Proceedings.

Devonshire Trust (Metcalfe & Mansfield Alternative Investment VII Corp.)

ActiveFollow
Proceeding
CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
Court
Ontario Superior Court of Justice
File
CV-14-10609-00CL
Industry
Financial services · Investment funds & schemes
Filings held47
Last activity19 Mar 2020
On the record4,503 days
OverviewSummary updated

Devonshire Trust has been under CCAA protection in the Ontario Superior Court of Justice (Commercial List) since June 27, 2014, on an application by Metcalfe & Mansfield Alternative Investments VII Corp., the conduit's issuer trustee, under court file CV-14-10609-00CL. Deloitte Restructuring Inc. is monitor. Unaudited figures for the conduit as at June 1, 2014 show total assets of $745,264,742 against liabilities of $766,903,014, a deficit of $21,638,272, with assets including contingent Barclays settlement amounts payable only on implementation of the proposed Plan. Liabilities include $513,931,389 of commercial paper, $165,000,000 of floating-rate notes and $87,801,093 of accrued interest. Barclays Bank PLC, holder of perfected security and the swap counterparty, subordinated its security under the Settlement Agreement, and its claims against the CCAA Parties are to be compromised and extinguished under the Plan. Noteholders include Caisse de Dépôt et Placement du Québec, holding approximately $385,000,000 in face value. The proceeding remains active.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Schedule 3 dated 8 July 2014.

Proceedings AIOpen Proceedings AI⁠
Ask in plain language. The answer comes only from this case’s filings, each one cited.
Enter to send · Shift+Enter for a new line
Open this case in Proceedings AI⁠Save your chats, keep long conversations going, and ask across every case.
Case updates45 dated entries · 2 undated
#Report

The officer filed report no. Fourth Report. The Conduit has no ongoing business operations; it is being wound down under the CCAA Plan, with the Monitor administering Plan Reserve accounts and awaiting resolution of a CRA tax dispute before making a final Interest Distribution and terminating the Conduit.

Source: Monitor’s Fourth Report

#Report

The officer filed report no. Third Report. The report covers the amendment to the Plan, the Noteholders' Meeting on August 7, 2014 at which the Amended Plan was unanimously approved, and the Monitor's request that the Amended Plan be sanctioned. The Monitor's review of pre-filing transactions found no preferences, fraudulent conveyances or transactions at undervalue.

Source: Monitor’s Third Report dated August 15, 2014

#Report

The officer filed report no. Second Report. The CCAA Parties are proceeding toward a creditors' meeting, sanction of the Plan and an initial distribution to Noteholders, funded mainly by a projected Settlement Agreement payment (~$728M inflows in week 8). The Monitor is still reviewing pre-filing transactions and supports extending the stay to September 15, 2014.

Source: Monitor’s Second Report

#Filing

CCAA application filed, opening the proceeding in the Ontario Superior Court of Justice (Commercial List) under court file number CV-14-10609-00CL.

Source: Notice of Application

Undated filings2 — no date appears on the document · show
Parties

Debtor

Devonshire Trust (Metcalfe & Mansfield Alternative Investment VII Corp.)

Monitor

Deloitte

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice NewbouldOntario Superior Court of Justice6 orders, Jul 2014 – Aug 2014111 cases on record

Counsel of record

PartyCounselFirst seenSource
MonitorDeloitteOsler, Hoskin & Harcourt LLP27 Feb 2017Order · 27 Feb 2017
ApplicantDevonshire Trust (Metcalfe & Mansfield Alternative Investment VII Corp.)Fasken Martineau DuMoulin LLP8 Jul 2014Order · 8 Jul 2014
CreditorCaisse de dépôt et placement du QuébecNorton Rose Fulbright Canada LLP14 Aug 2014Service list · 14 Aug 2014
CreditorCIBC Mellon Trust Company, Indenture and The Bank of New York Mellon, CustodianBennett Jones LLP14 Aug 2014Service list · 14 Aug 2014
CreditorNational Bank Financial and National Bank of CanadaStockwoods LLP11 Sep 2014Service list · 11 Sep 2014
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredCIBC Mellon · in 2 casesRegistered as Indenture Trustee, registering the security interest granted to the Noteholders pursuant to the Trust Indenture — Registration confirmed by PPSA and RPMRR searches; acts on behalf of Noteholders, not a creditor in its own right — debtor: Metcalfe & Mansfield Alternative Investments VII Corp. (Issuer Trustee of Devonshire Trust)—Monitor’s First Report
4Secured
8Unsecured
8Unsecured
8Unsecured
8Unsecured
8Unsecured

6 more claims in 2 classes The stack holds Secured and Unsecured claims.

Every creditor and every amount, drawn to scale.

Start 5-day trial

Card required. Nothing charged for 5 days. Cancel anytime.

Already a subscriber? Sign in.

See all plans⁠

“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

RecoveriesAs stated in the filings

Unsecured creditors: paid in full.Under the plan · sanctionedSecond Amended Plan of compromise and Arrangement · 27 Feb 2017

ClassCreditorClaimsRecoveryBasisSource
UnsecuredNoteholders with Proven Claims—paid in fullconditionalUnder the plansanctionedper the debtorSecond Amended Plan of compromise and Arrangement · 27 Feb 2017

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.

1 blurred figure above

The claims and what each class or creditor recovers — each as the filing states it, with its source.

Start 5-day trial

Card required. Nothing charged for 5 days. Cancel anytime.

Already a subscriber? Sign in.

See all plans⁠
Estate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing

As at ·

Cash on hand

$2.39M

As at 1 Jun 2014Monitor’s Second Report

The 2 totals the debtor stated at filing

Each one as the filing states it, with its source.

Start 5-day trial

Card required. Nothing charged for 5 days. Cancel anytime.

Already a subscriber? Sign in.

See all plans⁠
Documents
47 filings
DateDocumentFile
Monitor's CertificateTrustee site
Endorsment of Plan of Compromise by Hainey JPDF · Subscribers
Order (Plan Amendment)
  • Counsel Osler, Hoskin Harcourt LLP
PDF · Subscribers
Second Amended Plan of compromise and Arrangement
  • Recovery outcome Entries: per plan · Table missing:
PDF · Subscribers
Monitor’s Fourth Report
  • Operational summary The Conduit has no ongoing business operations; it is being wound down under the CCAA Plan, with the Monitor administering Plan Reserve accounts and awaiting resolution of a CRA tax dispute before making a final Interest Distribution and terminating the Conduit.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Letter to Service list- Administrative amendment to the Plan of Arrangement and Compromise
  • Counsel Norton Rose Fulbright Canada LLP
PDF · Subscribers
Endorsement of Plan of Compromise by J. NewbouldPDF · Subscribers
Issued and Entered Sanction Order of J. Newbould
  • Counsel FASKEN MARTINEAU DnMOULIN LLP
  • Presiding officer Justice Newbould
PDF · Subscribers
Schedule 4
  • Presiding officer Justice Newbould
PDF · Subscribers
Unofficial Transcription of Endorsement of Plan of Compromise by J. NewbouldPDF · Subscribers
Monitor’s Third Report dated August 15, 2014
  • Operational summary The report covers the amendment to the Plan, the Noteholders' Meeting on August 7, 2014 at which the Amended Plan was unanimously approved, and the Monitor's request that the Amended Plan be sanctioned. The Monitor's review of pre-filing transactions found no preferences, fraudulent conveyances or transactions at undervalue.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Motion Record Index for the CCAA Sanction HearingPDF · Subscribers
Service List
  • Counsel Bennett Jones LLP
PDF · Subscribers
Amended September 11 - Plan of Compromise and Arrangement
  • Recovery outcome Entries: per plan · Stated on: 2014-08-06 · Table missing:
PDF · Subscribers
Amended September 11 - Plan of Compromise and Arrangement (Blackline)
  • Recovery outcome Entries: per plan · Stated on: 2014-08-06 · Table missing:
PDF · Subscribers
Instructions to NoteholdersPDF · Subscribers
Order approving the First Extension until September 15, 2014 and the Monitor's Second Report
  • Counsel FASKEN MARTINEAU DuMOULIN LLP
  • Presiding officer Justice Newbould
PDF · Subscribers
Monitor’s Second Report
  • Cash on hand · Disbursements · Financial position · Operational summary Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Motion Record for the First Extension and Approval of Monitor's ReportPDF · Subscribers
Notice of proceedings
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Claims Procedure and Meeting Order
  • Counsel FASKEN MARTINEAU DuMOULIN LLP
  • Presiding officer Justice Newbould
PDF · Subscribers
Initial Order
  • Applicant Metcalfe & Mansfield Alternative Investments VII Corp.
  • Appointee Deloitte Restructuring Inc.
  • Appointee role monitor
  • Counsel FASKEN MARTINEAU DuMOULIN LLP
  • + 5 more extracted facts
PDF · Subscribers
Proxy Form
PDF · Subscribers
Schedule 2
  • Applicant Metcalfe & Mansfield Alternative Investments VII Corp.
  • Appointee Deloitte Restructuring Inc.
  • Appointee role monitor
  • Commencement date 8 July 2014
  • + 4 more extracted facts
PDF · Subscribers
Schedule 3PDF · Subscribers
Voter Identification Form
PDF · Subscribers
Motion Record of the ApplicantPDF · Subscribers
Applicant’s Book of AuthoritiesPDF · Subscribers
Applicant’s FactumPDF · Subscribers
Monitor’s First Report
  • Recovery outcome Entries: per plan; per unstated · Stated on: 2014-07-03 · Table missing:
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Motion Record of the DefendantPDF · Subscribers
Affidavit of Mathieu Lafleur-AyottePDF · Subscribers
Exhibit KPDF · Subscribers
List of ExhibitsPDF · Subscribers
Notice of Application
  • Commencement date 27 June 2014
  • Court SUPERIOR COURT OF JUSTICE
  • Court file no CV-14-10609-00CL
PDF · Subscribers
Exhibit LPDF · Subscribers
Exhibit HPDF · Subscribers
Exhibit IPDF · Subscribers
Exhibit FPDF · Subscribers
Exhibit GPDF · Subscribers
Exhibit JPDF · Subscribers
Exhibit APDF · Subscribers
Exhibit EPDF · Subscribers
Exhibit BPDF · Subscribers
Exhibit CPDF · Subscribers
Exhibit DPDF · Subscribers
Schedule APDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Devonshire Trust (Metcalfe & Mansfield Alternative Investment VII Corp.)” (CCAA), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/devonshire-trust-metcalfe-mansfield-alternative-investment-vii-corp

Recently updated

Giftcraft Holdings, Inc., Ripskirt Hawaii, LLC et al.

Ontario · Receivership (court-appointed)

3 Nov 2026

Transport Bruno Harvey inc.

Quebec · Bankruptcy

3 Nov 2026

Sunshine Oilsands Ltd

Alberta · Receivership (court-appointed)

3 Nov 2026

RSG Law Professional Corporation

Ontario · Receivership (court-appointed)

3 Nov 2026

Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/devonshire-trust-metcalfe-mansfield-alternative-investment-vii-corp

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.