Notice of intention to make a proposal
On August 14, 2023, Datatax Business Services Limited ("Datatax") 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.
On August 17, 2023, the Ontario Superior Court of Justice (Commercial List) (the “Court”) granted an order approving, among other things, (i) a sale solicitation process in respect of business and assets of Datatax (the “SSP”), including a description of the bidding procedures (the “Bidding Procedures”) to be used in connection therewith and (ii) an asset Purchase Agreement dated August 11, 2023 between Datatax and 2872802 Ontario Inc. for the purpose of acting as the stalking horse sale agreement (the “Stalking Horse Bid”) for purposes of the SSP, subject to higher or otherwise better offers. In accordance with the Bidding Procedures, the deadline for Qualified Bids to be submitted has been set for September 29, 2023 , at 12:00 p.m EST (the "Bid Deadline"). Datatax was granted an extension of the time to file a proposal up to and including October 28, 2023.
On October 17, 2023, the company filed Articles of Amendment under the Business Corporations Act amending the corporatation name from Datatax Business Services Limited to Old DBSL Ltd.
Bankruptcy
On October 24, 2023, Old DBSL Ltd. was deemed to have made an assignment in bankruptcy pursuant to section 50.4(8)(a) of the Act as the proposal was not filed. The Proposal Trustee was appointed as the trustee-in-bankruptcy (the “Trustee”) of the Estate of the Bankrupt 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 Old DBSL Ltd. will be held by video/teleconference on the 10th day of November, 2023 at 10:00 AM Eastern Time. Conferencing details will be made available upon request.
Contact information
old-dbsl@kpmg.ca
Toll free within North America:
1-866-834-2280
Local Phone Number:
514-840-2598
NOI documents
Certificate for the Notice of Intention to Make a Proposal (NOI) [PDF 71 KB]
Creditor Package [PDF 255 KB]
Termination Certificate - 2023-10-23 [PDF 283 KB]
Motion materials
Motion Record - 2023-08-15 - Part 1 [PDF 8.7 MB]
Motion Record - 2023-08-15 - Part 2 [PDF 9 MB]
Motion Record - 2023-08-15 - Part 3 [PDF 7.6 MB]
Factum - 2023-08-16 [PDF 273 KB]
Motion Record - Moving Party - Datatax - 2023-10-04 [PDF 2.5 MB]
Factum - Moving Party-Datatax - 2023-10-10 [PDF 616 KB]
Vesting Certificate - Proposal Trustee - KPMG Inc. - Court Estate File No. 31-2975175 - 2023-10-16 [PDF 309 KB]
Service list
Service List - Datatax - 2023-10-05 [PDF 124 KB]
Sale solicitation process
Teaser [PDF 244 KB]
Non-Disclosure Agreement [PDF 249 KB]
Court orders
Order - 2023-08-17 - SEALED [PDF 615 KB]
Endorsement - 2023-08-17 [PDF 388 KB]
Approval and Vesting Order - Moving Party-Datatax - 2023-10-11 [PDF 1.6 MB]
Distribution Termination and Fee Approval Order - Moving Party-Datatax - 2023-10-11 [PDF 336 KB]
Endorsement of Cavanagh J. - 2023-10-11 [PDF 331 KB]
Proposal Trustee's reports
First Report of the Proposal Trustee - 2023-08-16 [PDF 1.7 MB]
Second Report of the Proposal Trustee - 2023-10-05 [PDF 3.4MB]
Bankruptcy documents
Certificate of Assignment [PDF 73KB]
Notice to Creditors [PDF 543KB]
Proof of Claim [PDF 38KB]
Proxy [PDF 22KB]
Connect with us
Stay up to date with what matters to you
Gain access to personalized content based on your interests by signing up today
Connect with us
- Find office locations kpmg.findOfficeLocations
- kpmg.emailUs
- Social media @ KPMG kpmg.socialMedia