#Filing
Motion for the Issuance of an Approval and Vesting Order (Original French Version) — Application / notice of application
Felix & Paul Studios Inc.
ActiveFollow
- Proceeding
- Bankruptcyarticles 18, 19 et 34 de la Loi sur la faillite et l'insolvabilité (LFI)
- File
- 500-11-067751-269
OverviewSummary updated
Felix & Paul Studios Inc. became bankrupt on 10 September 2026 at 13:11 under article 49 de la Loi sur la faillite et l'insolvabilité, with Deloitte Restructuring Inc. acting as syndic de l'actif du débiteur under Quebec court file 500-11-067751-269. On the trustee's figures, drawn from the debtor's accounting records at net book value and not audited, assets stood at US$22,055,000 against liabilities of US$34,459,000 as at 31 July 2026, split between US$12,268,000 unsecured and US$22,191,000 secured. Six creditors — Investissement Québec, Export Development Canada, BDC Capital, Banque Nationale du Canada, Développement économique du Canada and SODEC — each claim first-ranking security, subject to a pending legal opinion on validity and opposability. Banque Nationale's position reflects $0.9M repaid in August 2026 from a federal tax credit collection. The estate remains active.
Proceedings AIOpen Proceedings AI
Case updates10 dated entries
#Report
Second report recorded 99 acquirers canvassed, 12 meetings and four offers received, and put the related-party 18253145 Canada inc.'s 9 October repurchase proposal to the court under s. 30(5)-(6) BIA.
Source: Second report of the Trustee to the Court (Original French Version
#Report
Report of the Trustee on Its Preliminary Administration (Original French Version) — Court officer report
#Sale
Registrar Vincent-Michel Aubé approved the sale to 18 201714 Canada Inc., on the binding offer selected 11 September 2026, of certain space-sector assets for $350,000 cash; the offer was sealed.
Source: Approval and Vesting Order (Original French Version)
#Filing
Trustee’s Motion for Authorization to Sell Assets Before the First Meeting of Creditors (Original French Version) — Application / notice of application
#Order
Deloitte Restructuring Inc. took office as syndic de l'actif on the bankruptcy at 13:11; the bankrupt's statement of affairs declared CAD$4,614,985 in assets against CAD$32,599,074.05 in liabilities.
Source: Certificate of appointment (Original French Version)
AnalysisAll insights
Case update
Felix & Paul: one offer for the name, from a related buyer
In a motion returnable October 29, Deloitte, trustee of the bankrupt Montreal virtual-reality studio, asks the court to approve selling its brand, felixandpaul.com and eight immersive works for $70,000 to a company whose directors and shareholders were also directors of the studio and which was the only bidder for those assets in a second sale process.
Filing brief
Felix & Paul: the moon cameras, sold before the first meeting
The Montreal virtual-reality studio assigned itself into bankruptcy on September 10 with about US$34.5 million in book liabilities, after a sale process had drawn no binding offer. A week later a registrar let Deloitte sell its lunar camera technology and the Space Explorers franchise to a company formed by former officers and employees, ahead of the first meeting of creditors — a sale the trustee said could not wait, with two of its cameras due on Moon launches in November and December.
Parties
Debtor
Felix & Paul Studios Inc.
Trustee in bankruptcy
Deloitte
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Banque Nationale du Canada · in 112 casesListed as secured on List of Creditors — debtor: Felix & Paul Studios Inc. · as of 10 Sep 2026 | $3.33M | Notice of Bankruptcy and First Meeting of Creditors |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
38 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansSale processAs stated in the filings
2 transactions · 1 closed · 1 proposed — Second solicitation process ended; the sole offer for the Actifs Vises came from the related-party Acquereur, whose Proposition de rachat is submitted for court approval under s. 30(5)-(6) BIA.Second report of the Trustee to the Court (Original French Version · 23 Oct 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 18201714 Canada inc.les Actifs achetés · asset sale · agreement 14 Sep 2026 | Subscribers | Closed17 Sep 2026 | Report of the Trustee on Its Preliminary… |
| 18253145 Canada inc.Actifs Vises (various assets of the Debtor, excluding Lot C) under the Proposition de rachat · asset sale · agreement 9 Oct 2026 | Subscribers | Proposed | Second report of the Trustee to the Court… |
Closing termsLe certificat du syndic est délivré lorsque l'offre est signée et remise, le prix d'achat est payé et toutes les conditions de clôture sont satisfaites ou ont fait l'objet d'une renonciation.Approval and Vesting Order (Original French Version)
Sealed materialsl'Offre (pièce R-1)Approval and Vesting Order (Original French Version)
Estate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing
As at ·
Cash on hand
$1.71M USD
As at 31 Jul 2026Second report of the Trustee to the Court (Original French Version
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plansDocuments
10 filings
| Date | Document | File |
|---|---|---|
Motion for the Issuance of an Approval and Vesting Order (Original French Version)
| PDF · Subscribers | |
Second report of the Trustee to the Court (Original French Version
| PDF · Subscribers | |
Minutes of the First Meeting of Creditors (Original French Version)
| PDF · Subscribers | |
Report of the Trustee on Its Preliminary Administration (Original French Version)
| PDF · Subscribers | |
Registration Form to the Creditors Meeting
| PDF · Subscribers | |
Approval and Vesting Order (Original French Version)
| PDF · Subscribers | |
Notice of Bankruptcy and First Meeting of Creditors
| PDF · Subscribers | |
First Report of the Trustee to the Court (Original French Version)
| PDF · Subscribers | |
Trustee’s Motion for Authorization to Sell Assets Before the First Meeting of Creditors (Original French Version)
| PDF · Subscribers | |
Certificate of appointment (Original French Version)
| 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., “Felix & Paul Studios Inc.” (Bankruptcy), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/felix-and-paul-studios-inc