#Filing
Order (I) approving Final Report and (II) granting Motion to close Chapter 15 Case – dated January 21, 2016 — Application / notice of application
Sherson Group Inc
FollowActive
- Proceeding
- NOIsubsection 50.4(1) of the Bankruptcy and Insolvency Act
- File
- 31-2010608
Filings held29
Last activity21 Jan 2016
On the record4,102 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.
FormProof of Claim
Proceedings AIAsk this case — answers cite the filings
Case updates28 dated entries · 1 undated
#Report
Trustee’s Report to the First Meeting of Creditors on Preliminary Administration – dated December 7, 2015 — Court officer report
#Claims
Notice of Bankruptcy, First Meeting of Creditors – dated November 26, 2015 — Notice to creditors
#Filing
Motion Record (returnable September 30, 2015) – dated September 24, 2015 — Application / notice of application
#Report
Third Report of Richter Advisory Group Inc., in its Capacity as Proposal Trustee – dated September 25, 2015 — Court officer report
#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.
#Order
Order re Assignment of Agreements – dated August 20, 2015 was filed.
Source: Order re Assignment of Agreements – dated August 20, 2015
#Filing
Motion Record returnable August 20, 2015 – dated August 13, 2015 — Application / notice of application
#Report
Second Report of Richter Advisory Group Inc., in its Capacity as Proposal Trustee – dated August 14, 2015 — Court officer report
#Filing
Motion Record returnable July 28, 2015 – dated July 27, 2015 — Application / notice of application
#Report
First Report of Richter Advisory Group Inc., in its Capacity as Proposal Trustee – dated July 27, 2015 — Court officer report
#Claims
Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 — Notice to creditors
#Order
Endorsement – Authorization Foreign Representative – dated June 30, 2015 — Endorsement / reasons
#Filing
Sherson Group Inc. filed a notice of intention to make a proposal on 29 June 2015.
Source: Certificate of filing of a Notice of Intention to make a Proposal – dated June 29, 2015
#Filing
Motion Record – Authorization Foreign Representatives / Returnable June 29, 2015 – dated June 29, 2015 — Application / notice of application
Undated filings1 — no date appears on the document · show
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Parties
Debtor
Sherson Group Inc
Proposal trustee
Richter
Bench and counselPer the orders and service lists on the record
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorSherson Group Inc | Aird & Berlis LLP | 28 Jul 2015 | Application · 28 Jul 2015 |
| CreditorNine West Canada Ltd | Stikeman Elliott LLP | 13 Aug 2015 | Affidavit · 13 Aug 2015 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Nine West Group Incas of NOI filing date — Address in USA; largest creditor claim — debtor: Sherson Group Inc. | $19.1M USD | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Bank of Montreal (Revolver Acct.) · in 279 casesas of NOI filing date — Possible secured facility (revolver); no security explicitly stated in this listing — debtor: Sherson Group Inc. | $3.92M | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Stephen Applebaum Inc.as of NOI filing date — Same address as individual Stephen Applebaum entry; possible related party — debtor: Sherson Group Inc. | $3.4M | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | BDC Capital · in 9 casesas of NOI filing date — Possible secured lender; no security explicitly stated in this listing — debtor: Sherson Group Inc. | $3.01M | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Bank of Montreal (Term Loan) · in 279 casesas of NOI filing date — Possible secured facility (term loan); no security explicitly stated in this listing — debtor: Sherson Group Inc. | $778K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Receiver General, Canada Customs & Revenue Agencyas of NOI filing date — Duty & GST; deemed trust class (CRA indebtedness) — debtor: Sherson Group Inc. | $507K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Stephen Applebaumas of NOI filing date — Individual creditor; possible related party (name matches Stephen Applebaum Inc. entry below) — debtor: Sherson Group Inc. | $415K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | DHL Global Forwarding (Canada) · in 11 casesas of NOI filing date — debtor: Sherson Group Inc. | $336K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Purolator Courier Ltd. · in 53 casesas of NOI filing date — debtor: Sherson Group Inc. | $120K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Dama Construction · in 3 casesas of NOI filing date — debtor: Sherson Group Inc. | $112K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Richter Advisory Group Inc.as of NOI filing date — Richter is also the proposal trustee; pre-filing claim listed — debtor: Sherson Group Inc. | $64.1K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Bldg. No.4 Marketing Incas of NOI filing date — debtor: Sherson Group Inc. | $62.8K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Eco Art Limitedas of NOI filing date — debtor: Sherson Group Inc. | $50.3K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | AMEX Bank of Canada · in 48 casesas of NOI filing date — debtor: Sherson Group Inc. | $45K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Ministere du Revenu du Quebec · in 23 casesas of NOI filing date — Revenu Quebec source deductions/payroll - deemed trust class — debtor: Sherson Group Inc. | $33.3K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Minister of Finance (EHT Payable) · in 71 casesas of NOI filing date — Provincial government payable (Employer Health Tax) — debtor: Sherson Group Inc. | $29.1K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | ABS Information Systems Inc.as of NOI filing date — debtor: Sherson Group Inc. | $21.2K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Ont. Shoe Travellers Assoc.as of NOI filing date — debtor: Sherson Group Inc. | $18.6K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Proforma · in 3 casesas of NOI filing date — debtor: Sherson Group Inc. | $11K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | WSIB · in 51 casesas of NOI filing date — Workplace Safety and Insurance Board; potential preferred status not stated — debtor: Sherson Group Inc. | $10.8K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Multidev Technologies Incas of NOI filing date — debtor: Sherson Group Inc. | $9.64K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Garfinkle, Biderman LLPas of NOI filing date — debtor: Sherson Group Inc. | $9.31K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Northwest Atlantic · in 2 casesas of NOI filing date — debtor: Sherson Group Inc. | $9.04K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | G.L. Smith Plan. & Design Inc.as of NOI filing date — debtor: Sherson Group Inc. | $8.7K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Ernst & Young Orendaas of NOI filing date — debtor: Sherson Group Inc. | $8.07K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Riocan Holdings (Quebec) Inc. · in 5 casesas of NOI filing date — debtor: Sherson Group Inc. | $6.72K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | A La Carte At The Gardineras of NOI filing date — debtor: Sherson Group Inc. | $6.62K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | National Shoe Specialtiesas of NOI filing date — debtor: Sherson Group Inc. | $6.43K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Jones Jewelry Group Incas of NOI filing date — debtor: Sherson Group Inc. | $6.38K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Doverco Inc. · in 5 casesas of NOI filing date — debtor: Sherson Group Inc. | $6.25K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Staples Advantage · in 15 casesas of NOI filing date — debtor: Sherson Group Inc. | $6.09K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Stingray360as of NOI filing date — debtor: Sherson Group Inc. | $5.44K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Delmar International Inc. · in 9 casesas of NOI filing date — debtor: Sherson Group Inc. | $5.33K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Federal Express Canada Ltd. · in 69 casesas of NOI filing date — debtor: Sherson Group Inc. | $4.82K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Sunray Electronicsas of NOI filing date — debtor: Sherson Group Inc. | $4.22K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Forward Signs Incas of NOI filing date — debtor: Sherson Group Inc. | $3.97K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Bell Canada · in 298 casesas of NOI filing date — debtor: Sherson Group Inc. | $3.72K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Remco Forwarding Limited · in 5 casesas of NOI filing date — debtor: Sherson Group Inc. | $3.58K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Alliance Air Systems West Inc.as of NOI filing date — debtor: Sherson Group Inc. | $3.44K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Imperial Oil · in 29 casesas of NOI filing date — debtor: Sherson Group Inc. | $3.31K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Waste Management of Canada · in 4 casesas of NOI filing date — debtor: Sherson Group Inc. | $3.16K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Primaris Mgnt Inc. (Lundy's Lane Port.)as of NOI filing date — debtor: Sherson Group Inc. | $3.14K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Omnitrans Inc · in 3 casesas of NOI filing date — debtor: Sherson Group Inc. | $2.92K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Canada Post Corporation · in 34 casesas of NOI filing date — debtor: Sherson Group Inc. | $2.54K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Clean Shine · in 9 casesas of NOI filing date — debtor: Sherson Group Inc. | $2.48K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Le Bootique Incas of NOI filing date — debtor: Sherson Group Inc. | $2.44K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Phynix Inc.as of NOI filing date — debtor: Sherson Group Inc. | $2.3K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Metro Pallet Inc. · in 2 casesas of NOI filing date — debtor: Sherson Group Inc. | $1.98K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Johnston Equipment · in 10 casesas of NOI filing date — debtor: Sherson Group Inc. | $1.56K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Delta B Electric Inc. · in 2 casesas of NOI filing date — debtor: Sherson Group Inc. | $1.56K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Accountemps · in 11 casesas of NOI filing date — debtor: Sherson Group Inc. | $1.5K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Mapuches Canada Incas of NOI filing date — debtor: Sherson Group Inc. | $1.41K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Tyco Integrated Fire & Security CDA Inc.as of NOI filing date — debtor: Sherson Group Inc. | $1.11K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Garda World/G4S Cash Sol.(CDA) Ltdas of NOI filing date — debtor: Sherson Group Inc. | $1.03K | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | GXS Canada Inc · in 2 casesas of NOI filing date — debtor: Sherson Group Inc. | $849 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Target Print Inc.as of NOI filing date — debtor: Sherson Group Inc. | $729 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Gunnebo Canada Inc · in 4 casesas of NOI filing date — debtor: Sherson Group Inc. | $729 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | OP Trust Retail Incas of NOI filing date — debtor: Sherson Group Inc. | $688 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Sunley Fashions S.Aas of NOI filing date — debtor: Sherson Group Inc. | $517 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Omni Ventilation Inc. · in 2 casesas of NOI filing date — debtor: Sherson Group Inc. | $466 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Rogers Payment Centre · in 4 casesas of NOI filing date — debtor: Sherson Group Inc. | $464 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Orkin Canada Corporation · in 50 casesas of NOI filing date — debtor: Sherson Group Inc. | $455 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | UPS Canada · in 92 casesas of NOI filing date — debtor: Sherson Group Inc. | $452 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Ottawa Police Service · in 4 casesas of NOI filing date — debtor: Sherson Group Inc. | $405 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Cintas Canada Ltd #827as of NOI filing date — debtor: Sherson Group Inc. | $404 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Comco Systemsas of NOI filing date — debtor: Sherson Group Inc. | $399 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Crown Fire 1704222 Ontario Incas of NOI filing date — debtor: Sherson Group Inc. | $385 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Goodbye Graffiti · in 2 casesas of NOI filing date — debtor: Sherson Group Inc. | $341 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
| Unsecured | Canadian Springs · in 32 casesas of NOI filing date — debtor: Sherson Group Inc. | $315 | Notice to Creditors of Intention to make a Proposal – dated July 7, 2015 |
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
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Nine West Canada LPthe rights and obligations of Sherson under certain agreements · asset sale · agreement 6 Aug 2015 | Sealedconsideration included (i) a cash payment sufficient to satisfy secured amounts owed to BMO and BDC and provide partial recovery to SAI (plus a $50,000 payment), (ii) assumption of certain Sherson liabilities, and (iii) payments to the Proposal Trustee | Closed21 Aug 2015 | Trustee’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
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | BDC Capital Inc. (BDC) | — | paid in full | Finalper the trustee | Trustee’s Report to the First Meeting of Creditors on Preliminary… · 7 Dec 2015 |
| Secured | Bank of Montreal (BMO) | — | paid in full | Finalper the trustee | Trustee’s Report to the First Meeting of Creditors on Preliminary… · 7 Dec 2015 |
| Secured | Stephen Applebaum Inc. (SAI) | $3.4M | shortfall | Finalper the trustee | Trustee’s Report to the First Meeting of Creditors on Preliminary… · 7 Dec 2015 |
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee’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.
Documents
29 filings
| Date | Document | File |
|---|---|---|
| Order (I) approving Final Report and (II) granting Motion to close Chapter 15 Case – dated January 21, 2016 | ||
| Notice of Wage Earner Protection Program Act (“WEPPA”) | ||
Trustee’s Report to the First Meeting of Creditors on Preliminary Administration – dated December 7, 2015
| ||
| Notice of Bankruptcy, First Meeting of Creditors – dated November 26, 2015 | ||
| Certificate of Assignment – dated November 19, 2015 | ||
| Proof of Claim | ||
Order extending the time for filing the proposal to November 18, 2015 – dated September 30, 2015
| ||
| Endorsement – dated September 30, 2015 | ||
| Motion Record (returnable September 30, 2015) – dated September 24, 2015 | ||
Third Report of Richter Advisory Group Inc., in its Capacity as Proposal Trustee – dated September 25, 2015
| ||
Approval and Vesting Order – dated August 20, 2015
| ||
| Endorsement – dated August 20, 2015 | ||
| Motion Record returnable August 20, 2015 – dated August 13, 2015 | ||
Order re Assignment of Agreements – dated August 20, 2015
| ||
Second Report of Richter Advisory Group Inc., in its Capacity as Proposal Trustee – dated August 14, 2015
| ||
Affidavit of Ralph Schipani – dated August 13, 2015
| ||
| Endorsement – dated August 12, 2015 | ||
| Endorsement – dated August 6, 2015 | ||
| Order extending the time for filing the proposal to August 6, 2015 – dated July 28, 2015 | ||
| Endorsement – dated July 28, 2015 | ||
Motion Record returnable July 28, 2015 – dated July 27, 2015
| ||
| 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, 2015 | ||
| First Report of Richter Advisory Group Inc., in its Capacity as Proposal Trustee – dated July 27, 2015 | ||
Notice to Creditors of Intention to make a Proposal – dated July 7, 2015
| ||
| Endorsement – Authorization Foreign Representative – dated June 30, 2015 | ||
| Order – Authorization Foreign Representative – dated June 30, 2015 | ||
Certificate of filing of a Notice of Intention to make a Proposal – dated June 29, 2015
| ||
Motion Record – Authorization Foreign Representatives / Returnable June 29, 2015 – dated June 29, 2015
| ||
| Application Guide for the Wage Earner Protection Program | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Sherson Group Inc” (NOI), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/sherson-group-inc