#Report
Template letter to Digital Asset Fund Corp. 3rd Party Investors dated — Stakeholder communication
Exponential Group
ActiveFollow
- Proceeding
- Receivership (court-appointed)section 101 of the Courts of Justice Act
- File
- CV-20-00649768-00CL
- Industry
- Financial services · Investment funds & schemes
Filings held8
Last activity8 Aug 2024
On the record2,193 days
OverviewSummary updated
Exponential Group has been under the receivership of MNP Ltd. since November 4, 2020, when the Ontario Superior Court of Justice appointed the firm as receiver under section 101 of the Courts of Justice Act on the application of 2444467 Ontario Inc. and James Tonn (Court File No. CV-20-00649768-00CL). The receivership covers ExV Inc., Exponential Digital Trading Inc., Exponential Capital & Markets Inc., Exponential Advisors Inc., Digital Asset Fund Corp., tribe inc., Digital Venture Fund GP Inc. and Digital Venture Fund LP on a combined basis. Working from limited financial records, the receiver estimated assets available to it at $1,450,000, excluding the group's investment in Digital Venture Fund LP and other entities, valued as unknown. No creditor holds security. The largest quantified unsecured claim is $3,070,097.64 owed to applicant 2444467 Ontario Inc.; claims by the Canada Revenue Agency and employees remain unquantified.
Proceedings AIOpen Proceedings AI
Case updates8 dated entries
#Report
The officer filed report no. Second Report. The Receiver continues to oversee the wind-down of the Exponential Group, having been unable to secure Shareholder consensus on a sale, and is now proposing a court-approved liquidation of the Master Fund's portfolio company interests and/or the DAFC structure, alongside a proposed distribution to third-party investors.
Source: Second Report of the Receiver
#Report
The officer filed report no. First Report. The Entities' operations were suspended following a dispute between principals and HSBC restricting accounts; most employees and contractors were laid off in July 2020, and the Receiver terminated all remaining Staff upon its appointment, leaving the Entities with no active operations, focused on managing an investment fund portfolio. Court file CV-20-00649768-00CL.
Source: First Report of MNP Ltd Receiver
#Order
Court appointed MNP Ltd. receiver over the Exponential Group entities under section 101 of the Courts of Justice Act, on the application of 2444467 Ontario Inc. and James Tonn.
Parties
Debtor
Exponential Group
Receiver
MNP
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Apr 2024 – Jul 2024 | 245 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Chaitons LLP | 4 Jul 2024 | Order · 4 Jul 2024 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | 2444467 Ontario Inc.debtor: Exponential Group | $3.07M | Notice and Statement of Receiver |
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured | |||
| Unsecured |
9 more claims in 1 class The stack holds Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale processAs stated in the filings
Sale process approved — the Liquidation Process is hereby approved, and the Receiver is hereby authorized to conduct the Liquidation ProcessLiquidation Order dated · 4 Jul 2024
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 3iQall of the Master Fund's 3iQ common shares · share sale | Subscribers | Closed24 Apr 2024 | Second Report of the Receiver |
Estate financialsReported figures — never derived
Total assets at filing
As at ·
Cash on hand
$4.97M
As at 24 Apr 2024Second Report of the Receiver
Professional fees
As at
1 more reported figure, and the total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plansDocuments8 filings
| Date | Document | File |
|---|---|---|
| Template letter to Digital Asset Fund Corp. 3rd Party Investors dated | PDF · Subscribers | |
Liquidation Order dated
| PDF · Subscribers | |
Second Report of the Receiver
| PDF · Subscribers | |
Endorsement dated
| PDF · Subscribers | |
| Update Letter to Digital Asset Fund Investors | PDF · Subscribers | |
First Report of MNP Ltd Receiver
| PDF · Subscribers | |
Notice and Statement of Receiver
| PDF · Subscribers | |
Exponential Group Receiver s Appointment Order
| 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., “Exponential Group” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/exponential-group