Proceedings.

Fusion Cine Sales & Rentals Inc. et al.

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Closed
Proceeding
Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act
Court
Court of King's Bench of Alberta
File
2301-13913
Filings held21
Last activity6 Dec 2024
On the record1,063 days
OverviewSummary updated

Fusion Cine Sales & Rentals Inc. has been in court-appointed receivership since October 24, 2023, when the Court of King's Bench of Alberta granted a receivership order under BIA s. 243 and provincial Judicature Act jurisdiction, in proceedings carried alongside Genesis Integration Inc. under files 2301-13912 and 2301-13913. Sequent AI Ltd. is described as the principal secured creditor of the two companies. A Canada Revenue Agency deemed trust claim of approximately $175,000 against Genesis surfaced immediately before the August 15, 2024 discharge hearing; the bankruptcy order granted against Genesis on October 24, 2024, on Sequent's application and unopposed by CRA's counsel, had the effect of reversing that claim's priority. Interim receipts and disbursements to November 15, 2024 record $101,713 paid on the deemed trust claim, $105,223 in funding from Sequent and $124,459 repaid to it. The proceeding is closed.

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Case updates21 dated entries
Parties

Debtor

Fusion Cine Sales & Rentals Inc.

Debtor

Genesis Integration Inc.

Receiver

AlixPartners

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice JohnstonCourt of King's Bench of Alberta3 orders, Nov 2023 – Oct 202432 cases on record

Counsel of record

PartyCounselFirst seenSource
ReceiverAlixPartnersMcMillan LLP23 Oct 2023Application · 23 Oct 2023
ApplicantSequent AI Ltd., asBlake, Cassels & Graydon LLP15 Oct 2024Order · 15 Oct 2024
CreditorSequent AI LtdBlake, Cassels & Graydon LLP23 Oct 2023Factum · 23 Oct 2023
Capital structureAs asserted in the filings
#Priority classCreditorAmountSource
3Deemed trusts (CRA and other)Canada Revenue Agency · in 926 casesas of brought to the Receiver's attention immediately prior to the August 15, 2024 Discharge Hearing — Deemed trust claim (the 'Deemed Trust Claim') filed by CRA against Genesis — Deemed-trust class; amount stated as approximately $175,000. The Bankruptcy Order against Genesis granted October 24, 2024 has the effect of reversing the priority of the Deemed Trust Claim (p. 4); CRA's counsel attended that hearing and did not oppose. The interim statement of receipts and disbursements for the period ending November 15, 2024 shows $101,713 disbursed on account of the 'CRA Deemed Trust Claim' (p. 10$175KSupplement to Second Report of the Receiver dated November 19, 2024
4SecuredSequent AI Ltd.Identified as the Companies' principal secured creditor; no amount of the secured indebtedness and no description of the security are stated in this Supplemental Report. Under the proposed Discharge Order the Receiver intends to distribute approximately $110,000 to Sequent from approximately $131,000 held in the Receiver's account (p. 4). Sequent also applied for and obtained the Bankruptcy Order against Genesis on October 24, 2024. — debtor: Genesis Integration Inc. and Fusion Cine Sales and Rentals Inc. (the Companies)—Supplement to Second Report of the Receiver dated November 19, 2024

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

This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.

RecoveriesAs stated in the filings

Sequent AI Ltd.: shortfall.EstimatedApplication re Motion · 15 Aug 2024

ClassCreditorClaimsRecoveryBasisSource
SecuredSequent AI Ltd.—shortfallEstimatedper the receiverApplication re Motion · 15 Aug 2024

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.

Fees and ratesAs stated in the filings

2 engagements · 2 firms — latest: KSV Restructuring Inc., —, $219,468.87 in feesSupplement to Second Report of the Receiver · 19 Nov 2024

FirmPeriodHoursFeesRatesSource
KSV Restructuring Inc.Receiver——$219,468.87ex. taxnot statedSupplement to Second Report of the Receiver · 19 Nov 2024
McMillan LLPCounsel to the receiver——$52,258.50ex. taxnot statedSupplement to Second Report of the Receiver · 19 Nov 2024
Documents
21 filings
DateDocumentFile
Order for Final Distribution filed on Dec 6, 2024
  • Presiding officer Justice Harris
PDF
Amended Application re Approval of Fees Distribution and Discharge of the Receiver dated November 25, 2024
  • Commencement date 26 November 2024
  • Court COURT OF KING'S BENCH OF ALBERTA
  • Court file no 2301-13913
  • Recovery outcome Entries: per estimated · Stated on: 2024-08-06 · Table missing:
PDF
Supplement to Second Report of the Receiver dated November 19, 2024
  • Court COURT OF KING’S BENCH OF ALBERTA
  • Court file no 2301 - 13912
  • Fee schedule Engagements: Form: invoice_listing · Rows: · Money: Tax: $29K · Label: Taxes · Quote: 29,030.54 · Fees: $219K · Quote: 219,468.87 · Total: $252K · Quote: 252,341.44 · includes tax · includes disbursements · Approximate: false · Disbursements: $3.84K · Quote: 3,842.03 · Period: Kind: cumulative · Quote: Summary of Professional Fees · Approval: State: unstated · Averages: · Currency: · Invoices: Tax: 12023.08 · Date: 2023-12-12 · Fees: 90811 · Quote: December 12, 2023 | November, 2023 | 90,811.00 | 1,674.25 | 12,023.08 | 104,508.33 · Total: 104508.33 · Period end: 2023-11-30 · Disbursements: 1674.25; Tax: 2094.4 · Date: 2024-01-16 · Fees: 16109.5 · Quote: January 16, 2024 | December 31, 2023 | 16,109.50 | 1.30 | 2,094.40 | 18,205.20 · Total: 18205.2 · Period end: 2023-12-31 · Disbursements: 1.3; Tax: 1483.85 · Date: 2024-02-08 · Fees: 9474.5 · Quote: February 8, 2024 | January 31, 2024 | 9,474.50 | 1,939.75 | 1,483.85 | 12,898.10 · Total: 12898.1 · Period end: 2024-01-31 · Disbursements: 1939.75; Tax: 1458.44 · Date: 2024-03-07 · Fees: 11218.75 · Quote: March 7, 2024 | February 28, 2024 | 11,218.75 | - | 1,458.44 | 12,677.19 · Total: 12677.19 · Period end: 2024-02-28; Tax: 2546.11 · Date: 2024-04-05 · Fees: 19437.5 · Quote: April 5, 2024 | March 31, 2024 | 19,437.50 | 147.97 | 2,546.11 | 22,131.58 · Total: 22131.58 · Period end: 2024-03-31 · Disbursements: 147.97; Tax: 1643.14 · Date: 2024-05-10 · Fees: 12639.5 · Quote: May 10, 2024 | April 30, 2024 | 12,639.50 | - | 1,643.14 | 14,282.64 · Total: 14282.64 · Period end: 2024-04-30; Tax: 1634.98 · Date: 2024-06-06 · Fees: 12576.75 · Quote: June 6, 2024 | May 31, 2024 | 12,576.75 | - | 1,634.98 | 14,211.73 · Total: 14211.73 · Period end: 2024-05-31; Tax: 1454.41 · Date: 2024-07-08 · Fees: 11186.87 · Quote: July 8, 2024 | June 30, 2024 | 11,186.87 | - | 1,454.41 | 12,641.28 · Total: 12641.28 · Period end: 2024-06-30; Tax: 2781.58 · Date: 2024-08-08 · Fees: 21396.75 · Quote: August 8, 2024 | July 31, 2024 | 21,396.75 | - | 2,781.58 | 24,178.33 · Total: 24178.33 · Period end: 2024-07-31; Tax: 1910.55 · Date: 2024-11-14 · Fees: 14617.75 · Quote: November 14, 2024 | October 31, 2024 | 14,617.75 | 78.76 | 1,910.55 | 16,607.06 · Total: 16607.06 · Period end: 2024-10-31 · Disbursements: 78.76 · Firm text: KSV Restructuring Inc. · Firm quote: KSV RESTRUCTURING INC., IN ITS CAPACITY AS COURT APPOINTED RECEIVER AND MANAGER OF GENESIS INTEGRATION INC. AND FUSION CINE SALES & RENTALS INC. AND NOT IN ITS PERSONAL CAPACITY · Context quote: KSV RESTRUCTURING INC., IN ITS CAPACITY AS COURT APPOINTED RECEIVER AND MANAGER OF GENESIS INTEGRATION INC. AND FUSION CINE SALES & RENTALS INC. AND NOT IN ITS PERSONAL CAPACITY; Form: invoice_listing · Rows: · Money: Tax: $2.66K · Label: Taxes · Quote: 2,662.89 · Fees: $52.3K · Quote: 52,258.50 · Total: $56.3K · Quote: 56,269.69 · includes tax · includes disbursements · Approximate: false · Disbursements: $1.35K · Quote: 1,348.30 · Period: Kind: cumulative · Quote: Summary of Professional Fees · Approval: State: unstated · Averages: · Currency: · Invoices: Tax: 141.38 · Date: 2023-11-22 · Fees: 2827.5 · Quote: November 22, 2023 | October 31, 2023 | 2,827.50 | - | 141.38 | 2,968.88 · Total: 2968.88 · Period end: 2023-10-31; Tax: 669.73 · Date: 2023-12-13 · Fees: 13333.5 · Quote: December 13, 2023 | November 30, 2023 | 13,333.50 | 61.19 | 669.73 | 14,064.42 · Total: 14064.42 · Period end: 2023-11-30 · Disbursements: 61.19; Tax: 15.54 · Date: 2023-12-31 · Fees: 217.5 · Quote: December 31, 2023 | December 31, 2023 | 217.50 | 183.34 | 15.54 | 416.38 · Total: 416.38 · Period end: 2023-12-31 · Disbursements: 183.34; Tax: 323.9 · Date: 2024-04-10 · Fees: 6466 · Quote: April 10, 2024 | March 31, 2024 | 6,466.00 | 54.00 | 323.90 | 6,843.90 · Total: 6843.9 · Period end: 2024-03-31 · Disbursements: 54; Tax: 316.76 · Date: 2024-05-09 · Fees: 5668.5 · Quote: May 9, 2024 | April 30, 2024 | 5,668.50 | 765.00 | 316.76 | 6,750.26 · Total: 6750.26 · Period end: 2024-04-30 · Disbursements: 765; Tax: 63.8 · Date: 2024-06-12 · Fees: 1276 · Quote: June 12, 2024 | May 31, 2024 | 1,276.00 | - | 63.80 | 1,339.80 · Total: 1339.8 · Period end: 2024-05-31; Tax: 93.32 · Date: 2024-07-11 · Fees: 1809 · Quote: July 11, 2024 | June 30, 2024 | 1,809.00 | 86.00 | 93.32 | 1,988.32 · Total: 1988.32 · Period end: 2024-06-30 · Disbursements: 86; Tax: 254.53 · Date: 2024-08-15 · Fees: 5090.5 · Quote: August 15, 2024 | July 31, 2024 | 5,090.50 | - | 254.53 | 5,345.03 · Total: 5345.03 · Period end: 2024-07-31; Tax: 487.24 · Date: 2024-09-09 · Fees: 9680.5 · Quote: September 9, 2024 | August 31, 2024 | 9,680.50 | 64.39 | 487.24 | 10,232.13 · Total: 10232.13 · Period end: 2024-08-31 · Disbursements: 64.39; Tax: 21.59 · Date: 2024-10-10 · Fees: 387.5 · Quote: October 10, 2024 | September 30, 2024 | 387.50 | 134.38 | 21.59 | 543.47 · Total: 543.47 · Period end: 2024-09-30 · Disbursements: 134.38; Tax: 275.1 · Date: 2024-11-11 · Fees: 5502 · Quote: November 11, 2024 | October 31, 2024 | 5,502.00 | - | 275.10 | 5,777.10 · Total: 5777.1 · Period end: 2024-10-31 · Firm text: McMillan LLP · Firm quote: RECEIVER'S COUNSEL McMillan LLP · Context quote: RECEIVER'S COUNSEL McMillan LLP
  • Secured creditors $175K · Note: Deemed trust class (quasi-governmental); amount stated as approximately $175,000. The Bankruptcy Order against Genesis granted October 24, 2024 has, inter alia, the effect of reversing the priority of the Deemed Trust Claim; CRA's counsel attended the October 24, 2024 hearing and did not oppose (p. 4). The interim R&D for the period ending November 15, 2024 shows a disbursement of $101,713 for "CRA Deemed Trust Claim" (p. 10). · Page: 3 · As of: deemed trust claim filed against Genesis, brought to the Receiver's attention immediately prior to the August 15, 2024 Discharge Hearing · Debtor: Genesis Integration Inc. · Creditor: Canada Revenue Agency · Security: Deemed trust claim (the Deemed Trust Claim)
PDF
Notice of Bankruptcy and First Meeting of Creditors dated October 30, 2024PDF
Bankruptcy Order dated October 24, 2024
  • Presiding officer Justice Johnston
PDF
Application for a Bankruptcy Order dated October 15, 2024
  • Presiding officer Justice Johnston
PDF
Bench Brief of Applicant in Support of Application for Bankruptcy Order dated October 15, 2024
  • Counsel Wu BLAKE, CASSELS & GRAYDON LLP
PDF
Affidavit of Kyle Lanzinger sworn October 11, 2024PDF
Supplemental Affidavit of Kyle Lanzinger sworn October 11, 2024PDF
Application re Motion returnable August 15, 2024
  • Commencement date 24 October 2023
  • Court COURT OF KING'S BENCH OF ALBERTA
  • Court file no 2301-13913
  • Recovery outcome Entries: per estimated · Table missing:
PDF
Second Report of the Receiver dated August 6, 2024
  • Fee schedule Engagements: Form: invoice_listing · Rows: · Money: Tax: $24.3K · Label: Taxes · Quote: 24,338.41 · Fees: $183K · Quote: 183,454.37 · Total: $212K · Quote: 211,556.05 · includes tax · includes disbursements · Approximate: false · Disbursements: $3.76K · Quote: 3,763.27 · Period: Kind: cumulative · Approval: State: unstated · Averages: · Currency: · Invoices: Tax: 12023.08 · Date: 2023-12-12 · Fees: 90811 · Quote: December 12, 2023 | November, 2023 | 90,811.00 | 1,674.25 | 12,023.08 | 104,508.33 · Total: 104508.33 · Period end: 2023-11-30 · Disbursements: 1674.25; Tax: 2094.4 · Date: 2024-01-16 · Fees: 16109.5 · Quote: January 16, 2024 | December 31, 2023 | 16,109.50 | 1.30 | 2,094.40 | 18,205.20 · Total: 18205.2 · Period end: 2023-12-31 · Disbursements: 1.3; Tax: 1483.85 · Date: 2024-02-08 · Fees: 9474.5 · Quote: February 8, 2024 | January 31, 2024 | 9,474.50 | 1,939.75 | 1,483.85 | 12,898.10 · Total: 12898.1 · Period end: 2024-01-31 · Disbursements: 1939.75; Tax: 1458.44 · Date: 2024-03-07 · Fees: 11218.75 · Quote: March 7, 2024 | February 28, 2024 | 11,218.75 | - | 1,458.44 | 12,677.19 · Total: 12677.19 · Period end: 2024-02-28; Tax: 2546.11 · Date: 2024-04-05 · Fees: 19437.5 · Quote: April 5, 2024 | March 31, 2024 | 19,437.50 | 147.97 | 2,546.11 | 22,131.58 · Total: 22131.58 · Period end: 2024-03-31 · Disbursements: 147.97; Tax: 1643.14 · Date: 2024-05-10 · Fees: 12639.5 · Quote: May 10, 2024 | April 30, 2024 | 12,639.50 | - | 1,643.14 | 14,282.64 · Total: 14282.64 · Period end: 2024-04-30; Tax: 1634.98 · Date: 2024-06-06 · Fees: 12576.75 · Quote: June 6, 2024 | May 31, 2024 | 12,576.75 | - | 1,634.98 | 14,211.73 · Total: 14211.73 · Period end: 2024-05-31; Tax: 1454.41 · Date: 2024-07-08 · Fees: 11186.87 · Quote: July 8, 2024 | June 30, 2024 | 11,186.87 | - | 1,454.41 | 12,641.28 · Total: 12641.28 · Period end: 2024-06-30 · Firm text: KSV Restructuring Inc. · Firm quote: KSV Restructuring Inc. · Context quote: This report ('Report') is filed by KSV Restructuring Inc. ('KSV') in its capacity as receiver and manager (the 'Receiver'); Form: invoice_listing · Rows: · Money: Tax: $1.62K · Label: Taxes · Quote: 1,624.43 · Fees: $31.6K · Quote: 31,598.00 · Total: $34.4K · Quote: 34,371.96 · includes tax · includes disbursements · Approximate: false · Disbursements: $1.15K · Quote: 1,149.53 · Period: Kind: cumulative · Approval: State: unstated · Averages: · Currency: · Invoices: Tax: 141.38 · Date: 2023-11-22 · Fees: 2827.5 · Quote: November 22, 2023 | October 31, 2023 | 2,827.50 | - | 141.38 | 2,968.88 · Total: 2968.88 · Period end: 2023-10-31; Tax: 669.73 · Date: 2023-12-13 · Fees: 13333.5 · Quote: December 13, 2023 | November 30, 2023 | 13,333.50 | 61.19 | 669.73 | 14,064.42 · Total: 14064.42 · Period end: 2023-11-30 · Disbursements: 61.19; Tax: 15.54 · Date: 2023-12-31 · Fees: 217.5 · Quote: December 31, 2023 | December 31, 2023 | 217.50 | 183.34 | 15.54 | 416.38 · Total: 416.38 · Period end: 2023-12-31 · Disbursements: 183.34; Tax: 323.9 · Date: 2024-04-10 · Fees: 6466 · Quote: April 10, 2024 | March 31, 2024 | 6,466.00 | 54.00 | 323.90 | 6,843.90 · Total: 6843.9 · Period end: 2024-03-31 · Disbursements: 54; Tax: 316.76 · Date: 2024-05-09 · Fees: 5668.5 · Quote: May 9, 2024 | April 30, 2024 | 5,668.50 | 765.00 | 316.76 | 6,750.26 · Total: 6750.26 · Period end: 2024-04-30 · Disbursements: 765; Tax: 63.8 · Date: 2024-06-12 · Fees: 1276 · Quote: June 12, 2024 | May 31, 2024 | 1,276.00 | - | 63.80 | 1,339.80 · Total: 1339.8 · Period end: 2024-05-31; Tax: 93.32 · Date: 2024-07-11 · Fees: 1809 · Quote: July 11, 2024 | June 30, 2024 | 1,809.00 | 86.00 | 93.32 | 1,988.32 · Total: 1988.32 · Period end: 2024-06-30 · Disbursements: 86 · Firm text: McMillan LLP · Firm quote: McMillan LLP · Context quote: RECEIVER'S COUNSEL McMillan LLP
  • Recovery outcome Entries: per estimated · Table missing:
PDF
Endorsement of Justice J. Dietrich dated January 23, 2024
  • Presiding officer Justice J. Dietrich
PDF
Court Order re Approval of Activities and Liquidation Agreement dated November 24, 2023
  • Presiding officer Justice B. Johnston
PDF
Application re Approval of Activities and Liquidation Agreement dated November 14, 2023
  • Recovery outcome Entries: per estimated · Table missing:
PDF
First Report of the Receiver dated November 14, 2023
  • Recovery outcome Entries: per estimated · Table missing:
PDF
Receivership Order dated October 24, 2023
  • Applicant SEQUENT AI LTD.
  • Appointee KSV Restructuring Inc.
  • Appointee role receiver and manager
  • Commencement date 24 October 2023
  • + 3 more extracted facts
PDF
Secretarial Affidavit of Olivia Valks sworn October 24, 2023PDF
Brief of Law of the Applicant dated October 23, 2023
  • Counsel Blake, Cassels & Graydon LLP
PDF
Originating Application dated October 23, 2023
  • Counsel McMILLAN LLP
PDF
Affidavit of Kyle Lanzinger sworn October 18, 2023PDF
Pre-Filing Report of the Proposed Receiver dated October 18, 2023PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Fusion Cine Sales & Rentals Inc. et al.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/fusion-cine-sales-rentals-inc

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Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/fusion-cine-sales-rentals-inc

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.