Kroeger Inc.
Follow- Proceeding
- NOIsection 50.4(9) of the BIA
- File
- BK-25-03193642-0031
Kroeger Inc. filed a notice of intention to make a proposal under section 50.4 of the Bankruptcy and Insolvency Act on February 28, 2025, under court file BK-25-03193642-0031 in the Ontario Superior Court of Justice. Its creditor list as at the filing date showed $5,620,340 in unsecured claims, led by Jazwares LLC at $1,669,617.95, Playmonster Group LLC at $749,955.78, Ceaco at $661,066.12, Crazy Aaron Ent. Inc. at $427,619.85 and Basic Fun Inc. at $294,671.43. Jazwares separately asserts a contingent unsecured claim of US$1,400,000 in litigation in the U.S. District Court for the Southern District of Florida, which is not included in that total. Pathward, National Association, the primary secured lender, delivered a notice of default and was owed $949,125.12 plus US$18,867.92 as at March 5, 2025; the Business Development Bank of Canada was owed $540,070 as at March 3, 2025, the two lenders' security ranking under a priority agreement. The proceeding is active.
15 earlier updates, back to 10 March 2025 — subscribers.
Debtor
Kroeger Inc.
Proposal trustee
B. Riley Farber
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 3 orders, Feb 2025 – Mar 2025 | 288 cases on record |
| Justice Conway | Ontario Superior Court of Justice | 2 orders, May 2025 | 285 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorKroeger Inc. | Fasken Martineau DuMoulin LLP | 10 Mar 2025 | Factum · 10 Mar 2025 |
| CreditorBusiness Development Bank of Canada | Miller Thomson LLP | 1 May 2025 | Aide Memoire · 1 May 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Business Development Bank of Canada (BDC) · in 241 casesGeneral security agreement granting lien on all present and after-acquired personal property, registered under PPSA (non-demand term loan facilities) — BDC subordinated its security interest in inventory and accounts receivable in favour of Pathward, and Pathward subordinated its security interest in all other personal property in favour of BDC, per priority agreement — debtor: Kroeger Inc. · as of 3 Mar 2025 | $540K | First Report of the Proposal Trustee |
2 transactions · 1 proposed · 1 approved — The Transaction is hereby approvedOrder of Justice Conway (Approval and Vesting Order) · 2 May 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Genco International Ltd.Stalking horsethe Purchased Assets (as defined in the Stalking Horse Agreement) · asset sale · agreement 6 Mar 2025 | Subscribers | Proposedoutside 30 May 2025 | Second Report of the Proposal Trustee |
| Genco International Ltd. (formerly 1001166783 Ontario Ltd.)Stalking horsethe Purchased Assets, as defined in the APA · asset sale · ResidualCo: 1973862 Ontario Inc. · agreement 6 Mar 2025 | Subscribers | Approved2 May 2025 | Order of Justice Conway (Approval and Vesting… |
Pathward and BDC: paid in full.EstimatedFirst Report of the Proposal Trustee · 7 Mar 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Pathward and BDC | — | paid in fullconditional | Estimatedper the proposal trustee | First Report of the Proposal Trustee · 7 Mar 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.
4 engagements · 2 firms — latest: (firm not named), 27 Mar – 23 Apr 2025Second Report of the Proposal Trustee · 30 Apr 2025
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| (firm not named)capacity not statedperiod 3 of 3 · firm not named in the heading | 27 Mar – 23 Apr 2025 | — | ••• | not stated | Second Report of the Proposal Trustee · 30 Apr 2025 |
| (firm not named)capacity not statedperiod 2 of 3 · firm not named in the heading | 3 Mar – 26 Mar 2025 | — | ••• | not stated | Second Report of the Proposal Trustee · 30 Apr 2025 |
| (firm not named)Proposal trusteeperiod 1 of 3 · firm not named in the heading | — | — | — | ••• | Second Report of the Proposal Trustee · 30 Apr 2025 |
| PVCounsel | — | — | — | ••• | Second Report of the Proposal Trustee · 30 Apr 2025 |
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
Trustee Preliminary Report
| PDF · Subscribers | |
| Creditors Package | PDF · Subscribers | |
| Certificate of Appointment | PDF · Subscribers | |
Endorsement of Justice Conway
| PDF · Subscribers | |
| Motion Record, returnable May 2, 2025 | PDF · Subscribers | |
Order of Justice Conway (Ancillary Relief and Distribution Order Order)
| PDF · Subscribers | |
Order of Justice Conway (Approval and Vesting Order)
| PDF · Subscribers | |
Aide Memoire of Business Development Bank of Canada
| PDF · Subscribers | |
Second Report of the Proposal Trustee
| PDF · Subscribers | |
Factum of the Applicant, returnable March 10, 2025
| PDF · Subscribers | |
Motion Record, returnable March 10, 2025
| PDF · Subscribers | |
Order of Justice Cavanagh (Initial Proposal Order)
| PDF · Subscribers | |
Order of Justice Cavanagh (Stalking Horse SISP)
| PDF · Subscribers | |
Supplementary Factum of the Applicant, returnable March 10, 2025
| PDF · Subscribers | |
First Report of the Proposal Trustee
| PDF · Subscribers | |
| Creditors Package (NOI) | PDF · Subscribers | |
| Certificate of Filing of a Notice of Intention to Make a Proposal | PDF · Subscribers | |
Endorsement of Justice Cavanagh
| 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., “Kroeger Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/kroeger-inc