Update on Tender Choice Foods [Canadian Business Journal (Canada)]
HSBC HOLDINGS (HSEA)
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Source: Canadian Business Journal
Update on Tender Choice Foods TORONTO, Dec. 15, 2017 (GLOBE NEWSWIRE) — HSBC Bank Canada (“HSBC”), as administrative agent pursuant to the Tender Choice Foods credit facility dated October 17, 2016, as amended (the “TC Credit Facility”) has filed an application for the appointment of Deloitte Restructuring Inc. as interim receiver of Tender Choice pursuant to Section 47(1) of the Bankruptcy and Insolvency Act (Canada). In light of the recent fire affecting the Tender Choice leased premises in Burlington, Ontario, HSBC’s application was filed in order to, among other things, protect and pursue HSBC’s interests in insurance policies. The collateral granted by Tender Choice to secure the TC Credit Facility is limited to the property and assets of Tender Choice. The application was granted yesterday by the Ontario Superior Court of Justice. The fire occurred on December 6, 2017. Management was only able to access the premises on December 13, 2017. As a result, the extent of th
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