SKZ CORPORATE ENGAGEMENTS

SMK Speedy International Inc.

SMK Speedy International Inc. was a national chain of automotive service centres operating as Speedy Muffler King.

On November 8, 2007, SMK Speedy International Inc. (“Speedy” or the “Company”) applied to the Ontario Superior Court of Justice (the “Court”) for an order pursuant to the Companies’ Creditors Arrangement Act (“CCAA”), which order was granted by Mr. Justice Campbell (the “Initial Order”). Mintz & Partners Limited was appointed as monitor (the “Monitor”) pursuant to the Initial Order.

The Monitor was authorized, inter alia, to supervise a process to seek offers for the purchase of 21 corporate stores, and ultimately other assets of Speedy, pursuant to an endorsement made by the Court on November 21, 2007 and an Order of the Court dated November 30, 2007.

Upon application of 2155489 Ontario Inc. (“215”), Shiner Kideckel Zweig Inc. (“SKZ”) was appointed as interim receiver and receiver and manager (the “Receiver”), of all of the assets, undertakings and properties of the Company by order of Mr. Justice C. Campbell of the Court made on December 4, 2007 (the “Appointment Order”). The Appointment Order specifically authorized and directed the Receiver to continue with the sales process commenced by the Company under the CCAA proceedings. On December 4, 2007, Mr. Justice Campbell made an order, effective immediately prior to the Appointment Order, terminating the CCAA proceedings.

On December 14, 2007, the Court granted the Receiver’s motion and made an approval and vesting order (“Vesting Order”) in respect of the purchase of various assets of the Company by Forum Leasehold Partners Inc. The transaction closed on December 21, 2007.

On January 30, 2008, an assignment pursuant to the Bankruptcy and Insolvency Act was filed for the Company by Shiner Kideckel Zweig Inc. the Court Appointed interim receiver and receiver and manager pursuant to an Order of the Ontario Superior Court of Justice dated December 4, 2007. SKZ was appointed the Trustee by the Official Receiver.

Court Documents

Initial Appointment Order

Vesting Order

Receiver's Discharge Order

Receivership Proceedings

Receiver’s 1st report to Court

Receiver’s 2nd report to Court

Notice to Creditors of Receivership

Trustee Reports

Trustee’s Preliminary report

Bankruptcy Proceedings

Notice to creditors of Bankruptcy and First Meeting of Creditors

Contact Information

If you require further information, please contact Joel Kideckel at 289.695.4380.
 

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