On April 20, 2022, TAZARMC Inc. ("Tazarmc") filed a Notice of Intention to Make a Proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act (the "BIA"). KPMG Inc. ("KPMG") consented to act as trustee under the proposal.

The deadline for Tazarmc to file a proposal is May 20, 2022, subject to any extension(s) that may be granted by the Ontario Superior Court of Justice (Commerical List).

On May 13th, 2022, KPMG Inc. as Proposal Trustee filed a report with the Official Receiver pursuant to section 50.4(7)(b) of the BIA as a result of the Proposal Trustee ascertaining that a material adverse change in the Company's projected cash-flow and financial circumstances has occurred.

On May 20th, 2022, pursuant to the NOI filing, Tazarmc filed a Proposal under Part III, Division I of the BIA.

The meeting of creditors will be held virtually on June 9th, 2022 at 1pm using the Microsoft Teams platform. Creditors who wish to participate in the meeting should contact tazarmc@kpmg.ca or cameronrodrigues@kpmg.ca to register.

Contact information

Contact information for the trustee under the proposal proceedings:

tazarmc@kpmg.ca

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