True Leaf Brands, Inc.
Follow- Proceeding
- ProposalPart III, Division I of the Bankruptcy and Insolvency Act
- File
- B-200196
True Leaf Brands, Inc. is the subject of a Division I proposal proceeding under the Bankruptcy and Insolvency Act, commenced 30 April 2020 and filed in the Supreme Court of British Columbia as court file B-200196. True Leaf Investments Corp. is the applicant. The list of creditors owing $250 or more, compiled from the company's books and records as at the date of the notice of intention, records True Leaf Investments Corp. as owing USD 5,840,000 to Lind Asset Management XV, LLC, with the caveat that the books and records may not be complete and accurate and the figure may differ from the creditor's own records. The proceeding remains active.
The court granted an approval and vesting order for the sale to 1273096 B.C. Ltd. Closing terms, as extracted: Closing occurs upon delivery of the Proposal Trustee's Certificate.
The court granted an approval and vesting order for the sale to 1273096 B.C. Ltd. Closing terms, as extracted: Payments to Lind at Closing.
68 earlier updates, back to 30 April 2020 — subscribers.
Debtor
True Leaf Brands, Inc.
Proposal trustee
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Fitzpatrick | Supreme Court of British Columbia | 17 orders, May 2020 – Nov 2020 | 49 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorTrue Leaf Brands, Inc. | Clark Wilson LLP | 11 Jun 2020 | Application · 11 Jun 2020 |
| Interim lender | Stikeman Elliott LLP | 11 Jun 2020 | Application · 11 Jun 2020 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Lind Asset Management XV, LLCas of NOI filing date — Company's books and records may not be complete and accurate; amount may differ from creditor's own books — debtor: True Leaf Investments Corp. | $5.84M USD | 4) Notice of NOI with List of Creditors - True Leaf Investment Corp. |
4 transactions · 2 approved · 2 closed — The Transactions, including the sale of TLI shares to a nominee of InvestorCo, closed on November 16, 2020.Supplemental Sixth Report - True Leaf Brands · 24 Nov 2020
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 4033001 (a Wyoming Corporation)the assets described in the Sale Agreement (the "Purchased Assets") · asset sale · agreement 11 Aug 2020 | Subscribers | Approved28 Aug 2020 | Extension of Stay Order and Approval of Sales… |
| 1273096 B.C. Ltd.the shares of TLC as described in the Sale Agreements (the "Purchased Shares") · share sale · agreement 4 Nov 2020 | not stated | Approved6 Nov 2020 | Approval and Vesting Order - True Leaf Brands |
| 1263815 B.C. Ltd.all the issued and outstanding shares of TLI from TLB · share sale · nominee/assignee: a nominee of InvestorCo | Subscribers | Closed16 Nov 2020 | Supplemental Sixth Report - True Leaf Brands |
| InvestorCoall of the shares of TLC owned by TLI · share sale | not stated | Closed | Supplemental Sixth Report - True Leaf Brands |
Unsecured creditors: a distribution.Under the plan · sanctionedSupplemental Sixth Report - True Leaf Brands · 24 Nov 2020
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | Creditors with Priority Claims | — | paid in full | Under the plansanctionedper the proposal trustee | Report of the Trustee on the Proposal - True Leaf Brands · 7 Oct 2020 |
| Unsecured | — | — | a distribution | Under the plansanctionedper the proposal trustee | Supplemental Sixth Report - True Leaf Brands · 24 Nov 2020 |
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.
| Date | Document | File |
|---|---|---|
Supplemental Sixth Report - True Leaf Brands
| PDF · Subscribers | |
Approval and Vesting Order - True Leaf Brands
| PDF · Subscribers | |
Approval and Vesting Order - True Leaf Investments
| PDF · Subscribers | |
Order Approving Proposal - True Leaf Cannabis
| PDF · Subscribers | |
Order Approving Proposal - True Leaf Investments
| PDF · Subscribers | |
Order for Adjournment of Proposal Approval - True Leaf Brands
| PDF · Subscribers | |
Sixth Report of the Proposal Trustee - TLB
| PDF · Subscribers | |
Sixth Report of the Proposal Trustee - TLI
| PDF · Subscribers | |
Notice of Application for Approval of Proposal - True Leaf Brands
| PDF · Subscribers | |
Notice of Application for Approval of Proposal - True Leaf Cannabis
| PDF · Subscribers | |
Notice of Application for Approval of Proposal - True Leaf Investments
| PDF · Subscribers | |
Report of Trustee's Preliminary Administration - True Leaf Pet
| PDF · Subscribers | |
| Notice of Hearing of Application for Court Approval of Proposal - True Leaf Brands | PDF · Subscribers | |
| Notice of Hearing of Application for Court Approval of Proposal - True Leaf Investments | PDF · Subscribers | |
| Notice of Hearing of Application for Court Approval of Proposal - True Leaf Cannabis | PDF · Subscribers | |
| Notice to Creditors - True Leaf Pet | PDF · Subscribers | |
Notice to Creditors - True Leaf Investments
| PDF · Subscribers | |
Report of the Trustee on the Proposal - True Leaf Investments
| PDF · Subscribers | |
Notice to Creditors - True Leaf Brands
| PDF · Subscribers | |
Report of the Trustee on the Proposal - True Leaf Brands
| PDF · Subscribers | |
Proposal - True Leaf Investments Corp.
| PDF · Subscribers | |
Proposal - True Leaf Brands Inc.
| PDF · Subscribers | |
Notice to Creditors - True Leaf Cannabis
| PDF · Subscribers | |
Report of the Trustee on the Proposal - True Leaf Cannabis
| PDF · Subscribers | |
Proposal - True Leaf Cannabis
| PDF · Subscribers | |
Extension of Stay Order - True Leaf Brands
| PDF · Subscribers | |
Extension of Stay Order - True Leaf Cannabis
| PDF · Subscribers | |
Extension of Stay Order - True Leaf Investments
| PDF · Subscribers | |
Extension of Stay Order - True Leaf Pets
| PDF · Subscribers | |
Extension of Stay Order and Approval of Sales Transaction - True Leaf Pets
| PDF · Subscribers | |
Fifth Report of the Proposal Trustee
| PDF · Subscribers | |
Notice of Application for an Extension of the Stay - True Leaf Brands
| PDF · Subscribers | |
Notice of Application for an Extension of the Stay - True Leaf Cannabis
| PDF · Subscribers | |
Notice of Application for an Extension of the Stay - True Leaf Investments
| PDF · Subscribers | |
| Notice of Application for an Extension of the Stay and Approval of Sales Transaction - True Leaf Pets | PDF · Subscribers | |
Fourth Report of the Proposal Trustee
| PDF · Subscribers | |
| Notice of Application for an Extension of the Stay - True Leaf Brands Inc. | PDF · Subscribers | |
| Notice of Application for an Extension of the Stay - True Leaf Cannabis Inc. | PDF · Subscribers | |
| Notice of Application for an Extension of the Stay - True Leaf Investments Corp. | PDF · Subscribers | |
| Notice of Application for an Extension of the Stay - True Leaf Pet Inc. | PDF · Subscribers | |
1) Extension of Stay Order - True Leaf Brands Inc.
| PDF · Subscribers | |
2) Extension of Stay Order - True Leaf Cannabis Inc.
| PDF · Subscribers | |
3) Extension of Stay Order - True Leaf Investments Corp.
| PDF · Subscribers | |
4) Extension of Stay Order - True Leaf Pet Inc.
| PDF · Subscribers | |
Third Report of the Proposal Trustee
| PDF · Subscribers | |
1) Notice of Application for an Extension of the Stay - True Leaf Brands Inc.
| PDF · Subscribers | |
2) Notice of Application for an Extension of the Stay - True Leaf Pet Inc.
| PDF · Subscribers | |
3) Notice of Application for an Extension of the Stay - True Leaf Cannabis Inc.
| PDF · Subscribers | |
4) Notice of Application for an Extension of the Stay - True Leaf Investment Corp.
| PDF · Subscribers | |
1) Sales Process Order - True Leaf Investments Corp.
| PDF · Subscribers | |
2) Sales Process Order - True Leaf Cannabis Inc.
| PDF · Subscribers | |
3) Sales Process Order - True Leaf Pet Inc.
| PDF · Subscribers | |
4) Sales Process Order - True Leaf Brands Inc.
| PDF · Subscribers | |
| 1) Notice of Application for a Sales Process Order - True Leaf Brands Inc. | PDF · Subscribers | |
| 2) Notice of Application for a Sales Process Order - True Leaf Pet Inc. | PDF · Subscribers | |
| 3) Notice of Application for a Sales Process Order - True Leaf Cannabis Inc. | PDF · Subscribers | |
| 4) Notice of Application for a Sales Process Order - True Leaf Investments Corp. | PDF · Subscribers | |
Second Report of the Proposal Trustee
| PDF · Subscribers | |
1) Order - True Leaf Brands Inc. Interim Facility and Financing Charge
| PDF · Subscribers | |
2) Order - True Leaf Pet Inc. Interim Facility and Financing Charge
| PDF · Subscribers | |
3) Order - True Leaf Cannabis Inc. Interim Facility and Financing Charge
| PDF · Subscribers | |
4) Order - True Leaf Investment Corp. Interim Facility and Financing Charge
| PDF · Subscribers | |
| 1) Notice of Application of True Leaf Brands Inc. - Approval of Financing and Extension | PDF · Subscribers | |
2) Notice of Application of True Leaf Cannabis Inc. - Approval of Financing and Extension
| PDF · Subscribers | |
| 3) Notice of Application of True Leaf Pet Inc. - Approval of Financing and Extension | PDF · Subscribers | |
4) Notice of Application of True Leaf Investments Corp. - Approval of Financing and Extension
| PDF · Subscribers | |
First Report of the Proposal Trustee
| PDF · Subscribers | |
| 1) Notice of NOI with List of Creditors - True Leaf Brands Inc. | PDF · Subscribers | |
| 2) Notice of NOI with List of Creditors - True Leaf Pet Inc. | PDF · Subscribers | |
| 3) Notice of NOI with List of Creditors - True Leaf Cannabis Inc. | PDF · Subscribers | |
4) Notice of NOI with List of Creditors - True Leaf Investment Corp.
| 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., “True Leaf Brands, Inc.” (Proposal), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/true-leaf-brands-inc