#Filing
Both FlexITy entities commenced these proceedings by filing a notice of intention under BIA s. 50.4, opening court file BK-23-02926549-0031 in Ontario.
FlexITy Solutions Inc. and FlexITy Holdings Inc.
FollowActive
- Proceeding
- NOISection 50.4 of the Bankruptcy and Insolvency Act
- File
- BK-23-02926549-0031
OverviewSummary updated
FlexITy Solutions Inc. and FlexITy Holdings Inc. are in proceedings under a notice of intention to make a proposal pursuant to s. 50.4 of the BIA, commenced April 18, 2023 in the Ontario Superior Court of Justice under court file BK-23-02926549-0031, with B. Riley Farber Inc. as proposal trustee. The largest secured claim is that of ultimate parent BHG-BC Holdings Ltd. (formerly 1086070 B.C. Ltd.), owed $37,317,005.95 by Solutions on two general security agreements dated August 17, 2016 and July 27, 2018, and also acting as DIP lender and stalking horse purchaser. Unsecured claims against Solutions were reported at $1,977,299.66 in aggregate as at the NOI filing date of March 27, 2023, the largest being Allied Properties' Toronto office lease arrears of $573,574.18, a debt to be assumed by Supra under the Supra asset purchase agreement.
Proceedings AIAsk this case — answers cite the filings
Case updates13 dated entries
#Sale
The court granted an approval and vesting order for the sale to Supra Canada Technologies Ltd. Closing terms, as extracted: Vesting effective upon delivery of the Proposal Trustee's Certificate confirming payment of Purchase Price and satisfaction of closing conditions.
Source: Order of Justice Osborne (Approval and Vesting Order)
10 earlier updates, back to 27 March 2023 — subscribers.
Parties
Debtor
FlexITy Solutions Inc. and FlexITy Holdings Inc.
Proposal trustee
GlassRatner
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | BHG-BC Holdings Ltd. (formerly 1086070 B.C. Ltd.) · in 2 casesas of NOI filing date (March 27, 2023) — Two general security agreements dated August 17, 2016 and July 27, 2018; registered financing statements against Solutions in Ontario and Manitoba — Ultimate parent company / related party; largest secured creditor, also DIP Lender and stalking horse purchaser; security opinion confirmed by Miller Thomson LLP — debtor: FlexITy Solutions Inc. | $37.3M | Second Report of the Proposal Trustee |
Sale processAs stated in the filings
2 transactions · 1 approved · 1 closed — Sale Process for the Remaining Assets, stalking horse bid pending auction/approval motionSecond Report of the Proposal Trustee · 18 Apr 2023
| Purchaser | Price | Status | Source |
|---|---|---|---|
| BHG-BC Holdings Ltd.Stalking horsecertain property as set out therein (as defined under the Stalking Horse Agreement) (the ' Property ') · asset sale · agreement 29 Mar 2023 | Subscribers | Approved4 Apr 2023 | Order of Justice Osborne (Sale Process Order) |
| Supra Canada Technologies Ltd.the Debtors' right, title and interest in and to the Flexity Purchased Assets · asset sale · agreement 29 Mar 2023 | not stated | Closed6 Apr 2023outside 19 May 2023 | Second Report of the Proposal Trustee |
AdvisorsB. Riley Farber Inc. (sale agent)Teaser
Closing termsVesting effective upon delivery of the Proposal Trustee's Certificate confirming payment of Purchase Price and satisfaction of closing conditions.Order of Justice Osborne (Approval and Vesting Order)
Fees and ratesAs stated in the filings
2 engagements · 2 firms — latest: Miller Thomson LLP, 22 Feb – 14 Apr 2023Motion Record · 24 Apr 2023
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| B. Riley Farber Inc.Trustee | — | — | — | ••• | Second Report of the Proposal Trustee · 18 Apr 2023 |
| Miller Thomson LLPCounsel to the trustee | 22 Feb – 14 Apr 2023 | — | — | ••• | Motion Record · 24 Apr 2023 |
Documents
13 filings
| Date | Document | File |
|---|---|---|
Motion Record (returnable April 24, 2023)
| PDF · Subscribers | |
Second Report of the Proposal Trustee
| PDF · Subscribers | |
Endorsement of Justice Osborne
| PDF · Subscribers | |
Order of Justice Osborne (Ancillary Order)
| PDF · Subscribers | |
Order of Justice Osborne (Approval and Vesting Order)
| PDF · Subscribers | |
Order of Justice Osborne (Sale Process Order)
| PDF · Subscribers | |
Stalking Horse Sale Process
| PDF · Subscribers | |
FlexITy Solutions Inc. – NOI Creditors Package
| PDF · Subscribers | |
| Stalking Horse Asset Purchase Agreement | PDF · Subscribers | |
| FlexITy Holdings Inc. – Certificate of Filing of a Notice of Intention to Make a Proposal | PDF · Subscribers | |
| FlexITy Solutions Inc. – Certificate of Filing of a Notice of Intention to Make a Proposal | PDF · Subscribers | |
FlexITy Holdings Inc. – NOI Creditors Package
| PDF · Subscribers | |
Teaser
| 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., “FlexITy Solutions Inc. and FlexITy Holdings Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/flexity-solutions-inc-and-flexity-holdings-inc