Talon International Inc. et al

Talon International Inc. and related debtors (the Nominees) were placed in court-appointed receivership in Ontario on November 1, 2016 under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority, in the Ontario Superior Court of Justice; the proceeding is now closed. The Receiver reported fixed assets of the Property at a book value of $350,659,378 as at September 30, 2016, taken from unaudited financial statements of Talon International Inc. that it did not audit, review or verify, and on which it offered no view of realizable value. Security over the Property was held by JCF Capital ULC, owed approximately $301,021,425 as of September 29, 2016, Midland Resources Holding Limited, owed approximately $24,259,764, Royal Bank of Canada, owed approximately $2,896, and five further secured creditors whose claim amounts were not stated. An unsecured creditors listing as of November 8, 2016 was led by Condo Corp - TSCC# 2267 at $8,905,554.54 and Condo Corp-Residence-TSCC#2279 at $1,347,820.08.