Business
Bankruptcy Application Filed by Belgravia Capital Against Zonetail has been Dismissed
Toronto, Ontario--(Newsfile Corp. - August 17, 2020) - Zonetail Inc. (TSXV: ZONE) ("Zonetail" ...
About this update from Zonetail, Inc.
[{"type":"text","content":"Bankruptcy Application Filed by Belgravia Capital Against Zonetail has been DismissedToronto, Ontario--(Newsfile Corp. - August 17, 2020) - Zonetail Inc. (TSXV: ZONE) (\"Zonetail\" or the \"Company\"), is pleased to advise that Madam Justice Barbara Conway of the Commercial List of the Ontario Superior Court of Justice dismissed a bankruptcy application that had been filed against Zonetail. Accordingly, there is no longer any bankruptcy proceeding pending against Zonetail.Briefly, on June 20, 2019, Belgravia Capital International Inc. (\"Belgravia\"), initiated a bankruptcy application before the Ontario Court against Zonetail alleging that Zonetail had ceased to meet its liabilities generally as they came due. Belgravia did not thereafter take any steps to bring its application forward for a determination by the Court. Zonetail filed responding affidavits confirming that it is solvent and meeting its liabilities generally as they fall due. The parties consented to an order dismissing the bankruptcy application which order was granted last week.Mark Holmes, CEO of Zonetail stated, \"This action has had, and continues to have, a damaging effect on the Company's operations, and cost of raising capital since it was filed over a year ago. The fact that Belgravia filed the claim but did not bring its application forward in the courts speaks volumes as to its merits. We are pleased to see this claim finally dismissed.\"About ZonetailZonetail is a mobile platform for hotels and condominiums providing guests and residents access and interaction with building amenities and services as well as neighboring restaurants, stores, services, and attractions.Zonetail is partnered with AAHOA, the largest association of hoteliers in the world, representing over 25,000 hotels and 50% of the US market. Zonetail is also partnered with Shiftsuite, one of the largest property management system software providers to the condo industry in Canada, with approximately 2,000 condo buildings, representing an estimated 400,000 units. Zonetail has offices in Toronto, Ontario and San Dimas, California.For more information, please visit https://www.zonetail.com.For further information, please contact:Zonetail Inc.Mark HolmesCEO & PresidentPhone: (416) [email protected] SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES AC...