#Sale
The court granted an approval and vesting order for the sale to Action International Pty. Ltd. Closing terms, as extracted: Vesting occurs upon the Monitor filing an Implementation Certificate confirming closing conditions fulfilled.
Action International Canada Inc.
FollowActive
- Proceeding
- CCAACOMPANIES' CREDITORS ARRANGEMENT ACT, R.S.C. 1985, C. C-36, AS AMENDED
- File
- 0501-07476
OverviewSummary updated
Action International Canada Inc. is the subject of proceedings under the Companies' Creditors Arrangement Act before the Court of King's Bench of Alberta, on the application of Master Franchise Income Trust L.P. Ernst & Young Inc. was appointed monitor. The proceeding commenced on May 19, 2005 under court file number 0501-07476 and remains active.
Claims processIf you are owed money
A claims procedure has been established — see the order for deadlines.
FormProof of Claim
Proceedings AIAsk this case — answers cite the filings
Case updates22 dated entries
#Report
The officer filed report no. Ninth Report. AIC continues normal daily operations with no material adverse changes since the prior report, while awaiting completion of the sale of the Master Licence Agreement to AIPL and subsequent wind-down into bankruptcy.
Source: Ninth Report of the Monitor
19 earlier updates, back to 19 May 2005 — subscribers.
Parties
Debtor
Action International Canada Inc.
Monitor
EY
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Horner | Court of King's Bench of Alberta | 3 orders, Nov 2005 – Jul 2006 | 50 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorEY | Fraser Milner Casgrain LLP (now Dentons Canada LLP) | 31 Jul 2006 | Order · 31 Jul 2006 |
| DebtorAction International Canada Inc. | Macleod Dixon LLP (now Norton Rose Fulbright Canada LLP) | 27 Apr 2006 | Order · 27 Apr 2006 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Master Franchise Income Trust L.P. (MFIT)Document states AIC's books and records indicate it 'currently owes MFIT in excess of $6.2 million'; described as floor via 'in excess of'; also described as 'the only secured creditor and the largest stakeholder' — debtor: Action International Canada Inc. | $6.2M | Second Report of the Monitor |
Sale processAs stated in the filings
2 transactions · 1 proposed · 1 approved — Agreement approved and ratified; sale of Assets authorized to be implementedOrder Confirming Sale and Vesting Order · 5 Oct 2006
| Purchaser | Price | Status | Source |
|---|---|---|---|
| AIPLthe MLA, and related Property · asset sale · nominee/assignee: AIPL's nominee · agreement 31 Aug 2006 | Subscribers | Proposed | Ninth Report of the Monitor |
| Action International Pty. Ltd.the Assets and assignment of the Contracts · asset sale · nominee/assignee: its nominee | not stated | Approved5 Oct 2006outside 17 Oct 2006 | Order Confirming Sale and Vesting Order |
Closing termsVesting occurs upon the Monitor filing an Implementation Certificate confirming closing conditions fulfilledOrder Confirming Sale and Vesting Order
RecoveriesAs stated in the filings
Unsecured creditors: no distribution. MFIT short.Notice of Motion and King Affidavit · 20 Sep 2006
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | MFIT | — | shortfall | Estimatedper the monitor | Ninth Report of the Monitor · 28 Sep 2006 |
| Unsecured | — | — | no distribution | per the debtor | Notice of Motion and King Affidavit · 20 Sep 2006 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
Estate financialsReported figures — never derived
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Cash on hand
$31K
As at 28 Sep 2006Ninth Report of the Monitor
Documents
22 filings
| Date | Document | File |
|---|---|---|
Order Confirming Sale and Vesting Order
| PDF · Subscribers | |
Ninth Report of the Monitor
| PDF · Subscribers | |
Notice of Motion and King Affidavit
| PDF · Subscribers | |
| Eighth Report of the Monitor | PDF · Subscribers | |
Order
| PDF · Subscribers | |
| Seventh Report of the Monitor, with signatures | PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
Stay Extension Order - Stay Period Extended to July 31, 2006
| PDF · Subscribers | |
Stay Extension Order - Stay Period Extended To May 4 2006
| PDF · Subscribers | |
| Sixth Report of the Monitor | PDF · Subscribers | |
| Fifth Report of the Monitor | PDF · Subscribers | |
| Fourth Report of the Monitor | PDF · Subscribers | |
| Reasons for Judgment | PDF · Subscribers | |
Stay Extension Order
| PDF · Subscribers | |
| Third Report of the Monitor | PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
Court Order
| PDF · Subscribers | |
First Report of the Monitor
| PDF · Subscribers | |
| Affidavit of Stephen King | PDF · Subscribers | |
Monitor's Notice
| PDF · Subscribers | |
Ex-Parte Order and Letter to Creditors
| PDF · Subscribers | |
| Affadavit of Steven King | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Action International Canada Inc.” (CCAA), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/action-international-canada-inc