#Report
Template letter to Digital Asset Fund Corp. 3rd Party Investors dated — Stakeholder communication
Exponential Group
FollowActive
- Proceeding
- Receivership (court-appointed)section 101 of the Courts of Justice Act
- File
- CV-20-00649768-00CL
Filings held8
Last activity8 Aug 2024
On the record2,147 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 AIAsk this case — answers cite the filings
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
5 earlier updates, back to 4 November 2020 — subscribers.
Parties
Debtor
Exponential Group
Receiver
MNP
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 |
9 more claims across lower-ranking classesSubscribe to view
Sale 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
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Cash on hand
$4.97M
As at 5 Jun 2024Second Report of the Receiver
1 more reported figure, as at 5 Jun 2024Subscribe to view
Documents8 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 20 September 2026, https://proceedings.ca/case/exponential-group