AVAD Canada Ltd.
- Proceeding
- BankruptcySection 49 of the Act; Rule 85
- File
- 32-2738181
AVAD Canada Ltd. is in bankruptcy, with MNP Ltd. as trustee under estate file 32-2738181. The bankruptcy took effect at 10:57 on May 18, 2021, following a receivership dated March 17, 2021, in which the Receiver was authorized to distribute to MidCap Funding IV Trust from the JMCB Account. MidCap, as agent for secured lenders, was AVAD Canada's only secured creditor, owed USD 525,400 on a General Security Agreement dated October 2, 2018 that counsel determined to be valid, enforceable and the only registered security interest over the Assets. On the unsecured side, the Canada Revenue Agency claims $417,500 for unpaid HST against company records showing $202,900, and the books reflect roughly $1.1 million in further unsecured claims.
Certificate of Appointment was filed. Court file 32-2738181.
Source: Certificate of Appointment
Debtor
AVAD Canada Ltd.
Trustee in bankruptcy
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | MidCap Funding IV Trust (as agent for secured lenders) · in 2 casesas of Receivership Order date / Filing Date (March 17, 2021) — General Security Agreement dated October 2, 2018 (the "MidCap Security"), pursuant to Credit and Security Agreement dated October 2, 2018; determined by counsel to be valid, enforceable, and the only registered security interest over the Assets — Stated as the only secured creditor of AVAD Canada ('MidCap was the only secured creditor of AVAD Canada'); Receiver authorized distribution to MidCap from JMCB Account — debtor: AVAD Canada Ltd. | $525K USD | Trustee Preliminary Report |
| 6 | Landlord preferred | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
5 more claims in 2 classes The stack holds Secured, Landlord preferred and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Minutes of the First Meeting of Creditors
| PDF · Subscribers | |
Trustee Preliminary Report
| PDF · Subscribers | |
Creditors Package
| PDF · Subscribers | |
Certificate of Appointment
| 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., “AVAD Canada Ltd.” (Bankruptcy). Retrieved 4 November 2026, https://proceedings.ca/case/avad-canada-ltd