Kwok W.

BEWARD! I am a regular merchant of TeamBuy. I've hosted more than 5 deals with them. The past year. 3 of them have not been paid. I was sent the same email regarding payments not being paid out to merchants before August 29. They owe me a ton of money. I decided to investigate the company further and was pointed to a company called MNP. MNP told me this company filed for Corporate Insolvency. I'd just like to warn any new merchants who think they'll get paid and customers as well because this company may be going down soon. Here is the response I got from MNP (this was an automated message generated when contacting the email *******@mnp.ca):

On August 29,2014, each of Couch Commerce Inc., Dealfind.com Inc., Menupalace.com Corporation and ******* Canada Inc. (the Couch Group or the Companies) filed a Notice of Intention to Make A Proposal (NOI) under the Bankruptcy & Insolvency Act.

Further to this filing, the Couch Group as part of its restructuring will be seeking Court approval of a sale of its assets and business to nCrowd Inc. (nCrowd) so that nCrowd can continue the Couch Groups business. The decision to file the NOI was made to help ensure that the proposed sale to nCrowd can be completed in a manner that treats all of the Companies creditors in accordance with their respective rights.

The Couch Group will be keeping all its creditors up to date on the progress of the sale transaction. Once a Proposal is finalized each creditor will get an opportunity to vote on whether or not to accept that Proposal.

The NOI process is not the same as bankruptcy or receivership. As part of the NOI process, the Couch Group is being given an opportunity to restructure its business through the sale transaction with the objective of nCrowd returning to profitability.

The Couch Group has retained MNP Ltd to act as the trustee in these proceedings. As trustee we will not be involved in the day-to-day operation of the business. As these proceedings progress, additional publicly available information will be posted on our website www.mnpdebt.ca/couchcommerce