creditors | Trustee site | |
| Notice to Creditors | Trustee site | |
| Certificate of Appointment | Trustee site | |
| Creditor List as at March 30, 2020 updated on April 23, 2021 | Trustee site | |
| Form 78 - Statement of Affairs | Trustee site |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “EncoreFX Inc” (CCAA). Retrieved 20 September 2026, https://proceedings.ca/case/encorefx-inc