Just Solutions Inc.
Follow- Proceeding
- Proposalsection 60(5) of the BIA and section 185 of The Business Corporations Act (Saskatchewan)
- File
- BKY-RG-00103-2022
- Industry
- Financial services · Insurance
Just Solutions Inc. obtained approval of its Division I proposal in the Court of King's Bench for Saskatchewan on July 14, 2022, under section 60(5) of the BIA and section 185 of The Business Corporations Act (Saskatchewan). Alvarez & Marsal Canada Inc. brought the application and acts as proposal trustee, under court file no. BKY-SA-123-2022. The list of creditors filed with the notice of intention records unsecured claims of $2,910,646.00 owed to Forage Subordinated Debt Limited Partnership II as subordinated debt, $214,749.56 to Jardine Lloyd Thompson Canada Inc and $40,000.00 on a Canada Emergency Business Account loan. The proceeding is active.
The officer filed report no. Second Report. JSI continues to operate while completing its NOI restructuring; it fully drew the $225,000 DIP Facility to fund ongoing operations (including additional employee layoffs beyond forecast), and under the accepted Stalking Horse Proposal Forage will become sole shareholder while trade creditors and employees continue to be paid in the ordinary course. Court file BKY-RG-00103-2022.
Source: Second Report of Alvarez & Marsal Canada Inc. in its capacity as Trustee
The officer filed a report. The Company, an insurance broker selling crop and hail insurance in western Canada, faced insolvency after a difficult 2021 crop year led to a spike in claims and difficulty obtaining rights to bind insurance for 2022; it pursued a NOI restructuring via a Stalking Horse Proposal with Forage as sponsor, ran a SISP that yielded no superior offers, and the Trustee recommends the Proposal as providing the Company an opportunity to continue as a going concern.
The officer filed report no. First Report. Just Solutions is a crop and hail insurance broker with about 9 employees that is continuing to operate as a going concern during the NOI proceedings, funded by a proposed DIP facility while a sales and investment solicitation process runs with a stalking horse bid from its secured lender, Forage.
Source: Proposal Trustee’s First Report
Debtor
Just Solutions Inc.
Proposal trustee
Alvarez & Marsal
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Elson | Court of King's Bench for Saskatchewan | 1 order, Jul 2022 | 17 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeAlvarez & Marsal | MLT Aikins LLP | 30 Jun 2022 | Service list · 30 Jun 2022 |
| DebtorJust Solutions Inc. | McCarthy Tétrault LLP | 30 Jun 2022 | Service list · 30 Jun 2022 |
| CreditorForage Subordinated Debt Limited Partnership II | Tingle Merrett LLP | 30 Jun 2022 | Service list · 30 Jun 2022 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Forage Subordinated Debt Limited Partnership IIas of NOI filing date — Named as subordinated debt; may be related party given fund-style name, not confirmed on face of document — debtor: Just Solutions Inc. | $2.91M | Notice to Creditors NOI |
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured |
6 more claims in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution.Under the plan · sanctionedSecond Report of Alvarez & Marsal Canada Inc. in its capacity as Trustee · 4 Jul 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | Her Majesty in Right of Canada or any province (Crown Priority Claims) | — | paid in full | Under the plansanctionedper the proposal trustee | Second Report of Alvarez & Marsal Canada Inc. in its capacity as Trustee · 4 Jul 2022 |
| Deemed trust | Her Majesty in Right of Canada or any province | — | paid in fullconditional | Under the plansanctionedper the proposal trustee | Form 40 – Report of Trustee on Proposal · 4 Jul 2022 |
| Secured | Affected Secured Creditor | — | a distributionfinalconditional | Under the plansanctionedper the proposal trustee | Second Report of Alvarez & Marsal Canada Inc. in its capacity as Trustee · 4 Jul 2022 |
| Unsecured | Affected Unsecured Creditor | — | a distributionfinalconditional | Under the plansanctionedper the proposal trustee | Second Report of Alvarez & Marsal Canada Inc. in its capacity as Trustee · 4 Jul 2022 |
| class not placed | Persons holding Claims which relate to Trade Amounts | — | paid in fullconditional | Under the plansanctionedper the proposal trustee | Second Report of Alvarez & Marsal Canada Inc. in its capacity as Trustee · 4 Jul 2022 |
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 ·
Cumulative receipts
$27K
As at 4 Jul 2022Second Report of Alvarez & Marsal Canada Inc. in its capacity as Trustee
Cash on hand
As at
Professional fees
As at
2 more reported figures, and 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 |
|---|---|---|
| Proposal Trustee’s Certificate (Filed) | PDF · Subscribers | |
Order
| PDF · Subscribers | |
Form 40 – Report of Trustee on Proposal
| PDF · Subscribers | |
Second Report of Alvarez & Marsal Canada Inc. in its capacity as Trustee
| PDF · Subscribers | |
Service List
| PDF · Subscribers | |
| Notice of Court Application | PDF · Subscribers | |
Notice to Creditors of Proposal
| PDF · Subscribers | |
Proposal Trustee’s First Report
| PDF · Subscribers | |
| Affidavit of of Justin Simpkins sworn on April 18, 2022 | PDF · Subscribers | |
Notice to Creditors NOI
| 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., “Just Solutions Inc.” (Proposal), Court of King's Bench for Saskatchewan. Retrieved 4 November 2026, https://proceedings.ca/case/just-solutions-inc