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Priszm - Notice of Subsequent DO Claims Bar Date _english_

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Priszm - Notice of Subsequent DO Claims Bar Date _english_ Powered By Docstoc
					NOTICE IN RESPECT OF CLAIMS THAT AROSE SUBSEQUENT TO JUNE 30, 2011,
AGAINST THE CURRENT AND FORMER DIRECTORS AND OFFICERS OF PRISZM
INCOME FUND, PRISZM CANADIAN OPERATING TRUST, PRISZM INC., KIT
FINANCE INC. AND PRISZM LP AND/OR DEBORAH PAPERNICK AND/OR 2279549
ONTARIO INC. AND/OR JIM ROBERTSON AND/OR 2289500 ONTARIO INC.
(collectively, the “Directors and Officers”)

TO:                  CREDITORS AND TO ANY OTHER PERSON OR PARTIES

RE:                  NOTICE OF THE D&O CLAIMS PROCEDURE AND BAR DATE FOR
                     CLAIMS SUBSEQUENT TO JUNE 30, 2011

PLEASE TAKE NOTICE that this notice is being published pursuant to the orders of the
Ontario Superior Court of Justice (Commercial List) (the “Court”) dated June 29, 2011 (the
“D&O Claims Order”) and September 14, 2011 (the “Appointment Order”).

Priszm Income Fund, Priszm Canadian Operating Trust, Priszm Inc., Kit Finance Inc. and Priszm
LP (collectively, the “Priszm Entities”) obtained protection from their creditors under the
Companies’ Creditors Arrangement Act (Canada) pursuant to an order of the Court dated March
31, 2011, as amended and restated from time to time. The procedure for the solicitation of claims
against the Directors and Officers (the “D&O Claims Procedure”) was approved by the Court
in the D&O Claims Order. The D&O Claims Order established an initial bar date of 5:00 p.m.
(Eastern Standard Time) on September 15, 2011 for the filing of claims against the Directors and
Officers that arose on or before June 30, 2011.

On September 14, 2011, the Court granted the Appointment Order which appointed RSM
Richter Inc.1 (“Richter”) as receiver (the “Receiver”) of the Priszm Entities. Such appointment
became effective on September 21, 2011.

Amongst other things, the Appointment Order provides that the Receiver shall complete the
D&O Claims Procedure and establish a bar date for the filing of claims against the Directors and
Officers that arose subsequent to June 30, 2011.

Any person who believes that it has a claim against one of more of the Directors and Officers
which arose subsequent to June 30, 2011 (a “Subsequent D&O Claim”) should contact the
Receiver to obtain a claim form (a “D&O Claim Form”). The D&O Claim Form must be
submitted to the Receiver at the address below by no later than 5:00 p.m. (Eastern Standard
Time) on March 9, 2012 (the “Subsequent D&O Claims Bar Date”). The Receiver’s address
and contact particulars are as follows:

           Duff & Phelps Canada Restructuring Inc.
           200 King Street West, Suite 1002
           Toronto, ON M5H 3T4



1
  On December 9, 2011, the assets used by Richter in Toronto were acquired by Duff & Phelps Canada
Restructuring Inc. (“D&P”). Pursuant to an order of the Court issued on December 12, 2011, D&P was substituted
in place of Richter in certain ongoing mandates, including as Receiver of the Priszm Entities. The licensed
trustees/restructuring professionals overseeing this mandate prior to December 9, 2011 remain unchanged .

LEGAL_1:22594501.4
                                             -2-


           Attention:   Lana Bezner
           Telephone:   416-932-6009
           Fax:         647-497-9476
           Email:       lana.bezner@duffandphelps.com

SUBSEQUENT D&O CLAIMS WHICH ARE NOT RECEIVED BY THE SUBSEQUENT
D&O CLAIMS BAR DATE WILL BE BARRED AND EXTINGUISHED FOREVER.

Persons who filed claims against the Directors and Officers for matters arising on or prior
to June 30, 2011 need not file another claim for that period.




LEGAL_1:22594501.4

				
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