Global Food and Ingredients Inc. et al. (Siena receivership)

Global Food and Ingredients Inc. et al. are in a court-appointed receivership in the Ontario Superior Court of Justice, commenced 23 May 2024 on the application of Siena Lending Group Canada LLC under s. 243(1) of the Bankruptcy and Insolvency Act and s. 101 of the Courts of Justice Act, file CV-24-00720816-00CL. Richter Inc. is receiver, and the proceeding remains active. Siena, which applied pursuant to its security over ABL Priority Collateral, is the sole creditor on the receiver's mailing list, with a claim of $4,184,515.26 as at 30 May 2024, inclusive of $600K in closing and early termination fees. The receiver states the company owed no money to unsecured creditors as at that date. Parent-level unaudited book assets were $26,755K at 30 March 2024; realizable value of the business and assets is currently unknown.