The Good Fat Co. Ltd.
- Proceeding
- NOIsubsection 50.4 (1) of the Bankruptcy and Insolvency Act
- File
- BK-24-03026717-0031
- Industry
- Manufacturing · Food & beverage manufacturing
The Good Fat Co. Ltd. filed a notice of intention to make a proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act on January 2, 2024, in the Ontario Superior Court of Justice (Commercial List), with Richter Inc. as Licensed Insolvency Trustee. A court officer's report records the company's bankruptcy as effective February 1, 2024. Court file no. 31-3026717.
A claims procedure has been established — see the order for deadlines.
Notice of Bankruptcy, First Meeting of Creditors – dated February 7, 2024 — Notice to creditors
The court granted an approval and vesting order for the sale to 1000747000 Ontario Inc. Closing terms, as extracted: Vesting effective upon delivery of the Proposal Trustee's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of the Transaction.
Motion Record (Returnable January 16, 2024) – dated January 12, 2024 — Application / notice of application
Notice to Creditors of Intention to Make a Proposal – dated January 9, 2024 — Notice to creditors
Records the filing of a notice of intention to make a proposal on January 2, 2024.
Source: Certificate of Filing of a Notice of Intention to Make a Proposal – dated January 2, 2024
Debtor
The Good Fat Co. Ltd.
Proposal trustee
Richter
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 3 orders, Jan 2024 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorThe Good Fat Co. Ltd. | Aird & Berlis LLP | 16 Jan 2024 | Order · 16 Jan 2024 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Export Development Canada (EDC) · in 106 cases5M Debenture and 7M Convertible Subordinated Debenture; fourth-ranking secured debt — Comprised of $5,000,000 debenture principal + $369,863 accrued interest, and $7,000,000 convertible debenture (principal only, no interest accrual per document). Also stated elsewhere as owed approximately $14 million (excluding LG amounts) as at Nov 30, 2023, and 'in excess of $12.3 million (or $14.3 million if subrogated claim is also secured)'. — debtor: The Good Fat Co. Ltd. · as of 30 Nov 2023 | $12.4M | First Report of Richter Inc. – dated January 15, 2024 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
85 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans2 transactions · 2 closed — the Transaction closed on January 30, 2024Trustee’s Report to the First Meeting of Creditors on Preliminary… · 20 Feb 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1000747000 Ontario Inc.GFC's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · asset sale · agreement 29 Dec 2023 | Subscribers | Closed30 Jan 2024 | Proposal Trustee’s Certificate – dated January… |
| 100747000 Ontario Inc.substantially all the Company's assets · asset sale · agreement 29 Dec 2023 | Subscribers | Closed30 Jan 2024 | Trustee’s Report to the First Meeting of… |
Unsecured creditors: a distribution.EstimatedFirst Report of Richter Inc. · 15 Jan 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | secured creditors (EDC and InvestEco) | listed | shortfall | Estimatedper the trustee | Trustee’s Report to the First Meeting of Creditors on Preliminary… · 20 Feb 2024 |
| Unsecured | investors in the 2023 Notes | — | conditional | Estimatedper the trustee | First Report of Richter Inc. · 15 Jan 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.
3 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
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’s Report to the First Meeting of Creditors on Preliminary Administration – dated February 20, 2024
| PDF · Subscribers | |
Registration Form for the First Meeting of Creditors
| PDF · Subscribers | |
Notice of Bankruptcy, First Meeting of Creditors – dated February 7, 2024
| PDF · Subscribers | |
Certificate of Appointment – dated February 1, 2024
| PDF · Subscribers | |
| Proof of Claim Form | PDF · Subscribers | |
Proposal Trustee’s Certificate – dated January 30, 2024
| PDF · Subscribers | |
Approval and Vesting Order – dated January 16, 2024
| PDF · Subscribers | |
Endorsement – dated January 16, 2024
| PDF · Subscribers | |
Order – dated January 16, 2024
| PDF · Subscribers | |
First Report of Richter Inc. – dated January 15, 2024
| PDF · Subscribers | |
Motion Record (Returnable January 16, 2024) – dated January 12, 2024
| PDF · Subscribers | |
Notice to Creditors of Intention to Make a Proposal – dated January 9, 2024
| PDF · Subscribers | |
Certificate of Filing of a Notice of Intention to Make a Proposal – dated January 2, 2024
| 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., “The Good Fat Co. Ltd.” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/the-good-fat-co-ltd