Omium, a Montreal perfume manufacturer, needs time to reorganize its financial affairs after its latest fragrance, Tulipe, stinks up the retail market. The company has total outstanding debts of $3 500 000. Several years ago it issued debentures in series in order to be able to file under the Companies Creditors' Arrangement Act and remain in business. By doing so, it will be able to evade the claims of all creditors for a time.

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The Answer of Omium, a Montreal perfume manufacturer, needs time to reorganize its financial affairs after its latest fragrance, Tulipe, stinks up the retail market. The company has total outstanding debts of $3 500 000. Several years ago it issued debentures in series in order to be able to file under the Companies Creditors' Arrangement Act and remain in business. By doing so, it will be able to evade the claims of all creditors for a time.

Omium, a Montreal Perfume Manufacturer, Needs Time to Reorganize Its