125 Ferris Inc. Files NOI Following Loss of Tenant
On July 8, 2024, 125 Ferris Inc., a company with commercial property in North Bay, Ontario, filed a Notice of Intention (“NOI”) under the Bankruptcy and Insolvency Act, disclosing $6.2 million in debts, including $5.9 million to Laurentian Bank.
The filing came after its tenant, North Star Studios, suspended operations and Laurentian Bank formally demanded repayment of its loan. The NOI sets the stage for selling the property, with a target completion date of December 23, 2024. KSV, an advisory, restructuring and valuations firm, has been appointed as the proposal trustee.
Aird & Berlis serves as counsel to KSV, with a team including Kyle Plunkett, Samantha Hans and Christian Delfino (Financial Services).
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BioFull bio
Kyle divides his time between commercial restructuring matters and M&A and financing work, developing a broad practice built on providing practica...
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BioFull bio
Samantha draws on her strong attention to detail to provide pragmatic solutions for her clients.
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BioFull bio
Cristian is an insightful and strategic problem solver.
