Kroeger Inc.
- 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.
The court granted an approval and vesting order for the sale to Genco International Ltd. (formerly 1001166783 Ontario Ltd.). Closing terms, as extracted: Vesting effective upon delivery of the Proposal Trustee's Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.
Source: Order of Justice Conway (Approval and Vesting Order)
Order of Justice Conway (Ancillary Relief and Distribution Order Order) — Distribution order
Kroeger Inc. — NOI filed, Ontario.
Source: Certificate of Filing of a Notice of Intention to Make a Proposal
Debtor
Kroeger Inc.
Proposal trustee
B. Riley Farber
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 3 orders, May 2025 | 310 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 3 orders, Feb 2025 – Mar 2025 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorKroeger Inc. | Fasken Martineau DuMoulin LLP | 10 Mar 2025 | Factum · 7 Mar 2025 |
| CreditorBusiness Development Bank of Canada | Miller Thomson LLP | 1 May 2025 | Aide Memoire · 1 May 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Pathward, National Association · in 2 casesLien on all present and after-acquired personal property, registered under PPSA (revolving, demand line of credit facilities) — Primary secured lender; notice of default delivered; Pathward subordinated its security interest in all personal property other than inventory and accounts receivable in favour of BDC pursuant to priority agreement — debtor: Kroeger Inc. · as of 5 Mar 2025 | $949K | First Report of the Proposal Trustee |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 5 | PMSI / lessors | |||
| 5 | PMSI / lessors | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
13 more claims in 3 classes The stack holds Secured, PMSI / lessors and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans2 transactions · 1 proposed · 1 closed — substantially all of the Company's assets were vested in GencoTrustee Preliminary Report · 12 Jun 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 | Closed2 May 2025 | Trustee Preliminary Report |
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: Pallett Valo LLP, 27 Mar – 23 Apr 2025, Second Report of the Proposal Trustee · 30 Apr 2025
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| B. Riley Farber Inc.Proposal trustee | — | — | — | Second Report of the Proposal Trustee · 30 Apr 2025 | |
| Pallett Valo LLPCounselperiod 3 of 3 | 27 Mar – 23 Apr 2025 | — | not stated | Second Report of the Proposal Trustee · 30 Apr 2025 | |
| Pallett Valo LLPCounselperiod 2 of 3 | 3 Mar – 26 Mar 2025 | — | not stated | Second Report of the Proposal Trustee · 30 Apr 2025 | |
| Pallett Valo LLPCounselperiod 1 of 3 | — | — | — | Second Report of the Proposal Trustee · 30 Apr 2025 |
4 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plansAs at ·
Cumulative receipts
$635K
As at 30 Apr 2025Second Report of the Proposal Trustee
Professional fees
As at
1 more reported figure, and the total 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 |
|---|---|---|
Trustee Preliminary Report
| PDF · Subscribers | |
Creditors Package
| PDF · Subscribers | |
| Certificate of Appointment | PDF · Subscribers | |
Endorsement of Justice Conway
| 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 | |
| Motion Record, returnable May 2, 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 | |
Factum of the Applicant, returnable March 10, 2025
| PDF · Subscribers | |
First Report of the Proposal Trustee
| PDF · Subscribers | |
Motion Record, returnable March 10, 2025
| 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 4 November 2026, https://proceedings.ca/case/kroeger-inc