ClearPier Acquisition Corp. and 1000238820 Ontario Inc.
- Proceeding
- CCAACCAA
ClearPier Acquisition Corp. and 1000238820 Ontario Inc. remain under CCAA protection, with the stay of proceedings now running to July 31, 2026. Proceedings commenced April 2, 2025 under an initial stay expiring April 14, 2025, which has since been extended in successive steps through August 7, September 30, October 10 and October 31, 2025, December 31, 2025 and March 31, 2026. A bid deadline, marking the end of Phase 1, was set for June 4, 2025. Export Development Canada is the applicants' only secured creditor, owed amounts in excess of approximately CDN$30.5 million and US$40 million under a September 8, 2022 credit agreement. On a consolidated book-value basis at December 31, 2024, the CPAC Group's liabilities of US$75,110,823 exceeded assets of US$51,808,140 by US$23,302,682.
Compendium of the Applicant (Motion returnable July 29, 2026) — Application / notice of application
Factum of the Monitor (Approval and Vesting Order and Stay Extension and Ancillary Order) was filed.
Source: Factum of the Monitor (Approval and Vesting Order and Stay Extension and Ancillary Order)
Motion Record (Approval and Vesting Order, Stay Extension and Ancillary Order) — Application / notice of application
Motion Record (Stay Extension Order) – dated October 28, 2025 — Application / notice of application
Order (Stay Extension and Monitor’s Enhanced Powers) was filed.
Source: Order (Stay Extension and Monitor’s Enhanced Powers)
Notice of Motion (Stay Extension and Monitor’s Enhanced Powers) — Application / notice of application
The stay of proceedings was extended to 2025-08-07.
Source: Amended and Restated Initial Order – dated April 10 2025
Book of Authorities (Re: Amended and Restated Initial Order and SISP Order) – dated April 7 2025 — Amended and restated initial order
Motion record (Re: Amended and Restated Initial Order and SISP Order) – dated April 7 2025 — Application / notice of application
ClearPier Acquisition Corp. and 1000238820 Ontario Inc. — CCAA filed, Ontario.
Source: Initial Order
Book of Authorities of the Applicants- dated April 1 2025 — Application / notice of application
Outcome brief
ClearPier: EDC gets the receiver it asked for before the CCAA
On July 29, 2026 Justice Cavanagh ended the CCAA of two Toronto holding companies and appointed Richter receiver, on the application Export Development Canada, owed more than C$36 million and US$40 million, had brought before they filed. The share sale approved in December was terminated by its buyer in June; the monitor kept his deposit.
Precedent note
What stay extensions are actually granted
Seven CCAA files, three provinces, and no two extensions alike — four days because the court could not sit, twenty days more than the debtor asked for, a full year when all that is left of the company is a lawsuit. The boundary is the case's own calendar.
Debtor
ClearPier Acquisition Corp. and 1000238820 Ontario Inc.
Monitor
Richter
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 14 orders, Apr 2025 – Jul 2026 | 310 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Jul 2026 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorRichter | McCarthy Tétrault LLP | 28 Oct 2025 | Application · 28 Oct 2025 |
| ApplicantClearPier Acquisition Corp. and 1000238820 Ontario Inc. | Norton Rose Fulbright Canada LLP · Stikeman Elliott LLP | 2 Apr 2025 | Application · 22 Jul 2026 |
| CreditorExport Development Canada | Norton Rose Fulbright Canada LLP | 9 Apr 2025 | Service list · 9 Apr 2025 |
| CreditorRoyal Bank of Canada | McMillan LLP | 9 Apr 2025 | Service list · 9 Apr 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Export Development Canada (EDC) · in 106 casesas of currently owed (as stated in Pre-Filing Report, April 1, 2025) — Secured under Credit Agreement dated September 8, 2022 against the assets of CPAC, 1002 Ontario, PubPlus, Cygobel and KPM, and the shares of HMA; EDC also holds unsecured guarantees from Additional Guarantors (ClearPier Inc., CPP, Solavid Inc., Advinteo Inc., Vexigo Inc., MQ) — Stated as 'currently owed amounts in excess of approximately ... US$40 million' (floor, not exact dated balance; word 'excess of'). Original USD advances were Facility B US$20,100,000 (KPM/Cygobel acquisition) and Facility C US$14,800,000 (HMA acquis | $40M USD | Pre-Filing Report of the Proposed Monitor Richter Inc. |
| Secured |
1 more claim in 1 class The stack holds Secured claims.
Every creditor and every amount.
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See all plansEDC: shortfall.EstimatedFourth Report of the Monitor Richter Inc. · 7 Oct 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | EDC | — | shortfall | Estimatedper the monitor | Fourth Report of the Monitor Richter Inc. · 7 Oct 2025 |
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.
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Counsel Endorsement Slip
| PDF · Subscribers | |
| Counsel Endorsement Slip – dated July 29, 2026 | Trustee site | |
| Order (Appointing Receiver) – dated July 29, 2026 | Trustee site | |
Order – (Termination and Discharge)
| PDF · Subscribers | |
| Compendium of the Applicant (Motion returnable July 29, 2026) | PDF · Subscribers | |
Factum of Export Development Canada (Receivership Application returnable July 29, 2026)
| PDF · Subscribers | |
| Eighth Report of the Monitor | PDF · Subscribers | |
AMENDED Notice of Application
| PDF · Subscribers | |
| Application Record | PDF · Subscribers | |
Counsel Endorsement Slip – dated March 31, 2026
| PDF · Subscribers | |
Order (Stay Extension)
| PDF · Subscribers | |
Factum of the Monitor (Stay Extension)
| PDF · Subscribers | |
| Motion Record (Stay Extension Order) | PDF · Subscribers | |
| Seventh Report of the Monitor Richter Inc. | PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Counsel Endorsement Slip – dated December 17, 2025
| PDF · Subscribers | |
Order (Stay Extension and Ancillary Relief)
| PDF · Subscribers | |
Factum of the Monitor (Approval and Vesting Order and Stay Extension and Ancillary Order)
| PDF · Subscribers | |
| Sixth Report of the Monitor Richter Inc. | PDF · Subscribers | |
Motion Record (Approval and Vesting Order, Stay Extension and Ancillary Order)
| PDF · Subscribers | |
Counsel Endorsement Slip – dated October 30, 2025
| PDF · Subscribers | |
Order (Stay Extension) – dated October 30, 2025
| PDF · Subscribers | |
| Fifth Report of the Monitor Richter Inc. | PDF · Subscribers | |
Motion Record (Stay Extension Order) – dated October 28, 2025
| PDF · Subscribers | |
Order (Stay Extension and Monitor’s Enhanced Powers)
| PDF · Subscribers | |
Factum of Export Development Canada
| PDF · Subscribers | |
Fourth Report of the Monitor Richter Inc.
| PDF · Subscribers | |
Notice of Motion (Stay Extension and Monitor’s Enhanced Powers)
| PDF · Subscribers | |
Counsel Endorsement Slip – dated September 26, 2025
| PDF · Subscribers | |
Order (Second Stay Extension)
| PDF · Subscribers | |
| Third Report of the Monitor Richter Inc. | PDF · Subscribers | |
| Motion Record – (Second Stay Extension) | PDF · Subscribers | |
Counsel Endorsement
| PDF · Subscribers | |
Order (Stay Extension) – dated August 7, 2025
| PDF · Subscribers | |
| Second Report of the Monitor Richter Inc. | PDF · Subscribers | |
Application Record (Stay Extension)
| PDF · Subscribers | |
| REVISED Key Milestones and Deadlines under this SISP | PDF · Subscribers | |
Amended and Restated Initial Order – dated April 10 2025
| PDF · Subscribers | |
Counsel – Endorsement Clip
| PDF · Subscribers | |
Sale and Inverstment Solicitaion Process Order – dated April 10 2025
| PDF · Subscribers | |
| Creditor List | PDF · Subscribers | |
| First Report of the Monitor Richter Inc. | PDF · Subscribers | |
Service List – Updated April 9, 2025
| PDF · Subscribers | |
| Monitor’s Notice to Creditors of Initial Order | PDF · Subscribers | |
| Book of Authorities (Re: Amended and Restated Initial Order and SISP Order) – dated April 7 2025 | PDF · Subscribers | |
Factum of the Applicants (Re: Amended and Restated Initial Order and Solicitation Order) – dated April 7 2025
| PDF · Subscribers | |
| Motion record (Re: Amended and Restated Initial Order and SISP Order) – dated April 7 2025 | PDF · Subscribers | |
Counsel – Endorsement Slip – dated April 2, 2025
| PDF · Subscribers | |
Form 1
| PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
| Book of Authorities of the Applicants- dated April 1 2025 | PDF · Subscribers | |
| Factum of the Applicants – dated April 1 2025 | PDF · Subscribers | |
Pre-Filing Report of the Proposed Monitor Richter Inc.
| PDF · Subscribers | |
Application Record – dated March 31, 2025
| 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., “ClearPier Acquisition Corp. and 1000238820 Ontario Inc.” (CCAA), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/clearpier-acquisition-corp-and-1000238820-ontario-inc