On October 30, 2023, the Ontario Superior Court of Justice (Commercial List) (the "Court") issued an order (the "Initial Order") pursuant to the Companies' Creditors Arrangement Act ("CCAA"). The Initial Order provided for certain relief, including a stay of proceedings against Ignite Holdings Inc., Ignite Services Inc., and Ignite Insurance Corporation (collectively, the “Ignite Group") and ordered that KPMG Inc. be appointed as Court-appointed monitor of the Applicants (in such capacity, the “Monitor”).

On November 9, 2023, the Court issued an Amended and Restated Initial Order, which among other things, extended the stay of proceedings to January 31, 2024.

Priority Claims Order

On November 29, 2023, the Court issued the Priority Claims Order, which among other things,  approved the Priority Claims Procedure to identify, quantify and resolve any Priority Claims. The related proof of claim form can be found below and must be received by the Applicants and the Monitor before 5:00 p.m. (Toronto time) on January 11, 2024.

Share purchase transaction

On December 1, 2023, Southampton Financial Inc. (“Southampton”) acquired 100% of the shares of Ignite Services Inc. pursuant to the share purchase agreement between Southampton and Ignite Holdings Inc., and as approved by the Court pursuant to the Approval and Reverse Vesting Order. A copy of the Monitor’s Certificate can be found below.

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Frequently asked questions

General CCAA FAQs [PDF 197 KB]
Employee CCAA FAQs [PDF 171 KB]
Vendor and Supplier CCAA FAQs [PDF 165 KB]

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