Proceedings.

Sherson Group Inc

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Proceeding
NOIsubsection 50.4(1) of the Bankruptcy and Insolvency Act
Court
Ontario Superior Court of Justice
File
31-2010608
Industry
Retail · Apparel, footwear & jewellery retail
Filings held29
Last activity21 Jan 2016
On the record4,147 days
OverviewSummary updated

Sherson Group Inc. filed a notice of intention to make a proposal on 29 June 2015 under subsection 50.4(1) of the Bankruptcy and Insolvency Act, in the Ontario Superior Court of Justice (court file 31-2010608), with Richter Advisory Group Inc. as proposal trustee. Among the largest creditors listed are Nine West Group Inc at $19,134,511.10, the Bank of Montreal at $3,923,157.25 on its revolving account and $777,784 on a term loan, Stephen Applebaum Inc. at $3,400,000 and BDC Capital at $3,010,941.44.

Claims processIf you are owed money

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

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Case updates28 dated entries · 1 undated
#Sale

The court granted an approval and vesting order for the sale to Nine West Canada LP, by its general partner Jones Canada, Inc. on behalf of Nine West Canada LP. Closing terms, as extracted: Vesting effective upon delivery of the Proposal Trustee's Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction. Sealed: Confidential Appendices to the Second Report.

Source: Approval and Vesting Order – dated August 20, 2015

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

Application Guide for the Wage Earner Protection Program — Court officer report filed

PDF · Subscribers

Parties

Debtor

Sherson Group Inc

Proposal trustee

Richter

Bench and counselPer the orders and service lists on the record

Counsel of record

PartyCounselFirst seenSource
DebtorSherson Group IncAird & Berlis LLP28 Jul 2015Application · 27 Jul 2015
CreditorNine West Canada LtdStikeman Elliott LLP13 Aug 2015Affidavit · 13 Aug 2015
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
3Deemed trusts (CRA and other)Ministere du Revenu du Quebec · in 23 casesas of NOI filing date — Revenu Quebec source deductions/payroll - deemed trust class — debtor: Sherson Group Inc.$33.3KNotice to Creditors of Intention to make a Proposal – dated July 7, 2015
8Unsecured
8Unsecured
8Unsecured
8Unsecured
8Unsecured
8Unsecured
8Unsecured
8Unsecured
8Unsecured

68 more claims in 1 class The stack holds Deemed trusts (CRA and other) and Unsecured claims.

Every creditor and every amount, drawn to scale.

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Sale processAs stated in the filings

Sale closed — Sale of substantially all of the Company's business and assets closedTrustee’s Report to the First Meeting of Creditors on Preliminary… · 7 Dec 2015

PurchaserPriceStatusSource
Nine West Canada LPRelated partythe rights and obligations of Sherson under certain agreements · asset sale · agreement 6 Aug 2015SubscribersClosed21 Aug 2015Trustee’s Report to the First Meeting of…
Closing termsAssignment effective upon delivery of Proposal Trustee's Assignment Certificate; Purchaser pays Sherson Cure Amount contemporaneouslyOrder re Assignment of Agreements – dated August 20, 2015
Sealed materialsConfidential Appendices to the Second ReportApproval and Vesting Order – dated August 20, 2015
RecoveriesAs declared or paid

Unsecured creditors: no distribution. BDC Capital Inc. (BDC) paid in full · Bank of Montreal (BMO) paid in full · Stephen Applebaum Inc. (SAI) short.EstimatedTrustee’s Report to the First Meeting of Creditors on Preliminary… · 7 Dec 2015

ClassCreditorClaimsRecoveryBasisSource
SecuredBDC Capital Inc. (BDC)—paid in fullFinalper the trusteeTrustee’s Report to the First Meeting of Creditors on Preliminary… · 7 Dec 2015
SecuredBank of Montreal (BMO)—paid in fullFinalper the trusteeTrustee’s Report to the First Meeting of Creditors on Preliminary… · 7 Dec 2015
SecuredStephen Applebaum Inc. (SAI)shortfallFinalper the trusteeTrustee’s Report to the First Meeting of Creditors on Preliminary… · 7 Dec 2015
Unsecured——no distributionEstimatedper the trusteeTrustee’s Report to the First Meeting of Creditors on Preliminary… · 7 Dec 2015

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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Documents
29 filings
DateDocumentFile
Order (I) approving Final Report and (II) granting Motion to close Chapter 15 Case – dated January 21, 2016PDF · Subscribers
Notice of Wage Earner Protection Program Act (“WEPPA”)PDF · Subscribers
Trustee’s Report to the First Meeting of Creditors on Preliminary Administration – dated December 7, 2015
  • Closing confirmed Closed · 21 Aug 2015 · Nine West Canada LP
  • Purchaser Nine West Canada LP (related party) · substantially all of the Company's business and assets · asset sale · closed
  • Recovery outcome Entries: per actual; per actual; per actual; per estimated · Table missing:
  • Financial position Subscribers
  • + 2 more extracted facts
PDF · Subscribers
Notice of Bankruptcy, First Meeting of Creditors – dated November 26, 2015PDF · Subscribers
Certificate of Assignment – dated November 19, 2015PDF · Subscribers
Proof of ClaimPDF · Subscribers
Endorsement – dated September 30, 2015PDF · Subscribers
Order extending the time for filing the proposal to November 18, 2015 – dated September 30, 2015
  • Counsel Aird & Berlis LLP
PDF · Subscribers
Third Report of Richter Advisory Group Inc., in its Capacity as Proposal Trustee – dated September 25, 2015
  • Closing confirmed Closed · 21 Aug 2015 · Nine West Canada LP
  • Purchaser Nine West Canada LP · substantially all of the Company's business and assets · asset sale · closed
  • Sale outcome Sale closed — The Transaction closed on August 21, 2015 following Court approval.
  • Stalking horse Subscribers
PDF · Subscribers
Motion Record (returnable September 30, 2015) – dated September 24, 2015PDF · Subscribers
Approval and Vesting Order – dated August 20, 2015
  • Closing terms Vesting effective upon delivery of the Proposal Trustee's Certificate confirming payment of the Purchase Price, satisfaction/waiver of closing conditions, and completion of the Transaction
  • Order date 20 August 2015
  • Purchaser Nine West Canada LP, by its general partner Jones Canada, Inc. on behalf of Nine West Canada LP · Sherson's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · asset sale · approved
  • Sealed items Confidential Appendices to the Second Report
  • + 1 more extracted fact
PDF · Subscribers
Endorsement – dated August 20, 2015PDF · Subscribers
Order re Assignment of Agreements – dated August 20, 2015
  • Closing terms Assignment effective upon delivery of Proposal Trustee's Assignment Certificate; Purchaser pays Sherson Cure Amount contemporaneously
  • Order date 20 August 2015
  • Purchaser Nine West Canada LP · the rights and obligations of Sherson under certain agreements · asset sale · approved
  • Stalking horse Subscribers
PDF · Subscribers
Second Report of Richter Advisory Group Inc., in its Capacity as Proposal Trustee – dated August 14, 2015
  • Purchaser Nine West Canada LP (related party) · substantially all of the Company's business and assets · asset sale · proposed
  • Recovery outcome Entries: per estimated · Stated on: 2015-08-14 · Table missing:
  • Sale outcome Approval pending — APA executed and Transaction pending court approval; Trustee recommends approval
  • Stalking horse Subscribers
PDF · Subscribers
Affidavit of Ralph Schipani – dated August 13, 2015
  • Counsel Stikeman Elliott LLP
PDF · Subscribers
Motion Record returnable August 20, 2015 – dated August 13, 2015PDF · Subscribers
Endorsement – dated August 12, 2015PDF · Subscribers
Endorsement – dated August 6, 2015PDF · Subscribers
Endorsement – dated July 28, 2015PDF · Subscribers
Order extending the time for filing the proposal to August 6, 2015 – dated July 28, 2015PDF · Subscribers
Amended Order granting Recognition and Relief in Aid of a Foreign Main Proceeding pursuant to 11 U.S.C. par. 105(a), 1517, 1520 and 1521 – dated July 27, 2015PDF · Subscribers
First Report of Richter Advisory Group Inc., in its Capacity as Proposal Trustee – dated July 27, 2015PDF · Subscribers
Motion Record returnable July 28, 2015 – dated July 27, 2015
  • Appointee Richter Advisory Group Inc.
  • Appointee role Proposal Trustee
  • Counsel Aird & Berlis LLP
  • Court ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
  • + 2 more extracted facts
PDF · Subscribers
Notice to Creditors of Intention to make a Proposal – dated July 7, 2015
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Endorsement – Authorization Foreign Representative – dated June 30, 2015PDF · Subscribers
Order – Authorization Foreign Representative – dated June 30, 2015PDF · Subscribers
Certificate of filing of a Notice of Intention to make a Proposal – dated June 29, 2015
  • Appointee RICHTER ADVISORY GROUP INC / RICHTER GROUPE CONSEIL INC.
  • Appointee role Trustee
  • Commencement date 29 June 2015
  • Court file no 31-2010608
  • + 1 more extracted fact
PDF · Subscribers
Motion Record – Authorization Foreign Representatives / Returnable June 29, 2015 – dated June 29, 2015
  • Applicant Sherson Group Inc.
  • Appointee Richter Advisory Group Inc.
  • Appointee role proposal trustee
  • Court SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
  • + 3 more extracted facts
PDF · Subscribers
Application Guide for the Wage Earner Protection ProgramPDF · Subscribers

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

CiteProceedings., “Sherson Group Inc” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/sherson-group-inc

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Sources last checked · summary updated 24 August 2026 · Report a correction · Printed from proceedings.ca/case/sherson-group-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.