Richter Advisory Group Inc.

Richter Advisory Group Inc.

June 15, 2016 17:02 ET

In the Matter of the Amended Plan of Compromise of 7098961 Canada Inc. (Formerly Know as Beyond The Rack Enterprises Inc.)

MONTREAL, QUEBEC--(Marketwired - June 15, 2016) - On March 24, 2016, the Quebec Superior Court (sitting as Tribunal designated under the Companies' Creditors Arrangement Act ("CCAA")) (the "Court") issued an order granting 7098961 Canada Inc. (formerly known as Beyond The Rack Enterprises Inc.) (the "Debtor") protection under the CCAA (the "Order"). Richter Advisory Group Inc. is the Court-Appointed Monitor during the period the Order is in force (the "Monitor").

On May 24, 2016, an order was issued to approve the sale of substantially all the operating assets of the Debtor to 9721444 Canada Inc. (the "Purchaser") including its website

On June 13, 2016, the Debtor has filed with the Court, an Amended Plan of Compromise (the "Amended Plan") in settlement of all claims existing as of March 23, 2016.

On the same day, an order was rendered (the "Amended C&M Procedure Order") for the process by which all Creditors must submit their Proof of Claims to the Monitor by July 18, 2016 (the "Claims Bar Date") and to hold a Meeting of Creditors on August 3, 2016 in order to vote on the Amended Plan (the "Meeting of Creditors").

All capitalized terms not otherwise defined in this Press Release shall bear the meaning given to them in the Amended C&M Procedure Order, which is posted on Richter Advisory Group Inc.'s website (the "Monitor's Website"), at the following address:


Any Person who believes he, she, or it has a Claim against the Debtor, its Directors and/or its Officers shall submit his, her or its Claim in a Proof of Claim (which can be found on the Monitor's Website), except in the case of an Excluded Claim (which includes Claims of any Person who provided goods and/or services to the Debtor on or after March 24, 2016).

All Creditors of the Debtor must submit their Proofs of Claim to the Monitor by email, facsimile transmission, mail, registered mail or courier so that the Monitor actually receives such Proofs of Claim by no later than 5:00 p.m. (EST) on July 18, 2016, or, for Creditors with Restructuring Claims arising after July 18, 2016, ten (10) days after the date of receipt by the Creditor of a notice of resiliation, repudiation or termination of the contract, lease, employment agreement or other agreement, at the following address:

Richter Advisory Group Inc.
Court-Appointed Monitor of
7098961 Canada Inc. (formerly known as Beyond The Rack Enterprises Inc.)
1981 McGill College Avenue
Montreal (Quebec) H3A 0G6
Fax: 514-908-3797 or 1-866-773-2196



Creditors who have submitted a Proof of Claim and proven their Claim in the manner and within the time specified in the Amended C&M Procedure Order are invited to attend the Meeting of Creditors of the Debtor being held on August 3, 2016 at 10:00 a.m. (EST) at 1981 McGill College Avenue, 11th Floor, Montréal QC H3A 0G6. At this meeting, these Creditors will be asked to consider and vote on the Amended Plan proposed by the Debtor pursuant to the Companies' Creditors Arrangement Act, whether in person or by proxy. If the Amended Plan is approved by the required majority of Affected Creditors, a further motion will be brought before the Court on August 5, 2016 seeking the sanction of the Amended Plan.

The Amended Plan, Proof of Claims, information relating to the meetings, and proxy forms for voting in respect of the Amended Plan are available on the Monitor's Website.


If you are a customer having either an unfulfilled order or a store credit dated prior to March 24, 2016, and an amount is owing to you, you may communicate with your local consumer protection office or bureau to enquire about your rights, should you deem it necessary.

Dated at Montreal, this 15th day of June 2016.

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