On December 24, 2024, Brands International Corporation (“Brands International" or the "Company") filed a Notice of Intention to Make a Proposal ("NOI") under subsection 50.4(1) of the Bankruptcy and Insolvency Act (the "BIA"). KPMG Inc. ("KPMG") consented to act as trustee under the proposal.
Notice of intention to make a proposal
Bankruptcy
On April 15, 2025, Brands International Corporation was deemed to have made an assignment in bankruptcy pursuant to section 50.4(8)(a) of the BIA as the Company failed to file a proposal within the prescribed time period. KPMG was appointed as the trustee-in-bankruptcy (the “Trustee”) of the Estate by the Official Receiver, subject to affirmation by the creditors of Trustee’s appointment or substitution of another Trustee by the creditors.
The First Meeting of Creditors of Brands International will be held by video/teleconference on the 2nd day of May, 2025 at 10:00 AM Eastern Time. Conferencing details will be made available upon request.
