litigation hold notice - nygard - 2.26 · 2020-06-01 · liquidation sale of particular importance...

File No. CI 20-01-26627

THE QUEEN’S BENCH WINNIPEG CENTRE

IN THE MATTER OF THE RECEIVERSHIP OF NYGÅRD HOLDINGS (USA) LIMITED, NYGARD INC.,

FASHION VENTURES, INC., NYGARD NY RETAIL, LLC, NYGARD ENTERPRISES LTD., NYGARD PROPERTIES LTD.

4093879 CANADA LTD., 4093887 CANADA LTD., AND NYGARD INTERNATIONAL PARTNERSHIP

RICHTER ADVISORY GROUP INC. SUPPLEMENTARY SECOND REPORT OF THE RECEIVER

MAY 31, 2020

TABLE OF CONTENTS I. INTRODUCTION ................................................................................................................................................. 1 II. PURPOSE OF REPORT ...................................................................................................................................... 2 III. TERMS OF REFERENCE .................................................................................................................................... 3 IV. OBLIGATIONS OF NYGARD PROPERTIES LTD. ............................................................................................... 3

APPENDICES APPENDIX “A” – Schedule 7.03 of the Credit Agreement dated December 30, 2019 APPENDIX “B” – Copy of the NOI filed on behalf of Nygard Properties Ltd.

File No. CI-20-01-26627

THE QUEENS BENCH WINNIPEG CENTRE

IN THE MATTER OF THE RECEIVERSHIP OF NYGÅRD HOLDINGS (USA) LIMITED, NYGARD INC., FASHION VENTURES, INC.,

NYGARD NY RETAIL, LLC, NYGARD ENTERPRISES LTD., NYGARD PROPERTIES LTD., 4093879 CANADA LTD., 4093887 CANADA LTD., AND NYGARD INTERNATIONAL PARTNERSHIP

RICHTER ADVISORY GROUP INC.

SUPPLEMENTARY SECOND REPORT OF THE RECEIVER

MAY 31, 2020

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I. INTRODUCTION

1. On March 18, 2020 (the “Appointment Date”), pursuant to an order (the “Receivership Order”) of the Court of

Queen’s Bench (Winnipeg Centre) (the “Manitoba Court”) made in Court File No. CI 20-01-26627 (the “Canadian

Proceedings”), Richter Advisory Group Inc. (“Richter”) was appointed as receiver (in such capacity, the “Receiver”)

of the assets, undertakings and properties (the “Property”) of Nygård Holdings (USA) Limited, Nygard Inc., Fashion

Ventures, Inc., Nygard NY Retail, LLC (collectively, the “US Debtors””), Nygard Enterprises Ltd. (“NEL”), Nygard

International Partnership (“NIP”), Nygard Properties Ltd. (“NPL”), 4093879 Canada Ltd., and 4093887 Canada Ltd.

(collectively, the “Canadian Debtors ”) (the US Debtors and the Canadian Debtors together, the “Nygard Group” or

the “Debtors”) to exercise the powers and duties set out in the Receivership Order, pursuant to section 243(1) of the

Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, (the “BIA”) and section 55 of The Court of Queen’s Bench Act,

C.C.S.M. c.C280.

2. The Receivership Order was granted pursuant to an application made by White Oak Commercial Finance, LLC, as

administrative agent and collateral agent for and on behalf of White Oak and Second Avenue Capital Partners, LLC

collectively, the “Lenders”) pursuant to security held by the Lenders in the Property of the Debtors provided in

connection with a certain loan transaction and a revolving credit facility (the “Credit Facility”) provided thereunder.

3. Also on March 18, 2020, the Receiver, as the duly appointed foreign representative of the Debtors, commenced

proceedings in the United States Bankruptcy Court for the Southern District of New York (the “US Court”) by filing,

among other things, petitions (the “Chapter 15 Petitions”) on behalf of the Receiver in relation to the Debtors

pursuant to sections 1504 and 1515 of the US Bankruptcy Code seeking recognition by the US Court of the Canadian

proceedings as a foreign main proceeding (the “Chapter 15 Proceedings”). On March 26, 2020, the US Court

entered, among other things, a provisional recognition order and, on April 23, 2020, the US Court granted a final

order (the “Final US Order”) recognizing, among other things, the Canadian Proceedings as the foreign main

proceeding. The Canadian Proceedings and the Chapter 15 Proceedings are together hereinafter referred to as the

“Receivership Proceedings”.

4. On April 29, 2020, the Manitoba Court made various Orders, including an Order (the “Sale Approval Order”) which,

among other things, approved an agreement (the “Consulting and Marketing Services Agreement”) between the

Receiver and a contractual joint venture comprised of Merchant Retail Solutions, ULC, Hilco Merchant Resources,

LLC, Hilco IP Services, LLP dba Hilco Streambank, and Hilco Receivables, LLC (collectively, “Hilco” or the

“Consultant”), and White Oak Commercial Finance, LLC pursuant to which, the Consultant will provide certain

consulting, marketing and related asset disposition services. In addition, as it appeared that a going concern or “en-

bloc” sale of the Nygard Group’s assets was not likely, the Sale Approval Order authorized the Receiver to liquidate

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the Nygard Group’s retail inventory and owned furniture, fixtures and equipment (“FF&E”) through temporarily re-

opened stores (the “Liquidation Sale”), as soon as circumstances permit. As certain details regarding the

Liquidation Sale of particular importance to landlords of the Nygard Group’s retail stores (the “Landlords”) were not

capable of being known with any precision or certainty at the time (given COVID-19 restrictions on non-essential

business activities), the Sale Approval Order set out a process that required the Receiver to obtain a further order of

the Manitoba Court addressing certain specified matters prior to commencement of the Liquidation Sale.

5. On April 29, 2020, the Manitoba Court also pronounced two (2) further Orders: (i) an Order (the “General Order”)

addressing, among other things, various general matters, including certain amendments to the Receivership Order

and the procedure for landlord access to properties leased to the Nygard Group by certain non-Debtor members of

the Nygard organization, and (ii) an Order (the “Documents and Electronic Access Order”, and together with the

General Order and the Sale Approval Order, the “April 29 Orders”) establishing the protocol for requesting access

to and / or production of documents and electronic files purported to be in the possession or control (or subject to the

possession or control) of the Receiver by certain non-Debtor members of the Nygard organization or directors,

officers and employees of the Nygard Group. The status of the April 29 Orders is addressed later in this report.

6. In accordance with the Receivership Order, the Receiver has established a website (the “Receiver’s Website”) for

the purposes of these proceedings at https://www.richter.ca/insolvencycase/nygard-group.

7. Copies of the pleadings and other materials filed in the Receivership Proceedings, other than affidavits sealed by

Order of the Manitoba Court, are posted to and available for review at the Receiver’s Website.

8. Copies of the pleadings and other materials filed in the Chapter 15 Proceedings are also posted to and available for

review at the Receiver’s Website.

9. The Receiver has engaged Thompson Dorfman Sweatman LLP (Winnipeg) (“TDS”) as its Canadian counsel, and

Katten Muchin Rosenman LLP (New York) (“Katten”) as its U.S. counsel.

II. PURPOSE OF REPORT

10. On May 27, 2020, the Receiver filed its second report (the “Second Report’) in support of the Receiver’s motion (the

“June 1 motion”) returnable June 1, 2020 for, among other things, an Order from the Manitoba Court addressing

Landlord matters in relation to the conduct of the Liquidation Sale (the “Landlord Terms Order”).

11. This report (the “Supplementary Second Report”) is filed by the Receiver to respond to certain matters raised by

counsel to the Nygard Group, Levene Tadman Golub Law Corporation, in its Brief dated May 31, 2020 (the “Brief”)

filed in response to the Second Report and the June 1 Motion.

https://www.richter.ca/insolvencycase/nygard-group/

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III. TERMS OF REFERENCE

12. In preparing this Supplementary Second Report, the Receiver has relied upon information and documents prepared

by the Debtors and their advisors, including unaudited, draft and/or internal financial information, the Debtors’ books

and records, discussions with representatives of the Debtors, including current and former employees, executives

and / or directors, legal counsel to Mr. Peter Nygard and certain related but non-Debtor entities, the Lenders and

their legal counsel, and information from third-party sources (collectively, the “Information”). In accordance with

industry practice, except as otherwise described in the Supplementary Second Report, Richter has reviewed the

Information for reasonableness, internal consistency, and use in the context in which it was provided. However,

Richter has not audited or otherwise attempted to verify the accuracy or completeness of the Information in a manner

that would comply with Generally Accepted Auditing Standards (“GAAS”) pursuant to the Chartered Professional

Accountant of Canada Handbook and, as such, Richter expresses no opinion or other form of assurance

contemplated under GAAS in respect of the Information.

13. The Receiver has prepared this Supplementary Second Report in its capacity as a Court-appointed officer to support

the relief being sought by the Receiver at the June 1 Motion. Parties using this Supplementary Second Report, other

than for the purposes outlined herein, are cautioned that it may not be appropriate for their purposes, and

consequently should not be used for any other purpose.

14. Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Receivership Order.

15. Unless otherwise noted, all monetary amounts contained in this Supplementary Second Report are expressed in

Canadian dollars.

IV. OBLIGATIONS OF NYGARD PROPERTIES LTD.

16. In the Brief, the Nygard Group asserts that the conditional agreements of purchase and sale on each of the Toronto

Property, the Inkster Property and the Notre Dame properties could satisfy NPL’s limited guarantee obligations to

the Lenders, thus permitting NPL to continue with its BIA proposal process. While the Credit Agreement describes

the limit of the Lenders’ recourse to proceeds from the realization of NPL assets to US$20 million after costs and

expenses, the Credit Agreement does not limit the availability of additional proceeds realized by the Receiver on

assets of NPL for the payment of claims of other creditors of NPL.

17. Based on the Information reviewed to date, the Receiver understands NPL could have unsecured obligations owing

to other members of the Nygard Group as well as third-party creditors.

18. The Receiver notes that Schedule 7.03 of the Credit Agreement outlines all of the intercompany arrangements of the

Nygard Group as at December 30, 2019, a copy of which is attached hereto as Appendix “A”. As detailed in

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Appendix A, NIP was owed $18,206,000 and $2,872,000 from NEL and NPL, respectively, as at December 30, 2019.

The Receiver understands these intercompany amounts are generally consistent with the NIP’s unaudited internal

financial statements for fiscal 2019 dated February 1, 2020. As of the date of this Supplementary Second Report,

the Receiver has not had an opportunity to reconcile the intercompany balances of the Debtors.

19. The Receiver also notes that on March 9, 2020, each of the Canadian Debtors commenced proposal proceedings

by filing with the Office of the Superintendent of Bankruptcy (the “OSB”) Notices of Intention to Make a Proposal

(“NOI”) under the BIA in Ontario, for the purpose of staying the exercise of remedies of creditors of the Nygard Group

and otherwise accessing the proposal provisions of the BIA.

20. A copy of the NOI e-filed with the OSB on behalf of NPL was obtained by Richter on or about March 10, 2020, a copy

of which is attached hereto as Appendix “B”. As detailed in Appendix “B”, NPL lists third-party creditor claims

totaling approximately $25.1 million, which listing does not include the amounts owed to the Lenders. The Receiver

notes that the NOI included in Appendix B was transmitted to the OSB through its E-Filing Service and therefore did

not contain any signatures. As of the date of this Supplementary Second Report, the Receiver has not had an

opportunity to review the books and records of NPL in order to verify the creditor claims listed in the NOI.

All of which is respectfully submitted on this 31st day of May, 2020.

Richter Advisory Group Inc. in its capacity as Receiver of Nygard Holdings (USA) Limited, Nygard Inc., Fashion Ventures, Inc., Nygard NY Retail, LLC, Nygard Enterprises Ltd., Nygard Properties Ltd., 4093879 Canada Ltd., 4093887 Canada Ltd., any Nygard International Partnership and not in its personal capacity

___________________________________ ______________________________ Adam Sherman, MBA, CIRP, LIT Pritesh Patel, MBA, CFA, CIRP, LIT

APPENDIX A

43941698.4

Schedule 7.03

Existing Indebtedness

Third Party Indebtedness

Lender Borrower Aggregate Principal Amount

Currency Maturity Date/Payment

Terms

Bishara Textile and Garment Manufacturing Co.

Nygard International Partnership $13,175.46 CAD Expired November 30, 2019—extending





Orlando Corporation Nygard International Partnership $10,000.00 CAD May 18, 2020

Orlando Corporation Nygard International Partnership $30,000.00 CAD May 18, 2020

1435 Broadway LLC Nygard International Partnership $174,227.81 CAD November 14, 2020

Intercompany Arrangements

Lending Entity Borrowing Entity Aggregate Principal Amount

Currency

Nygard International Partnership

Nygard Inc. $2,633,000 *Note mixed USD/CAD

Fashion Ventures, Inc. Nygard Inc. $6,593,000 USD

Nygård Holdings (USA) Limited

Nygard Inc. $7,395,000 USD

Nygard Properties (USA) Limited

Nygard Inc. $5,016,000 *Note mixed USD/CAD

Brause Investments Inc. Nygard Inc. $5,649,000 USD

Edson’s Investments Inc. Nygard Inc. $2,406,000 USD

Nygard Inc. Nygard NY Retail, LLC $8,110,000 USD

Nygard Inc. Nygard Ventures Inc. $3,345,000 USD

Nygard Inc. Nygard Biotech Corporation $8,284,000 *Note mixed USD/CAD


Enterprise Aviation Bermuda Ltd.

$532,000 USD


Nygard Enterprises Ltd. $18,206,000 CAD

- 2 -

43941698.4

Lending Entity Borrowing Entity Aggregate Principal Amount

Currency


4093879 Canada Ltd. $278,000 CAD


4093887 Canada Ltd. $354,000 CAD

Nygard Enterprises Ltd. 4093879 Canada Ltd. $909,000 CAD

Nygard Holdings Ltd. Nygard International Partnership

$159,000 CAD

Nygard International (Barbados) Limited


$3,769,000 *Note mixed USD/CAD


Nygard Properties Ltd. $2,872,000 CAD

4093887 Canada Ltd. Nygard Properties Ltd. $228,000 CAD

Fashion Ventures, Inc. Nygard Ventures Inc. $4,503,000 USD

APPENDIX B

District of:Division No.Court No.Estate No.

-

- FORM 33 -Notice of Intention To Make a Proposal

(Subsection 50.4(1) of the Act)

IN THE MATTER OF THE PROPOSAL OFNYGÅRD PROPERTIES LTD.

A COMPANY DULY INCORPORATED PURSUANT TO THE LAWS,

OF THE PROVINCE OF MANITOBAWITH A HEAD OFFICE IN THE CITY OF TORONTO, IN THE PROVINCE OF ONTARIO

Take notice that:

I, NYGÅRD PROPERTIES LTD., an insolvent person, state, pursuant to subsection 50.4(1) of the Act, that I intend to make aproposal to my creditors.

1.

A. FARBER & PARTNERS INC., LIT of 150 York Street, Suite 1600, Toronto, ON, M5H 3S5, a licensed trustee, has consented toact as trustee under the proposal. A copy of the consent is attached.

2.

A list of the names of the known creditors with claims of $250 or more and the amounts of their claims is also attached.3.

Pursuant to section 69 of the Act, all proceedings against me are stayed as of the date of filing of this notice with the official receiverin my locality.

4.

Dated at the City of Detroit in the State of Michigan, this 9th day of March 2020.

NYGÅRD PROPERTIES LTD.Insolvent Person

To be completed by Official Receiver:

Filing Date Official Receiver

Page 1 of 17


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List of Creditors with claims of $250 or more.

Creditor Address Account# Claim Amount

2222840 ONTARIO CORP. 1,203.60225 ISRAEL ZILBER DRIVEMaple ON L6A 0L3

2236835 ONTARIO INC. 314.4840 KODIAK CRESCENT, UNIT# 4TORONTO ON M3J 3G5

3532534 CANADA INC. 747.02433 CHABANEL STREET WESTMontreal QC H2N 2J4

A AND M INTERNATIONAL 29,115.14E-79, SECTOR 63 GB NAGARNOIDA UP 201301 India

AAA RUBBISH INC. 2,617.46P.O. BOX 2158BELL GARDENS CA 90202 USA

ABC FIRE & SAFETY EQUIPMENT LIMITED

1,381.24800 MARION STREETWinnipeg MB R2J 0K4

ABELL PEST CONTROL INC.

644.051353 SPRUCE STREETWINNIPEG MB R3E 2V8

ADVANSTAR / STICH LV 20,754.04131 WEST FIRST STREETDULUTH MN 55802 USA

ALIANT INC 792.05P.O. BOX 880HALIFAX NS B3J 2W3

ALIF DESIGN AND SOURCING USA INC.

68,456.99200 YALE STREETROSLYN HEIGHTS NY 11577 USA

ALLISON ZEGALSKI 1,650.00129 LAUREL RIDGE DRIVEWINNIPEG MB R3Y 1X3

AMBROSIA & CO. 1,138.6275 JOHN PORTMAN BLVD NW 9N104ATLANTA GA 30303 USA

ANHUI GARMENTS IMP. & EXP. CO. LTD.

370.92ROOM 1505, JINCHENG MANSION 436 CHANGJIANG ROADHEFEI AH 23000 China

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AO FASHIONS INC. (DDP) 6,844.8042 WILL LN WATCHUNGWATCHUNG NJ 07069 USA

ART & CRAFT EXCLUSIVES 12,949.78G-108 RIICO Industrial Area Mansarovar, JaipurGurgaon HR India

AT & T MOBILITY 3,313.64PO BOX 6463CAROL STREAM IL 60197 USA

ATRACO INDUSTRIES ENTERPRISES

3,327.24P.O. BOX# 16798 JEBEL ALI FREE ZONEDUBAI DU UAE

AURORA INVESTMENTS GLOBAL LIMITED

324,109.1314A UNIONWAY COMMERCIAL CENTRE 283 QUEENÆS ROAD CENTRALKOWLOON HK China

BELL CANADA 4,087.88P. O. BOX 9000North York ON M3C 2X7

BELL CANADA 889.66P. O. BOX 8713Montreal QC H3C 4L6

BEYOND DIGITAL IMAGING INC

700.0036 APPLE CREEK BLVDMarkham ON L3R 4Y4

BISHARA TEXTILE AND GARMENT MFG CO (BTM)

275,299.77Industrial Zone B2 Egypt, P.O. Box 47, Masr we el sudan StreetRAMADAN Egypt

BLUE STUDIO SRL 804.42BLUE STUDIO SRLCOMO 22100 Italy

BMO BANK OF MONTREAL - CAD

186,875.97P. O. BOX 6044Montreal QC H3C 3X2

BMO BANK OF MONTREAL - USD

55,749.75111 W Monroe StCHICAGO IL 60603 USA

BORDEN LADNER GERVAIS 13,216.861000 De la Gauchetiere QuestMONTREAL QC H3B 5H4

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CACTUS MARINE, INC 10,331.774711 NW 5th AveOakland Park FL 33309 USA

CALIFORNIA LABEL PRODUCTS

1,031.2013255 SOUTH BROADWAYLOS ANGELES CA 90061 USA

CANADA POST CORPORATION

13,843.82ACCOUNTS RECEIVABLEOttawa ON K1A 0B1

CANADA POST PAYROLL 606.132701 RIVESIDE DRIVE,STATION 680AOttawa ON K1A 1L7

Capital Garments 475,523.181200 BOUL. JULES POITRAS SUITE# 200SAINT-LAURENT QC H4N 1X7

Carlyle Printers, Service & Supplies Ltd

7,416.7075 Plymouth StreetWinnipeg MB R2X 2V5

Carrie DelCurto & CO 1,043.2710217 S.E. 16TH STREETVANCOUVER WA 98664 USA

CHAMPION ENERGY SERVICES, LLC

11,878.321500 RANKIN ROAD SUITE# 200HOUSTON TX 77073 USA

CHANGZHOU KAILAN TEXTILE CO. LTD.

827,824.90QIANJIA INDUSTRIAL ZONE, YAOGUAN TOWNChangzhou 213011 China

CHINA LIGHT CREATION DEVELOPMENT LIGHTING CO. LTD.

348.58NO. 5, LONGSHAN 1 ROAD, DISHAN VILLAGE, XINSHENG, LONGGANGSHENZHEN 518100 China

CHINAKEY GLOBAL LIMITED

12,044.182/F AND 3/F, SUNGÆS TOWER 15-19 LAM TIN STREETKOWLOON HK China

CHUBB EDWARDS 1,389.82PO Box 57005 Station AToronto ON M5W 5M5

CLASSIC FASHION APPAREL INDUSTRY LTD CO

1,983.77P.O. BOX 54, AL HASSAN INDUSTRIAL ESTATERAMTHA IR Jordan

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COMPLETE HVAC SERVICEINC.

5,550.00P. O. BOX 52026Winnipeg MB R2M 5P9

COMPUGEN FINANCE INC. 7,257.50100 VIA RENZO DRIVERichmond Hill ON L4S 0B8

CONPRESS HOLDINGS LIMITED

2,274,765.12UNIT 903 & 905, THE WAVE, 4 HIP YIP STREETKOWLOON HK China

COTTON ART PRINTERS 1,113.41P930/1 MUGAL PURA HAJI ABADFAISALABAD 38600 Pakistan

DASSAN FASHIONS PVT. LTD.

335.18A-5, INFOCITY, SEC-34GURGAON 122004 India

DBS PACIFIC CO. LIMITED 377,541.16UNIT 905 WORKINGBERG 41-47 MARBLE ROADHong Kong HK 200124 China

DIRECT TV 490.01LOS ANGELES BROADCAST CENTERLOS ANGELES CA 90066 USA

DONG GUAN SHI YI ER YI FASHION GMT CO.

8,044.20NO. 6 JIANGCHENG XI ROAD GAOBU TOWNDONGGUAN CITY GD 523270 China

DSV AIR & SEA US 2,721.22898 SEPULVEDA BLVD., 6TH FLOOREL SEGUNDO CA 90245 USA

EFR DISPOSAL LIMITED 366.5815 FREEMAN STREET, P.O. BOX 5,Middleton NS B0S 1P0

EN-PRO INTERNATIONAL INC

3,600.00174 SIMCOE STREET NORTHOshawa ON L1G 4S9

ESTI STUDIO INC. 6,435.36241 WEST 37TH STREET, ROOM 1002NEW YORK NY 10018 USA

EURE APPAREL CO. LTD. 3,644.05HEUNG-SEONG BUILDING 60, SEOKCHONHOSU-RO 12-GILSEOUL SE South Korea

EVERWIN ENTERPRISE LIMITED

27,023.069/F, 822 LAI CHI KOK ROAD CHRUNG SHA WANKOWLOON HK China

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FERO WASTE &RECYCLING LTD.

3,798.36203 DESBRISAY AVENUEMoncton NB E1E 0G7

FOOD SYSTEMS MANAGEMENT LTD

9,416.75299 NAIRN AVENUEWinnipeg MB R2L 0W8

FOOD SYSTEMS MANAGEMENT LTD *

5,597.00293 NAIRN AVENUEWINNIPEG MB R2L 0W8

FRANCOTYP POSTALIA CANADA INC.

2,866.5082 CORSTATE AVENUEConcord ON L4K 4X2

FRANKLIN EMPIRE 2,277.728421 DARNLEY RDMont-Royal QC H4T 2B2

FUJIAN NANAN WEIXIN KNIT CO. LTD.

2,753.37XIANLONGBIAN TWO TEAM LINBAN VILLAGE MEISHAN TOWNNANAN CITY FJ China

GARBO GROUP INC 25,816.0034 WINGOLD STREET WESTTORONTO ON M6B 1P5

GARDA CANADA SECURITY CORPORATION

587.4410366 - 172ND STREETEdmonton AB T5S 1G9

GERBER TECHNOLOGY LTD (CDA)

4,878.30P. O. BOX 2015Montreal QC H3B 4H4

GLASS COMPANY - PRIVATE FREE ZONE

524,006.243 EL MONTASSER STREET POST NO. 15 SHOBRA EL KHEMACAIRO QH Egypt

GLOBAL APPAREL SOLUTIONS

210,628.90SUITE 2203, LEVEL 22, OFFICE TOWER LANGHAM PLACEKOWLOON HK China

GOLDEN GROUP TEXTILE INC.

34,459.89NO. 138, 3F, SHAN-SHI ROAD, SEC 3TAIPEI TP Taiwan

GRAND & TOY 5,517.391641 SEEL AVENUEWinnipeg MB R3T 5J1

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GRANTEXTILE CO., LTD. 485.84RM 503, 5/F, PLATINUM BUILDINGSHANGHAI 200020 China

GREATWILL SOURCING (HK) LTD.

6,847.22ROOM 1005, 10/F, NEW TREASURE CENTRE 10 NG FONG STREET,KOWLOON HK China

GREEN FOR LIFE (GFL) ENVIRONMENTAL

1,189.17195 DISCOVERY PLACEWinnipeg MB R2R 0P6

GUANGDONG SHUNDE WIREKING WAYLAND IMP&EX

402.21NO. 38 YANGDA ROAD, LUNJIAO TOWN, SHUNDE, GUANGDONG PROVINCEFOSHAN GD China

HANGZHOU SHANGCHEN TRADING CO. LTD.

5,821.84ROOM 1303, LISHAN INTERNATIONAL CENTRE NO. 279 YINGCHUN SOUTH ROAD,TONGLU COUNTY ZJ 311500 China

HANGZHOU XIANGFU TEXTILE CO. LTD.

23,627.76BUILDING #4, JINCHENG INDUSTRIAL ZONE, KEQIAO KEBEI INDUSTRIAL AREASHAOXING CITY ZJ 312065 China

HI FASHION FABRICS 441.18483-485 BROADWAYNEW YORK NY 10013 USA

HI-TECH TEXTILE L.L.C. 254,472.91674-AD-DULAYILZARQA 13136 Jordan

HOLIDAY LUGGAGE CANADA INC

121,004.194875 DES GRANDES-PRAIRIESST LEONARD QC H1R 1X4

HUZHOU INTERNATIONAL TRADE CO. LTD.

35,642.248-D FENGHUANG ROADHUZHOU 313000 China

HUZHOU WELLSTAR IMP & EXP CO., LTD

56,978.748 floor, gold century plaza, No.99, hangchang bridge road,Huzhou ZJ 313000 China

HYPERTEC SYSTEMS INC - CAD

3,417.009300 TRANS CANADA HIGHWAYMONTREAL QC H4S 1K5

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INDEED IRELANDOPERATONS LTD.

16,000.00124 ST. STEPHENS GREENDUBLIN DN Ireland

INDO JORDAN CLOTHING LLC

8,235,691.59QIZ# 13136AD DULAYL AZ Jordan

INDO JORDAN CLOTHING LLC (ARTS3)

13,407.00PO BOX NO. 27 AD DULAYL IND. PARKAL ZARQA AM Jordan

INFINITY DISPLAY INC 529.581415 SOUTH 8TH AVENUEARCADIA CA 91006 USA

Irvin John Pabalan 250.001340 Notre Dame AveWinnipeg MB R3E 0P4

IWEAR INC 12,680.0034 WINGOLD AVENUETORONTO ON M6B 1P5

J SUN TEXTILE CO. , LTD 2,001.99NO. 23 XINGMING RD, WARP KNITTING PARKHAINING ZJ 314400 China

J.K. KNIT COMPOSITE LTD. 76,402.84GREEN ORLANDO, 3RD & 4TH FLOOR, KA-42/4, PROGATI SARANIDHAKA DA Bangladesh

JEANNA SAPACZ 1,950.00139 APPLE HILL ROADWinnipeg MB R3Y 1A3

JOAN HANSEN & COMPANY INC.

145,611.00101 WEST 55TH STREETNEW YORK NY 10019 USA

Jocelyn May Caballero 800.0051 Trudell BayWinnipeg MB R2C 4Y1

JOLIE INTIMATES 13,825.001901 TRANSCANADADORVAL QC H9P 1J1

LABTEX CO LTD 1,706.78NO. 83-2, SEC.2CHENGDE.,TAIPEI TP Taiwan

LAIS KNITWEAR MFG LTD 514.8312F UNIT 2 & 3, 13F UNIT 2KOWLOON HK 999077 China

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LAVELY & SINGER, P.C. 1,257.682049 Century Park East, Suite 2400LOS ANGELES CA 90067 USA

LEECH PRINTING LTD. 356.971532 Church AvenueWinnipeg MB R2X 1G6

LES IMPORTATIONS S.M.D. LTEE

6,900.369250 Meilleur Suite 202Montreal QC H2N 2A5

LIKH ENTERPRISES CO., LTD.

26,130.66Krang Svay Village, Ampear Commune Moukkampol DictrictKRANG SVAY KN Cambodia

LORI MICHAELS MANUFACTURING INC.

750.40225 CHABANEL STREET WESTMontreal QC H2N 2C9

LU BAO RONG 16,758.75Room1101, No.19, 1287L, Huaxia Second RdSHANGHAI China

LUNA ATHLETICA INC. (DDP USA)

61,410.8237 ROYAL WEST DRIVEBRAMPTON ON L6X 2M2

MARILYN KERN TEXTILE DESIGNS INC

770.90202 WEST 40TH STREETNEW YORK NY 10018 USA

MARKET WISE 19,188.001203 ROSELAWN AVENUEYork ON M6B 1C6

MASIHATA SWEATERS LTD.

185,690.20SOUTH PANISHAIL, BKSP, KASHIMPUR GAZIPUR, HOUSE#3B, ROAD#02, SECTOR#03UTTARA DA Bangladesh

MATRIX CLOTHING PVT LTD

147,917.62Khandsa Road Village MohammadpurGurgaon HR 122001 India

MIDWEST ROOFING CO., INC.

1,461.361305 WEST 132ND STREETGARDENA CA 90247 USA

MILLENNIUM FASHION OF NJ INC. (CDA)

462,597.04104 WEST 40TH STREET, 5TH FLOOR,New York NY 10018 USA

Page 9 of 17


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MILLENNIUM FASHION OFNJ INC. (USA)

3,102.71104 WEST 40TH STREET, 5TH FLOORNew York NY 10018 USA

MILLER THOMSON LLP 60,572.7440 KING STREET, WEST SUITE# 5800TORONTO ON M5H 3S1

MJ ACCESSORIES, LLC 1,671.131410 BROADWAY SUITE# 501NEW YORK NY 10018 USA

NAFA APPAREL 868.1335 LONDON PLAZAUTTARA DA Bangladesh

NAMYANG SOURCING CO. LTD.

15,158.57FLOOR 15, CENTRE POINT BUILDING 106 NGUYEN VAN TROI STREETHO CHI MINH HC Vietnam

NANJING ORIENT ENTERPRISE LTD

259.9930F, 50 ZHONGHUA ROADNANJING JS 210001 China

NETXPOSURE, INC 5,277.54705 sw 1st Avenue SUITE 300PORTLAND OR 97204 USA

NEW HEAVEN ENTERPRISES

5,147.7910F, NO. 101, SEC3, NANKING EAST ROAD,TAIPEI Taiwan

NHT FASHION LTD. 85,301.35PLOT# 20-22, SECTOR 5, EPZCHITTAGONG CG Bangladesh

NIIT TECHNOLOGIES INC. 14,361.581050 CROWN POINTE PARKWAY SUITE# 1000CUMMING GA 30041 USA

NORAMPAC INC 12,283.37680 WALL STREETWINNIPEG MB R3G 2T8

NORWELL GARMENT CO LTD

9,081.0396 CHANGJIANG ROAD CENTRAL NEW DISTRICTCHANGZHOU JS 213032 China

OPEN TEXT CORP. 4,167.752680 Skymark Ave., Suite 500Mississauga ON L4W 5L6

OPEN TEXT CORPORATION

9,963.22100 TRI-STATE PARKWAY 3RD FLOORLINCOLNSHIRE IL 60069 USA

Page 10 of 17


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ORACLE AMERICA INC. 603.32500 ORACLE PARKWAYREDWOOD CITY CA 94065 USA

OVERSEAS EXPRESS CONSOLIDATORS (TORONTO)

28,209.77450B BRITANNIA ROAD, EASTMISSISSAUGA ON L4Z 1X9

P & M DISTRIBUTORS, INC. 15,268.762345 EAST 52ND STREETVERNON CA 90058 USA

PACIFIC LOGISTICS CORP 938.015600 KNOTT AVENUEBUENA PARK CA 90621 USA

PAL PLASTICS INC. 535.561901 LOGAN AVENUEWINNIPEG MB R2R 0H6

PRECISION ELEVATOR LTD.

4,226.4050 NORTH WIND PLACEScarborough ON M1S 3R5

PRINTFRESH LLC 770.902930 JASPER STREET SUITE# 408PHILADELPHIA PA 19134 USA

PRO CREATIONS 2,250.00PRO CREATIONS 810 CAMPBELL STREETWinnipeg MB R3N 1C8

PROGRESSIVE WASTE SOLUTIONS CANADA INC. (BC)

637.3125 FAWCETT ROADCoquitlam BC V3K 6V2

PROGRESSIVE WASTE SOLUTIONS CANADA INC. (VAUGHAN)

1,270.98650 CREDITSTONE ROADConcord ON L4K 5C8

QINGDAO YIJIA TEXTILES 7,919.7315 DONGHAIXI ROAD INTER ROYAL BUILDING 8 FLOORQINGDAO 266002 China

QUADBRIDGE INC. 105,890.993800 ST. PATRICK SUITE# 102MONTREAL QC H4E 1A4

RADIANT COMMUNICATIONS CORP.

18,090.621050 WEST PENDER STREET SUITE 1600VANCOUVER BC V6E 4T3

Page 11 of 17


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RGIS, LLC 377.452000 EAST TAYLOR ROADAUBURN HILLS MI 48326 USA

RONEX INTERNATIONAL LLC

529,781.36SUITE NO. 109 AL HYDA BUILDINGDUBAI DU UAE

ROSE SWEATERS LTD. 105,118.03VOGRA, BYPASS, JOYDEB PURGAZIPUR DA Bangladesh

RUBENSTEIN BROS (WESTERN) LTD

397.3515 KEITH ROADWinnipeg MB R3H 0H7

RUGAO SPIRIT TIANHONG IMPORT & EXPORT TRADE CO. LTD.

2,050.84CHENG XI VILLAGERUGAO 226500 China

Runners Clothing International

9,572.00333 CHABANEL, WEST SUITE 504Montreal QC H2N 2E7

SANTA FE FINISHING 3,404.242460 EAST 12TH STREETLOS ANGELES CA 90021 USA

SASKTEL 412.47P. O. BOX 2121Regina SK S4P 4C5

SHANDONG MAY-STAR TEXTILE & GARMENT CO.

4,566.41ERHUAI VILLAGE ZHOUCUN PROVINCEZIBO SD 255300 China

SHANGHAI DRAGON IMP. & EXP. CO. LTD.

12,562.672F, NO. 2 BUILDING, 555 KANGWU ROADSHANGHAI SH China

SHANGHAI GANGHAO APPAREL CO. LTD.

1,034.37NO. 999 KUNGANG ROAD, HIGH-TECH PARKSHANGHAI 201616 China

SHANGHAI QIAO ZU TRADE LIMITED

767.90505 CHANGQIAO ROAD, CHUANSHA, PUDONGSHANGHAI 201202 China

SHAOXING TOPU TEXTILE CO. LTD.

7,721.605F, B BUILDING, WONDER PLAZA KEQIAOSHAOXING ZJ 312030 China

SHEEBA INTERNATIONAL GARMENTS CO.

12,066.30PORT SAID PUBLIC FREE ZONE, P.O. BOX 817PORT SAID Egypt

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SHENYANG SUNNYTEXAPPAREL CO., LTD.

1,230.76ROOM 1302 JIALONG MANSIONSHENYANG 110003 China

Shenzhen Xintao Acrylic Co. ltd

3,857.86705, 7/F, Building B, Chinto Technology Minzhi Road, Longhua Districtshenzhen GD 518131 China

SHERRIDA 648.00110 Scollard St.TORONTO ON M5R1G2

SHILLER BUTTONS INC USD

655,246.73970 BEAUMONT AVENUEMontreal QC H3N 1V5

SHIN-TEX INC 110,344.051411 BROADWAY 7TH FLOORNEW YORK NY 10018 USA

SOGICA INC. 1,910.489555 AVE. CHRISTOPHE-COLOMBMONTREAL QC H2M 2E3

SOORTY ENTERPRISES (MILL)

3,003.17PLOT SURVEY 332~333 AND 335 261~266 DEH LANDHI, BIN QASIM TOWNKARACHI SD 75020 Pakistan

SPS Commerce, Inc. 4,153.10Suite 1000 - 333 South 7th StreetMINNEAPOLIS MN 55402 USA

ST. VITAL ELECTRIC LTD 1,725.002025 ROYAL OAK ROADGrande Pointe MB R5A 1E1

STINGRAY 360 COMMERCIAL SOLUTIONS INC.

5,824.95730 WELLINGTON AVENUEMONTREAL QC H3C 1T4

Stylescape Inc. 44,316.471412 BROADWAY AVENUE 21ST FLOORNEW YORK NY 10018 USA

SUMAN SHAKTI (EPZ) LIMITED

5,958,827.139300 METCALF AVENUEOVERLAND PARK KS 66212 USA

SUNGIN KNITTING CO. LTD. (DDP)

454.9915 BINWEN ROAD BINJIANGHANGZHOU ZJ China

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SUNGIN KNITTING CO.,LIMITED

5,078.715TH FLOOR,18# MOGANSHAN RDZHEJIANG ZJ 310005 China

SUNWEST INDUSTRIES CHEMICAL LTD

398.00SUNWEST INDUSTRIES CHEMICAL LTD SUNWEST INDUSTRIES CHEMICAL LTDWinnipeg MB R2X 2Y7

SUZHOU HENG RUN IMPORT

25,782.72201 ZHU HUI ROADSUZHOU 215006 China

SUZHOU HENGRUN IMP & EXP (DDP)

5,597.38201 ZHU HUI ROADSUZHOU CITY JS 215008 China

SUZHOU KERU TRADING CO., LTD.

4,749.48ROOM 1815, GOLDEN RIVER INT CENTRESUZHOU 215011 China

SWISH MODEL MANAGEMENT

4,260.754-703 Corydon AvenueWinnipeg MB R3M 0W4

SWISS COTTON GARMENT COMPANY (SCGC)

8,042.44NEW BANI SWEIF CITY, MIDUEM SIZE INDUSTRY ZONEBANI SWEIF Egypt

SYSTECH MECHANICAL SERVICES LTD

260.36570-A ROSEBERRY STREETWinnipeg MB R3H 0T1

T DESIGN KNITWEAR LTD. 26,658.17House#358 3rd Floor, Road#5 East D.O.H.S. Baridhara, 1206Gazipur DA Bangladesh

T J RENOWN CLOTHING CO LTD

8,840.91T J RENOWN CLOTHING CO LTDTIANJIN 300074 China

T.C. SECURITIES CORP 620.51313 Alberta StOshawa ON L1H 4R9

TAINAN ENTERPRISES CO. LTD.

12,250.2415F, NO. 15-1, SEC 1 HAN-CHOU SOUTH ROADTAIPEI TP Taiwan

TAT LEE COMPANY 335.18FLAT B2, 11/F, FOOK SING FACTORY BLDG.,KOWLOON China

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TEXPORT INTERNATIONALPRIVATE LIMITED

67,268.20101/102, ELECON CHAMBERSANDHERI (E) MUMBAI MH 400072 India

THE ROSE DRESSES LTD 526,087.99RANGS ARCADES (5TH FLOOR) 153/A, GULSHAN AVENUEDHAKA DA Bangladesh

THOMAS MARINE SYSTEMS

155,168.092200 West State Road 84FORT LAUDERDALE FL 33312 USA

THOMPSON V CO, LTD SHANGHAI

672.125A, NO. 9, SEC.2, NAN-KAN TAOYUAN, TAIWAN R.O.C 03-3527828NAN KAN Taiwan

TORONTO DEGREE 4,868.51399 APPLEWOOD CRESCENT SUITE #1Concord ON L4K 4J3

TRUE GRADES LIMITED 806.85ROOM 938, SINO INDUSTRIAL PLAZA, NO. 9 KAI CHEUNG ROADKOWLOON HK China

TWILIGHT SIGNS AND NEON INC.

949.209 BROWNING COURTBolton ON L7E 1G8

TYCO INTEGRATED SECURITY, LLC

3,813.8921171 WESTERN AVENUETORRANCE CA 90501 USA

UNITED ARYAN (EPZ) LTD 9,758.50SHED#1 TO 7, INDIGO EPZNAIROBI Kenya

VELOCITY APPARELS CO. ESC.

117,971.05PUBLIC FREE ZONE, PO BOX 41111ISMAILIA IS Egypt

VIET THANG JEANS CO. LTD.

200,473.9138 QUANG TRUNG STREET HIEP PHU WARD, DISTRICT 9HO CHI MINH HC Vietnam

WEIXING INDUSTRIAL DEVELOPMENT CO. LTD.

1,474.773F, BLOCK 16, NO. 99 TIANZHOU ROAD CAOHEJING HI-TECH PARKSHANGHAI 200233 China

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WERTEX HOSIERY INC 16,345.641191 BATHURST STToronto ON M5R 3H4

WILSON ELSER MOSKOWITZ EDELMAN & DICKER

4,004.67525 MARKET STREET 17TH FLOORSAN FRANCISCO CA 94105 USA

WONDERFUL INTERNATIONAL GROUP HK LIMITED

13,434.477/F HONG KONG TRADE CENTREHong Kong HK 300352 China

WOO JUNG CORPORATION 1,378.753RD FLOOR, DAEKYO BLDG NAEDANG 4 DONG SEO GUDAEGU 703804 South Korea

WR DISPLAY AND PACKAGING

81,782.7630 PLYMOUTH STREETWinnipeg MB R2X 2V7

XIN TAN PROPERTY MANAGEMENT COMPANY

23,340.25Lane 15, Gudan Rd, Pudong New AreaSHANGHAI 201314 China

YIWU KEDIE DRESS CO. LTD.

402.21NO. 303, JINFA AVENUEYIWU 322000 China

YOUNG SCENE SPORTSWEAR INC

25,282.00180 Sauve St WestMontreal QC H3L 1Y7

YRC INC. 1,703.06557 EAST TALLMADGE AVENUEAKRON OH 44310 USA

YRC REIMER 505.55P. O. BOX 3531 STATION ATORONTO ON M5W 3G4

ZARODA MUSIC SERVICES 950.00691 MATHIAS AVENUEWinnipeg MB R2V 3R1

25,153,524.75Total

Page 16 of 17


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NYGÅRD PROPERTIES LTD.Insolvent Person

Page 17 of 17

Court No.

File No.


A COMPANY DULY INCORPORATED PURSUANT

TO THE LAWS,OF THE PROVINCE OF MANITOBA

WITH A HEAD OFFICE IN THE CITY OF TORONTO,IN THE PROVINCE OF ONTARIO

Form 33Notice of intention to make a proposal

A. FARBER & PARTNERS INC., LIT - LicensedInsolvency Trustee

__________________________________________

150 York Street, Suite 1600Toronto ON M5H 3S5

Phone: (416) 497-0150 Fax: (416) 496-3839