October 15, 2024
On October 15, 2024, Felix Payment Systems Ltd. (the “Company” or “Felix”) filed a Notice of Intention to Make a Proposal pursuant to section 50.4(1) of the Bankruptcy and Insolvency Act (Canada) and Alvarez & Marsal Canada Inc. was named as the Proposal Trustee.

November 25, 2024
On November 25, 2024, the Company was granted an initial order (the “Initial Order”) to commence proceedings (the “CCAA Proceedings”) under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”). Pursuant to the Initial Order, Alvarez & Marsal Canada Inc. was appointed as monitor (the “Monitor”) in the CCAA Proceedings.

The Initial Order granted a stay of proceedings (the “Stay Period”) and provided that during the Stay Period, no proceedings may be commenced against or in respect of the Company.