Prosysco Ltd. and 1110615 Ontario Ltd.

Prosysco Ltd. (“Prosysco”) is a manufacturer, designer and supplier of highly specialized engineering process solutions.  1110615 Ontario Ltd. (“111 Ontario”) is the parent company of Prosysco.  Prosysco and 111 Ontario are collectively referred to below as the “Companies”.

The Companies both filed a Notice of Intention to Make a Proposal (“NOI”) under Part III, Division I of the Bankruptcy and Insolvency Act (Canada) (“BIA”) on April 1, 2023 and Albert Gelman Inc. (“Proposal Trustee”) was appointed as Trustee of the Proposal.

The Companies are not bankrupt, but have availed themselves of a process whereby an insolvent person restructures its financial affairs with creditor and Court approval. The NOI provides an automatic stay of proceedings against the Company’s creditors providing the Company with an opportunity to restructure its affairs. During this time, the Company will remain in control of its assets and business operations.

Please direct inquiries to:

Albert Gelman Inc., Proposal Trustee
60 Shaftesbury Ave.
Toronto, Ontario  M4T 1A3
Attention: Ianina Raguimov
Tel. 416.504.1650 Ext 119
Email: iraguimov@albertgelman.com