January 18, 2017
Update on Timing of Distributions
We have previously reported that prior to any distribution to Danier’s employees, Service Canada must do a review of the payments that have been made to employees under the Employment Insurance Act. The Trustee in Bankruptcy of Danier Leather Inc. has informed us that Service Canada’s review of the initial distributions is taking longer than expected, and we have been told that Service Canada has advised that it is unlikely to complete the review until March of 2017, with the initial distribution following promptly after that. We understand that the Trustee is in frequent contact with Service Canada to complete its review as quickly as possible so that payments can be made to employees as quickly as possible. We will provide further updates when we know more.