Paragon Sales Ltd. et al

PARAGON SALES LTD., LANGENBURG MOTORS (1967) LTD., and 616001 SASKATCHEWAN LTD. (collectively, the “Companies“)

On February 20, 2026, the Toronto-Dominion Bank (the “Applicant“) sought and obtained an initial order (the “Initial Order“) under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”). GlassRatner Restructuring Inc. was appointed as Monitor (the “Monitor“) of the Companies. The Initial Order provides, among other things, a stay of proceedings until March 2, 2026 (the “Stay Period“) which may be extended by the Court of King’s Bench for Saskatchewan in Bankruptcy and Insolvency (the “Court“) from time to time.

On April 1, 2026, the Monitor obtained an order from the Court (the “SISP Order”) approving the sale and investment solicitation process (the “SISP“) for the sale of the Companies’ assets or investment in the Companies’ businesses. The deadline for submission of a non-binding letter of intent is 5:00 p.m. Central Time, on May 8, 2026 (Revised Phase I bid deadline), and the deadline for the submission of a formal offer is 5:00 pm Central Time, on June 16, 2026 (Phase II bid deadline).

Relevant documents can be found below.

Creditor Inquiries

For creditor inquiries, please contact the Monitor at paragon@glassratner.com or (416) 434-9584.

The case updates and court filed documents on this website are for information purposes only and you should consult your financial or legal adviser if you have any questions or concerns about your rights or obligations. Additional updates on the status of these proceedings may become available in the future.