Clearfit Inc. has been under the receivership of Baigel Corp. since June 3, 2024, when the Ontario Superior Court of Justice appointed the firm as Receiver under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act on the application of David Kassie, a related party. The proceeding is active under court file CV-24-720152-00CL. The Receiver's preliminary review identified secured claims of USD 1,310,515 owing to the Business Development Bank of Canada, USD 458,680 held jointly by Grandbanks Capital Venture Fund II LP and Kassie, and approximately USD 104,160 owing to Kassie alone. On the unsecured side, CareerExact is shown at CAD 1,822,415, Grandbanks and Kassie at USD 421,061 each, and RBC at CAD 60,000.
The court granted an approval and vesting order for the sale to David Kassie. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate to the Purchaser confirming payment of the Purchase Price and satisfaction of Closing conditions.
Source: Approval and Vesting Order
7 earlier updates, back to 3 June 2024 — subscribers.
2 filings carry no date on their face — subscribers.
Debtor
Clearfit Inc.
Receiver
Baigel Corp.
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Black | Ontario Superior Court of Justice | 3 orders, Jun 2024 | 176 cases on record |
| Justice Kimmel | Ontario Superior Court of Justice | 2 orders, Oct 2024 | 182 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBaigel Corp. | Torkin Manes LLP | 7 Oct 2024 | Order · 7 Oct 2024 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Business Development Bank of Canada · in 241 casesas of date of Pre-Appointment Report (approximate) — debtor: Clearfit Inc. | $1.31M USD | Pre-Filing Report to Court – Receiver |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Sale process approved — The Sale Process is approved and the Kassie APA is approved as a backup bid, subject to further order for closing.Sale Process Approval Order · 3 Jun 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| David KassieStalking horsethe Debtor's right, title and interest in and to the assets described in the APA (the ' Purchased Assets ') · asset sale · nominee/assignee: a company to be designated · agreement 7 Oct 2024 | Subscribers | Approved3 Jun 2024 | Sale Process Approval Order |
1 engagement · 1 firm — Baigel Corp., 21 Nov 2023 – 30 Sep 2024Motion Record – Receiver · 1 Oct 2024
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Baigel Corp.Receiver | 21 Nov 2023 – 30 Sep 2024 | — | ••• | ••• | Motion Record – Receiver · 1 Oct 2024 |
| Date | Document | File |
|---|---|---|
Ancillary Relief Order
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Endorsement of Justice Kimmel
| PDF · Subscribers | |
Motion Record – Receiver
| PDF · Subscribers | |
Endorsement of Justice W. D. Black
| PDF · Subscribers | |
Opportunity Teaser – Clearfit Inc. operating as Career Spark
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Sale Process Approval Order
| PDF · Subscribers | |
Pre-Filing Report to Court – Receiver
| PDF · Subscribers | |
Application Record – Applicant
| PDF · Subscribers | |
| Sale Process Bidding Procedures | PDF · Subscribers | |
| Service List – Updated 30 September 2024 | 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., “Clearfit Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/clearfit-inc
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/clearfit-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.