Coalision, the Canadian company that owns the Lolë and Paradox brands, has filed for insolvency, indicating its intention to offer a settlement to its creditors. One year ago, Coalision parted ways with its previous president, Bernard Mariette, and laid off some of its employees. Mariette, a former president of Quiksilver, became chairman of the company. Reportedly, he and the Pelican Investment fund held 85 percent of the company’s shares at the time through a joint investment company based in San Francisco, Simon Investment. Pelican and Simon are both named among the creditors under the current proceedings. Until seven years ago, Coalision was also the owner of a skiwear brand, Orage, which was then acquired by a co-founder of the group, Eric D’Anjou, and its marketing and sales manager, Mike Nick.