Proceedings.

North American Fur Auctions Inc.

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Proceeding
CCAAthe Companies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
File
CV-19-00630241-00CL
Filings held103
Last activity10 May 2024
On the record2,562 days
OverviewSummary updated

North American Fur Auctions Inc. has been under CCAA protection in the Ontario Superior Court of Justice since October 31, 2019, under court file CV-19-00630241-00CL, with Deloitte serving as monitor. The application was brought together with North American Fur Producers Inc., NAFA Properties Inc. and 3306319 Nova Scotia Limited. A list of creditors revised as of November 11, 2019 and prepared from NAFA's books and records as of October 31, 2019 puts unsecured claims against North American Fur Auction Inc. at an aggregate $49,595,937, a figure that itemises claims over $1,000 individually and includes reported aggregates of $13,983,988 for individual payables over $1,000 and $837,532 for trade payables and other liabilities under $1,000. The proceedings remain active.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Fresh as Amended Claims Process Order dated January 17, 2024.pdf dated 17 January 2024.

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Case updates102 dated entries · 1 undated
#Report

The officer filed report no. Seventeenth Report. NAFA continues to wait for depressed auction markets to recover, with a significant volume of financed mink pelts still unsold and expected to be auctioned later in 2024; the company otherwise has no ongoing operating business beyond monetizing remaining inventory and loan recoveries.

Source: Seventeenth Report of the Monitor .PDF

#Report

The officer filed report no. Sixteenth Report of the Monitor. NAFA has largely wound down its core auction business and is now focused on realizing remaining assets, including pursuing insurance and other litigation claims and recovering loans made to mink farmers, while working toward a plan of compromise with creditors.

Source: Sixteenth Report of the Monitor .PDF

#Report

The officer filed report no. Fourteenth Report. NAFA continues to pursue asset recovery through mink pelt auctions, European loan recovery litigation, and insurance claims against its trade credit insurer, while implementing a claims process and developing a plan of arrangement amid depressed auction volumes following the Covid-19 pandemic.

Source: Fourteenth Report of the Monitor .PDF

#Report

The officer filed report no. Thirteenth Report. NAFA continues to wind down its financing/auction business amid depressed mink markets due to Covid-19, recovering loans from farmers and pursuing sales of remaining properties, while the Monitor works on a claims process to identify and quantify creditor claims.

Source: Thirteenth Report of the Monitor .PDF

#Report

The officer filed report no. Eleventh Report. NAFA has liquidated substantially all of its assets via the Sinobec Transactions, and continues to wind down remaining matters including a Nova Scotia mink farm sale, European litigation to recover farmer loans, insurance claims on unpaid kit loans, and sale of remaining consigned pelts, while operating with minimal staff.

Source: Eleventh Report of the Monitor, dated January 18, 2023.PDF

#Report

The officer filed report no. Tenth Report. NAFA has realized on the bulk of its assets, is winding down remaining operations by closing sales of its Polish and Wisconsin properties, collecting on insurance claims and rollover loans, and continuing to sell consigned fur pelts through auction houses.

Source: Tenth Report of the Monitor .PDF

#Sale

The court granted an approval and vesting order for the sale to Sinobec Group Inc. Closing terms, as extracted: Vesting of the Intellectual Property, Phase I Assets, and Phase II Assets occurs upon delivery of respective Monitor's Certificates confirming payment of the Purchase Price and satisfaction/waiver of closing conditions. Sealed: Confidential Appendices to the Ninth Report.

Source: Approval and Vesting Order, dated April 26, 2022.pdf

#Report

The officer filed report no. Ninth Report. The Applicants' business of advancing kit loans to mink farmers and running fur auctions has been hit by the Covid-19 pandemic; they are now selling remaining assets (intellectual property incl. the Blackglama trademark, and the Poland and Wisconsin properties) to Sinobec in three phases and pursuing recovery of farmer loans, insurance claims and a nascent brokerage business.

Source: Ninth Report of the Monitor, dated April 23, 2002.PDF

#Report

The officer filed report no. Eighth Report. NAFA continues to wind down and monetize its remaining assets (real property in Poland and Wisconsin, intellectual property, rollover loans, insurance claims) while collecting auction proceeds from mink pelts financed in prior years, and has entered into an APA to sell certain remaining assets to a purchaser.

Source: Eighth Report of the Monitor, dated January 28, 2022.PDF

#Report

The officer filed report no. Seventh Report. NAFA continues to wind down and monetize its non-core assets (real property, insurance claims, rollover loans) while relying on auction proceeds from Saga, KF and AME to pay down its Syndicate Debt, and is seeking expressions of interest for a potential transaction involving its remaining business.

Source: Seventh Report of the Monitor .PDF

#Sale

The court granted an approval and vesting order for the sale to Gestion Famille Wei Li II Inc. and Wei Li Family Holding II Inc. Closing terms, as extracted: Vesting effective upon delivery of Monitor's Certificate confirming payment of purchase price and satisfaction of closing conditions.

Source: Approval and Vesting Order re Skyway .pdf

#Report

The officer filed report no. Sixth Report. NAFA continues a limited wind-down and monetization of remaining assets amid a depressed but recovering fur market, focusing on completing the Skyway Property sale, collecting auction and loan proceeds, pursuing insurance claims and litigation on rollover loans, and exploring its brokerage business.

Source: Sixth Report of the Monitor .pdf

#Report

The officer filed report no. Fifth Report. With the 2020 auction season over, NAFA is in a 'hibernation' period with significantly reduced operations and staffing, focused on realizing remaining assets (about 813,274 mink pelts for 2021 auctions, loans, real property, litigation, insurance claims) and preparing to vacate the Skyway Property.

Source: Fifth Report of the Monitor .pdf

#Report

The officer filed report no. Fourth Report. NAFA has continued to operate on a reduced footing, cutting staff and salaries, vacating the Skyway Property by October 31, 2020, selling surplus assets and pursuing realizations from remaining furs, loan recoveries, litigation and insurance claims. The Covid-19 pandemic has depressed auction proceeds and the planned SISP has not occurred.

Source: Fourth Report of the Monitor .pdf

#Report

The officer filed report no. Third Report of the Monitor. NAFA is not conducting regular auctions or collecting new furs while it seeks Court approval for a spring 2020 auction, a SISP and a further KERP. It is also selling its real estate and receiving pelt advances and proceeds from the Saga arrangement to repay the Syndicate Debt.

Source: Third Report of the Monitor .pdf

#Sale

The court granted an approval and vesting order for the sale to Lange Group of Companies Ltd. Closing terms, as extracted: Vesting effective upon delivery of the Monitor's Certificate confirming payment of Purchase Price and satisfaction of conditions to closing.

Source: Approval and Vesting Order of Justice McEewen .pdf

#Report

The officer filed report no. Second Report. The Applicants continue to operate in the normal course while implementing the Saga Arrangement, transitioning kit loans and pelts to Saga, returning consigned goods, and listing their real properties for sale (Carlingview sale pending approval), with staffing being reduced as activity declines.

Source: Second Report of the Monitor .pdf

#Report

The officer filed report no. First Report of the Monitor. The Applicants continue to operate under CCAA protection, funding mink farmers' Kit Loans, transitioning farmer loans to Saga Furs under the Saga Arrangement, and, under the proposed amended order, listing Polish and US real property and the Head Office ground lease for sale while repaying the Syndicate Debt from distributable cash.

Source: First Report of the Monitor .pdf

#Order

Initial order granted, bringing North American Fur Auctions Inc. under CCAA protection in the Ontario Superior Court of Justice and starting the proceeding under file CV-19-00630241-00CL.

Source: Initial Order .pdf

Undated filings1 — no date appears on the document · show
Parties

Debtor

North American Fur Auctions Inc.

Monitor

Deloitte

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice McEwenOntario Superior Court of Justice15 orders, Nov 2019 – May 2023143 cases on record
Justice ConwayOntario Superior Court of Justice7 orders, Sep 2023 – Apr 2024310 cases on record
Justice McEwanOntario Superior Court of Justice3 orders, Jul 2020 – Jan 202313 cases on record

Counsel of record

PartyCounselFirst seenSource
MonitorDeloitteMiller Thomson LLP27 Nov 2020Service list · 27 Nov 2020
ApplicantBusiness Development Bank of CanadaThornton Grout Finnigan LLP8 Nov 2019Endorsement · 8 Nov 2019
ApplicantNorth American Fur Auctions Inc.Blaney McMurtry LLP16 Jul 2020Endorsement · 26 Aug 2020
CreditorCanadian Imperial Bank of Canada (CIBC)Blake, Cassels & Graydon LLP27 Nov 2020Service list · 27 Nov 2020
CreditorEmployeesKoskie Minsky LLP27 Nov 2020Service list · 27 Nov 2020
CreditorEXP Services IncChaitons LLP27 Nov 2020Service list · 27 Nov 2020
CreditorFarm Credit CanadaCox & Palmer27 Nov 2020Service list · 27 Nov 2020
CreditorInternational Fur Trade Federation, IFF Americas and Fur EuropeChaitons LLP27 Nov 2020Service list · 27 Nov 2020
CreditorMaatschap Kanters, H.A.JDickinson Wright LLP27 Nov 2020Service list · 27 Nov 2020
CreditorMaatschap Kanters, H.A.J. KantersDickinson Wright LLP27 Nov 2020Service list · 27 Nov 2020
CreditorMeadowvale Land Limited and Rebecca's Gift Holdings LimitedMinden Gross LLP27 Nov 2020Service list · 27 Nov 2020
CreditorMichael's Furs/ Montana Fur TradersWeisz Fell Kour LLP27 Nov 2020Service list · 27 Nov 2020
CreditorSheila Anne CooperKoskie Minsky LLP25 May 2023Application · 17 May 2023
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
UnsecuredUnsecured creditors (aggregate as reported) · in 563 casesThis is the total of the itemised list (individual creditors with claims >$1,000) plus reported aggregates for 'Individuals Payables Over $1,000.00' ($13,983,988), and 'Trade Payables & Other Liabilities Under $1,000.00' ($837,532); document provides its own grand total of $49,595,937. — debtor: North American Fur Auction Inc. · as of 31 Oct 2019$49.6MCreditor List .pdf
Sale processAs stated in the filings

10 transactions · 4 closed · 4 approved · 2 proposed — NAFA has realized on the bulk of its assets for the benefit of its creditors, with the intellectual property/business asset sale closed and Polish and Wisconsin property sales pending closing.Tenth Report of the Monitor .PDF · 22 Jul 2022

PurchaserPriceStatusSource
purchaser of the Wisconsin Properties not yet identified; sale process contemplatedthe Wisconsin Properties · real propertynot statedProposedSecond Report of the Monitor .pdf
purchaser of the Polish Property not yet identified; listing broker engagedthe Polish Property · real propertynot statedProposedSecond Report of the Monitor .pdf
Lange Group of Companies Ltd.the assets described in the Sale Agreement (the "Purchased Assets") · real property · nominee/assignee: 2728148 Ontario Inc. · agreement 18 Apr 2019not statedCloseddate not statedThird Report of the Monitor .pdf
Gestion Famille Wei Li II Inc. and Wei Li Family Holding II Inc.the Vendor's right, title, and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 11 Dec 2020SubscribersApproved7 Apr 2021Approval and Vesting Order re Skyway .pdf
Niche Bakers Properties Inc.the Ground Lease relating to the Skyway Property · real propertynot statedClosed30 Apr 2021Seventh Report of the Monitor .PDF
unnamed purchaser of the Williams Property, offer from Star Holding Inc. not acceptedthe Williams Property · real propertynot statedClosed10 Sep 2021Seventh Report of the Monitor .PDF
Sinobec Group Inc.the Intellectual Property, the Phase I Assets and the Phase II Assets described in the Sale Agreement · auction · agreement 18 Apr 2021not statedApproved26 Apr 2022Approval and Vesting Order, dated April 26,…
purchaser of intellectual property and business assets, unnamedCertain intellectual property and business assets (e.g. computers and other assets necessary to support a fur auction business) · auctionnot statedClosed29 Apr 2022Tenth Report of the Monitor .PDF
purchaser of the Polish property, unnamedNAFA's former European office and warehouse located in Poland · real propertynot statedApprovedTenth Report of the Monitor .PDF
purchaser of the Wisconsin property, unnamedA warehouse in Stoughton, Wisconsin that NAFA formerly used for fur storage · real propertynot statedApprovedTenth Report of the Monitor .PDF
AdvisorsCBRE Limited (listing broker); Fur Harvesters Auction Inc. (auctioneer); KPMG Inc. and KPMG Corporate Finance (financial advisor)Seventeenth Report of the Monitor .PDF
Closing termsVesting of the Intellectual Property, Phase I Assets, and Phase II Assets occurs upon delivery of respective Monitor's Certificates confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.Approval and Vesting Order, dated April 26, 2022.pdf
Sealed materialsConfidential Appendices to the Ninth ReportApproval and Vesting Order, dated April 26, 2022.pdf
RecoveriesAs declared or paid

Unsecured creditors: no distribution. Syndicated Lenders paid in full.Under the plan · implementedMotion Record of the Applicants re: Plan Sanction returnable April 12,… · 5 Apr 2024

ClassCreditorClaimsRecoveryBasisSource
Securedfirst priority mortgagee on 1600 Williams Drive property—paid in fullFinalper the debtorMotion Record of the Applicants re Stay Extension dated September 24,… · 24 Sep 2021
SecuredBusiness Development Bank of Canada—paid in fullFinalper the debtorMotion Record of the Applicants re Stay Extension dated September 24,… · 24 Sep 2021
SecuredUnaffected Secured Syndicate ClaimSyndicated Lenders—paid in fullUnder the planimplementedper the monitorOrder of Justice Conway re: Sanction of Plan of Arrangement, dated… · 12 Apr 2024
SecuredUnaffected Secured Syndicate Claimestimatedpaid in fullconditionalUnder the planimplementedper the monitorSixteenth Report of the Monitor .PDF · 15 Jan 2024
PreferredCCAA Priority Payment Claims—paid in fullUnder the planimplementedper the monitorOrder of Justice Conway re: Sanction of Plan of Arrangement, dated… · 12 Apr 2024
UnsecuredAffected Creditor with a Proven Claim (de minimis pro rata share under $25)—no distributionconditionalUnder the planimplementedper the debtorMotion Record of the Applicants re: Plan Sanction returnable April 12,… · 5 Apr 2024
Equity——no recoveryUnder the planimplementedper the monitorSeventeenth Report of the Monitor .PDF · 5 Apr 2024

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.

1 blurred figure above

The claims and what each class or creditor recovers — each as the filing states it, with its source.

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Fees and ratesAs stated in the filings

5 engagements · 2 firms — latest: Miller Thomson LLP, 1 Jan – 31 Dec 2022, soughtEleventh Report of the Monitor, dated January 18, 2023.PDF · 18 Jan 2023

FirmPeriodHoursFeesRatesSource
Deloitte Restructuring Inc.MonitorCombined PeriodSoughtEleventh Report of the Monitor, dated January 18, 2023.PDF · 18 Jan 2023
Miller Thomson LLPCounsel to the monitorperiod 4 of 41 Jan – 31 Dec 2022Soughtnot statedEleventh Report of the Monitor, dated January 18, 2023.PDF · 18 Jan 2023
Miller Thomson LLPCounsel to the monitorperiod 3 of 41 Mar – 30 Dec 2021—4 peopleEighth Report of the Monitor, dated January 28, 2022.PDF · 28 Jan 2022
4 people — Miller Thomson LLP, 1 Mar – 30 Dec 2021 · 4 blurred figures
NameYear of callHoursRateFees
Kyla Mahar2001——
Gregory Azeff2002——
Sam Massie2017——
Alina StoicaParaprofessional——
Miller Thomson LLPCounsel to the monitorperiod 2 of 41 Jul 2020 – 28 Feb 20217 peopleSixth Report of the Monitor .pdf · 5 Apr 2021
7 people — Miller Thomson LLP, 1 Jul 2020 – 28 Feb 2021 · 7 blurred figures
NameYear of callHoursRateFees
Michael Wren1983——
Kyla Mahar2001——
Gregory Azeff2002——
Asim Iqbal2012——
Tamie Dolny2019——
Alina StoicaParaprofessional——
Patty WatsonLegal Associate——
Miller Thomson LLPCounsel to the monitorperiod 1 of 424 Oct 2019 – 30 Jun 202016 peopleFourth Report of the Monitor .pdf · 24 Aug 2020
16 people — Miller Thomson LLP, 24 Oct 2019 – 30 Jun 2020 · 16 blurred figures
NameYear of callHoursRateFees
Michael Wren1983——
Kyla Mahar2001——
Gregory Azeff2002——
Karen Durell2008——
Erin Craddock2012——
Asim Iqbal2012——
Tamie Dolny2019——
Eduard Popov2018——
Jessie ChauPara——
Honor LayArticling Student——
Katrina KairysArticling Student——
Stephanie TassopoulosArticling Student——
Alina StoicaParaprofessional——
Mark EmmanuelParaprofessional——
Solutions Corp. ServicesMT Clerk——
Myles HunsbergerParaprofessional——

40 blurred figures above

What each firm billed, and each person’s hours and rate — each as the filing states it, with its source.

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Estate financialsReported figures — never derived

Cumulative receipts

$1.98M USD

As at 27 Jan 2022Eighth Report of the Monitor, dated January 28, 2022.PDF

Cumulative disbursements

As at

Cash on hand

As at

Professional fees

As at

3 more reported figures

Each one as the filing states it, with its source.

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Documents
103 filings
DateDocumentFile
Plan Implementation Certificate, dated May 10, 2024.PDFPDF · Subscribers
Endorsement of Justice Conway, dated April 12, 2024.pdf
  • Presiding officer Justice Conway
PDF · Subscribers
Order of Justice Conway re: Sanction of Plan of Arrangement, dated April 12, 2024.pdf
  • Recovery outcome Entries: per plan; per plan · Table missing:
PDF · Subscribers
Factum of Applicants re: Plan Sanction, dated April 5, 2024.pdfPDF · Subscribers
Motion Record of the Applicants re: Plan Sanction returnable April 12, 2024 dated April 5, 2024.pdf
  • Recovery outcome Entries: per plan; per plan · Table missing:
PDF · Subscribers
Seventeenth Report of the Monitor .PDF
  • Operational summary NAFA continues to wait for depressed auction markets to recover, with a significant volume of financed mink pelts still unsold and expected to be auctioned later in 2024; the company otherwise has no ongoing operating business beyond monetizing remaining inventory and loan recoveries.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 7 more extracted facts
PDF · Subscribers
Motion Record of the Applicants Returnable March 26, 2024, dated March 25, 2024.pdfPDF · Subscribers
Instructions for Completing the Proxy.PDF
PDF · Subscribers
Notice of Meeting.PDF
PDF · Subscribers
Endorsement of Justice Conway, dated January 17, 2024.pdf
  • Presiding officer Justice Conway
PDF · Subscribers
Fresh as Amended Claims Process Order dated January 17, 2024.pdf
  • Presiding officer Justice Conway
PDF · Subscribers
Meeting Order dated January 17, 2024.pdf
  • Presiding officer Justice Conway
PDF · Subscribers
Proxy.PDF
PDF · Subscribers
Factum of the Applicants, dated January 15, 2024.pdfPDF · Subscribers
Sixteenth Report of the Monitor .PDF
  • Operational summary NAFA has largely wound down its core auction business and is now focused on realizing remaining assets, including pursuing insurance and other litigation claims and recovering loans made to mink farmers, while working toward a plan of compromise with creditors.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 6 more extracted facts
PDF · Subscribers
Motion Record of the Applicants, dated January 11, 2024 returnable January 17, 2024PDF · Subscribers
NAFA's Proposed Plan of Arrangement dated January 11, 2024.PDFPDF · Subscribers
Stay Extension Order, dated November 29, 2023.pdf
  • Counsel Blaney McMurtry LLP
  • Presiding officer Justice Conway
PDF · Subscribers
Fifteenth Report of the Monitor .PDF
  • Cash on hand · Disbursements · Financial position · Professional fees Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Motion Record of the Applicants, Returnable November 29, 2023 - dated November 24, 2023.pdfPDF · Subscribers
Endorsement of Justice Conway .pdf
  • Presiding officer Justice Conway
PDF · Subscribers
Order of Justice Conway re Stay Extension dated September 26, 2023.pdf
  • Counsel Blaney McMurtry LLP
  • Presiding officer Justice Conway
PDF · Subscribers
Fourteenth Report of the Monitor .PDF
  • Operational summary NAFA continues to pursue asset recovery through mink pelt auctions, European loan recovery litigation, and insurance claims against its trade credit insurer, while implementing a claims process and developing a plan of arrangement amid depressed auction volumes following the Covid-19 pandemic.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Motion Record of the Applicants, Returnable September 26, 2023.pdfPDF · Subscribers
Proof of Claim.pdfPDF · Subscribers
Claims Process Instruction Letter.pdfPDF · Subscribers
Claims Process Notice.pdf
PDF · Subscribers
Endorsement of Justice McEwen, dated May 25, 2023.pdf
  • Presiding officer Justice McEwen
PDF · Subscribers
Order of Justice McEwen re Claims Process, dated May 25, 2023.pdf
  • Counsel Blaney McMurtry LLP
  • Presiding officer Justice McEwen
PDF · Subscribers
Order of Justice McEwen re WEPPA, dated May 25, 2023.pdf
  • Presiding officer Justice McEwen
PDF · Subscribers
Thirteenth Report of the Monitor .PDF
  • Operational summary NAFA continues to wind down its financing/auction business amid depressed mink markets due to Covid-19, recovering loans from farmers and pursuing sales of remaining properties, while the Monitor works on a claims process to identify and quantify creditor claims.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Motion Record of Certain Terminated NAFA Employees re WEPPA, returnable May 25, 2023.pdf
  • Counsel Koskie Minsky LLP
  • Recovery outcome Entries: per unstated · Table missing:
PDF · Subscribers
Endorsement of Justice McEwen re Stay Extension, dated April 26, 2023.pdf
  • Presiding officer Justice McEwen
PDF · Subscribers
Order of Justice McEwen re Stay Extension, dated April 26, 2023.pdf
  • Presiding officer Justice McEwen
PDF · Subscribers
Twelfth Report of the Monitor, dated April 23, 2023.pdf
  • Cash on hand · Disbursements · Financial position · Professional fees Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Motion Record of the Applicants Returnable April 26, 2023 - dated April 21, 2023.pdfPDF · Subscribers
Endorsement of Justice McEwan, dated January 23, 2023.PDF
  • Presiding officer Justice McEwan
PDF · Subscribers
Order of Justice McEwan, dated January 23, 2023 (Stay Extension and Disposition of Trust Funds).PDF
  • Presiding officer Justice McEwan
PDF · Subscribers
Eleventh Report of the Monitor, dated January 18, 2023.PDF
  • Cash on hand · Disbursements · Fee schedule · Financial position Subscribers
  • + 5 more extracted facts
PDF · Subscribers
Motion Record of the Applicants Returnable January 20 .pdfPDF · Subscribers
Monitor's Certificate Extending the Stay Period to January 27, 2023.PDFPDF · Subscribers
Order of Justice McEwen re Stay Approval and Other Matters .pdf
  • Presiding officer Justice McEwen
PDF · Subscribers
Tenth Report of the Monitor .PDF
  • Closing confirmed Closed · 29 Apr 2022
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 9 more extracted facts
PDF · Subscribers
Monitor's Certificate Extending the Stay to July 29, 2022.PDFPDF · Subscribers
Approval and Vesting Order, dated April 26, 2022.pdf
  • Closing terms Vesting of the Intellectual Property, Phase I Assets, and Phase II Assets occurs upon delivery of respective Monitor's Certificates confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.
  • Counsel Miller Thomson LLP
  • Order date 26 April 2022
  • Presiding officer Justice McEwen
  • + 4 more extracted facts
PDF · Subscribers
Motion Record of the Applicants, dated April 19, 2022.pdfPDF · Subscribers
Stay Extension Order, dated January 31, 2022.pdf
  • Counsel Blaney McMurtry LLP
PDF · Subscribers
Eighth Report of the Monitor, dated January 28, 2022.PDF
  • Cash on hand · Disbursements · Fee schedule · Financial position Subscribers
  • + 5 more extracted facts
PDF · Subscribers
Motion Record of the Applicants, dated January 26, 2022 - Motion returnable January 31, 2022.pdfPDF · Subscribers
Monitor's Certificate to Extend the Stay Period to January 31, 2022.PDFPDF · Subscribers
Responding Motion Record on behalf of certain terminated NAFA employees dated September 28, 2021.pdfPDF · Subscribers
Seventh Report of the Monitor .PDF
  • Closing confirmed Closed · 30 Apr 2021; Closed · 10 Sep 2021
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 9 more extracted facts
PDF · Subscribers
Motion Record of the Applicants re Stay Extension dated September 24, 2021, returnable September 29, 2021.pdf
  • Recovery outcome Entries: per actual; per actual · Table missing:
PDF · Subscribers
Monitor's Certificate to Extend the Stay Period to September 30, 2021 .pdfPDF · Subscribers
Approval and Vesting Order re Skyway .pdf
  • Closing terms Vesting effective upon delivery of Monitor's Certificate confirming payment of purchase price and satisfaction of closing conditions
  • Counsel Blaney McMurtry LLP
  • Order date 7 April 2021
  • Purchaser Gestion Famille Wei Li II Inc. and Wei Li Family Holding II Inc. · the Vendor's right, title, and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · approved
  • + 1 more extracted fact
PDF · Subscribers
Stay Extension and Approval of Conduct and Fees Order .pdf
  • Counsel Blaney McMurtry LLP
PDF · Subscribers
Sixth Report of the Monitor .pdf
  • Cash on hand · Disbursements · Fee schedule · Financial position Subscribers
  • + 9 more extracted facts
PDF · Subscribers
Motion Record of the Applicants re Stay Extension .pdfPDF · Subscribers
Endorsement and Order of Justice McEwen .pdf
  • Counsel Blaney McMurtry LLP
  • Presiding officer Justice McEwen
PDF · Subscribers
Service List .pdf
  • Counsel Dickinson Wright LLP
PDF · Subscribers
Motion Record of Applicants re Skyway .pdfPDF · Subscribers
Approval and Vesting Order with Endorsement re Skyway Property .pdf
  • Counsel Blaney McMurtry LLP
PDF · Subscribers
Stay Extension Order and Endorsement .pdf
  • Counsel Blaney McMurtry LLP
PDF · Subscribers
Draft Approval & Vesting Order .pdfPDF · Subscribers
Draft Stay Extension Order .pdfPDF · Subscribers
Factum of the Respondents .pdfPDF · Subscribers
Applicants' Draft Order in Support of s.11.3 CCAA Assignment .pdfPDF · Subscribers
Applicants' Factum in Support of s.11.3 CCAA Assignment , returnable November 5, 2020.pdfPDF · Subscribers
Fifth Report of the Monitor .pdf
  • Operational summary With the 2020 auction season over, NAFA is in a 'hibernation' period with significantly reduced operations and staffing, focused on realizing remaining assets (about 813,274 mink pelts for 2021 auctions, loans, real property, litigation, insurance claims) and preparing to vacate the Skyway Property.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Respondents' Motion Record .pdfPDF · Subscribers
Motion Record of the Applicants , returnable November 5, 2020.pdfPDF · Subscribers
Order and Endorsement re Stay Extention, Fees and Conduct .pdf
  • Counsel Blaney McMurtry LLP
PDF · Subscribers
Fourth Report of the Monitor .pdf
  • Cash on hand · Disbursements · Fee schedule · Financial position Subscribers
  • + 5 more extracted facts
PDF · Subscribers
Final Motion Record - Returnable August 26, 2020.pdfPDF · Subscribers
Order and Endorsement of the Honourable Justice McEwan (re Stay Extension).pdf
  • Counsel Blaney McMurtry LLP
  • Presiding officer Justice McEwan
PDF · Subscribers
Notice of Motion - Stay Extension .pdfPDF · Subscribers
Email to Service List .pdfPDF · Subscribers
Order of Justice McEwen .pdf
  • Presiding officer Justice McEwen
PDF · Subscribers
Third Report of the Monitor .pdf
  • Closing confirmed Closed · date not stated · Lange Group of Companies Ltd.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 9 more extracted facts
PDF · Subscribers
Endorsement of Justice McEwen re: Safe Harbour order .pdfPDF · Subscribers
Safe Harbour order of Justice McEwen .pdf
  • Presiding officer Justice McEwen
PDF · Subscribers
Approval and Vesting Order of Justice McEewen .pdf
  • Closing terms Vesting effective upon delivery of the Monitor's Certificate confirming payment of Purchase Price and satisfaction of conditions to closing.
  • Order date 28 November 2019
  • Presiding officer Justice McEewen
  • Purchaser Lange Group of Companies Ltd. · nominee/assignee 2728148 Ontario Inc. · the assets described in the Sale Agreement (the "Purchased Assets") · real property · approved
  • + 1 more extracted fact
PDF · Subscribers
Endorsement of Justice McEwen .pdfPDF · Subscribers
Motion Record of the Applicants .pdfPDF · Subscribers
Order of Justice McEwen regarding Approving Conditions for Sale of Ground Leases .pdf
  • Order date 28 November 2019
  • Presiding officer Justice McEwen
  • Stalking horse Subscribers
PDF · Subscribers
Stay Extension Order of Justice McEwen .pdf
  • Presiding officer Justice McEwen
PDF · Subscribers
Affidavit of Doug Lawson .pdfPDF · Subscribers
Second Report of the Monitor .pdf
  • Operational summary The Applicants continue to operate in the normal course while implementing the Saga Arrangement, transitioning kit loans and pelts to Saga, returning consigned goods, and listing their real properties for sale (Carlingview sale pending approval), with staffing being reduced as activity declines.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 9 more extracted facts
PDF · Subscribers
Creditor List .pdf
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Amended and Restated Initial Order of Justice McEwen .pdfPDF · Subscribers
Endorsement of Justice McEwen (Comeback Hearing).pdf
  • Presiding officer Justice McEwen
PDF · Subscribers
Endorsement of Justice McEwen (re BDC Application).pdf
  • Counsel Thornton Grout Finnigan LLP
  • Presiding officer Justice McEwen
PDF · Subscribers
Order of Justice McEwen Re Amended and Restated Initial Order .pdf
  • Applicant North American Fur Producers Inc., NAFA Properties Inc., 3306319 Nova Scotia Limited, North American Fur Auctions Inc., NAFA Properties (US) Inc., NAFA Properties Stoughton LLC, North American Fur Auctions (US) Inc., NAFPRO LLC (Wisconsin LLC), NAFA Europe Co-operatief UA, NAFA Europe B.V., Daikoku
  • Appointee Deloitte Restructuring Inc.
  • Appointee role monitor
  • Commencement date 8 November 2019
  • + 3 more extracted facts
PDF · Subscribers
First Report of the Monitor .pdf
  • Operational summary The Applicants continue to operate under CCAA protection, funding mink farmers' Kit Loans, transitioning farmer loans to Saga Furs under the Saga Arrangement, and, under the proposed amended order, listing Polish and US real property and the Head Office ground lease for sale while repaying the Syndicate Debt from distributable cash.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Notice to Creditors - NAFA .pdf
PDF · Subscribers
Notice to Creditors .pdf
PDF · Subscribers
Application Record .pdfPDF · Subscribers
Initial Order .pdf
  • Applicant North American Fur Producers Inc., NAFA Properties Inc., 3306319 Nova Scotia Limited, North American Fur Auctions Inc.
  • Appointee Deloitte
  • Appointee role monitor
  • Commencement date 31 October 2019
  • + 3 more extracted facts
PDF · Subscribers
Notice of Application .pdf
  • Applicant North American Fur Producers Inc., NAFA Properties Inc., 3306319 Nova Scotia Limited, North American Fur Auctions Inc., et al. (the "Applicants")
  • Appointee Deloitte Restructuring Inc.
  • Appointee role Monitor
  • Commencement date 30 October 2019
  • + 3 more extracted facts
PDF · Subscribers
Pre-filing Report of the Proposed Monitor .pdfPDF · Subscribers
Affidavit of Ariyana Botejue .pdfPDF · Subscribers
Ninth Report of the Monitor, dated April 23, 2002.PDF
  • Operational summary The Applicants' business of advancing kit loans to mink farmers and running fur auctions has been hit by the Covid-19 pandemic; they are now selling remaining assets (intellectual property incl. the Blackglama trademark, and the Poland and Wisconsin properties) to Sinobec in three phases and pursuing recovery of farmer loans, insurance claims and a nascent brokerage business.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Creditors Under $10K.pdfPDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “North American Fur Auctions Inc.” (CCAA), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/north-american-fur-auction-inc

Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/north-american-fur-auction-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.