Stalking Horse Bid Entered As Datatax Business Services Limited Enters Sale Solicitation Process
On August 14, 2023,
Datatax Business Services Limited, an income tax and accounting company based
in Calgary, filed a Notice of Intention to Make a Proposal (“NOI”) under
subsection 50.4(1) of the Bankruptcy and Insolvency Act.
Prior to filing the NOI, Datatax entered into a stalking horse asset purchase agreement with 2872802 Ontario Inc., subject to higher or otherwise better offers. The deadline for qualified bids to be submitted is September 29, 2023, at 12 p.m. EST.
Alongside Siskinds LLP, Aird & Berlis is advising the stalking horse bidder with a team led by Sanjeev Mitra and Sam Babe (Insolvency & Restructuring).