The applicant, acting as receiver for the primary secured creditor, sought the appointment of a receiver and manager over the debtor company.
The debtor company's interim receiver concurrently sought an extension of time to file a proposal under the Bankruptcy and Insolvency Act and approval of its activities.
The court lifted the existing stays of proceedings, appointed the receiver, granted a 45-day extension to file a proposal to avoid automatic bankruptcy, and approved the interim receiver's activities, finding the relief to be just, convenient, and unopposed.
