Court File and Parties

COURT FILE NO.: CV-16-11290-00CL DATE: 2020-07-24

SUPERIOR COURT OF JUSTICE - ONTARIO

RE: IN THE MATTER OF MAPLE BANK GmbH AND IN THE MATTER OF THE WINDING-UP AND RESTRUCTURING ACT, R.S.C. 1985, C.W-11, AS AMENDED AND IN THE MATTER OF THE BANK ACT, S.C. 1991, C.46, AS AMENDED

BEFORE: Chief Justice Geoffrey B. Morawetz

COUNSEL: A. MacFarlane and B. Brooksbank, for KPMG Inc., in its capacity as the Liquidator of the Business in Canada of Maple bank GmbH P. Hamilton and M. Konyukhova, for M.C. Freeze, Insolvency Administrator of Maple Bank GmbH V. Graham and C. Naudie, for Maple Security Canada Ltd. J. Antonios and D. Szirmak, for Ontario Teachers’ Pension Plan Board E.S. Block, for National Bank of Canada J. Bellissimo, for the Trustee in Bankruptcy of Maple Financial Group Inc. M. Kendall, for Six Financial B.V.

HEARD and DETERMINED: July 23, 2020 TYPED REASONS: July 24, 2020

Endorsement

[1] There was no opposition to the requested relief. The basis for the requested relief is set out in the Fourteenth Report of the Liquidator.

[2] It is noted that Canada Revenue Agency still has a pending claim. CRA does not object to the Fourth Interim Distribution, as a reserve is being maintained by the Liquidator pending a determination of the CRA claim.

[3] I am satisfied that it is appropriate to approve, nunc pro tunc, the notice to creditors giving notice of the Fourth Interim Distribution and to authorize the Liquidator to make the Fourth Interim Distribution.

[4] Further, the reduction in the reserve held by the Liquidator is also approved.

[5] I am also satisfied that it is appropriate to approve the Fourteenth Report of the Liquidator and the activities of the Liquidator set out therein.

[6] With respect to proposed Data Custodian Order, I note that the proposed order has been reviewed by the parties and no objections have been expressed to the contents.

[7] I am satisfied the Data Custodian Order is appropriate in these circumstances.

[8] The motion of the Liquidator is granted and two orders – the Fourth Distribution Order and the Data Custodian Order are to issue in the form presented.

Chief Justice Geoffrey B. Morawetz Date: July 24, 2020