Hydrx Farms Ltd.
FollowActive
- Proceeding
- CCAAsection 11 of the CCAA
- File
- CV-21-00659187-00CL
OverviewSummary updated
Hydrx Farms Ltd. is proceeding under the CCAA, with Cobra Ventures Inc. holding a debenture as first secured creditor of the company, with indebtedness of $14,857,014.00 as of March 31, 2021. On July 12, 2021, the court ruled that Cobra could credit bid the full amount owing under the debenture in the SISP process. The Serafino Group has since served a Notice of Motion for Leave to Appeal from that decision.
Proceedings AIAsk this case — answers cite the filings
Case updates44 dated entries · 2 undated
#Filing
Motion Record of the Monitor (Sale Approval) Returnable — Application / notice of application
41 earlier updates, back to 22 March 2021 — subscribers.
Undated filings2 — no date appears on the document · show
2 filings carry no date on their face — subscribers.
Parties
Debtor
Hydrx Farms Ltd.
Monitor
Schwartz Levitsky Feldman Inc.
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hainey | Ontario Superior Court of Justice | 3 orders, Mar 2021 – Apr 2021 | 196 cases on record |
| Justice Koehnen | Ontario Superior Court of Justice | 2 orders, Jul 2021 | 73 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| MonitorSchwartz Levitsky Feldman Inc. | Rothstein LLP | 5 May 2021 | Service list · 5 May 2021 |
| ApplicantHydrx Farms Ltd. | Minden Gross LLP | 26 Jul 2021 | Order · 26 Jul 2021 |
| CreditorC-Tech Innovation Ltd | Scarfone Hawkins LLP | 5 May 2021 | Service list · 5 May 2021 |
| CreditorCobra Ventures Inc | Dickinson Wright LLP · Cassels Brock & Blackwell LLP | 5 May 2021 | Factum · 23 Jun 2021 |
| Creditorin Appeal | Minden Gross LLP | 14 Jul 2021 | Application · 14 Jul 2021 |
| CreditorPeter B | Samfiru Tumarkin LLP | 5 May 2021 | Service list · 5 May 2021 |
| CreditorService-List — p.1 | Dla Piper LLP · Minden Gross LLP · Torys LLP | — | Service list |
| CreditorZidane Capital | Nathanson Schachter & Thompson LLP | 5 May 2021 | Service list · 5 May 2021 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Cobra Ventures Inc.Debenture — First secured creditor of HydRx; Court determined Cobra could credit bid the full amount of indebtedness owing under the debenture in the SISP process (Cobra Claims Decision, July 12, 2021); Serafino Group has served a Notice of Motion for Leave to Appeal from this decision. — debtor: HydRx Farms Ltd. · as of 31 Mar 2021 | $14.9M | THIRD REPORT OF THE MONITOR |
Sale processAs stated in the filings
Successful bid selected — no reason to proceed with Phase 2 of the SISP; Monitor proceeding with Credit Bid Transaction documentationFourth Report of the Monitor · 22 Oct 2021
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Cobra Ventures Inc.all of the right, title and interest in and to the New Shares · share sale · ResidualCo: 13404994 Canada Inc. · agreement 4 Nov 2021 | Subscribers | Approved23 Nov 2021 | Order-Approval-and-Vesting-Order |
AdvisorsSchwartz Levitsky Feldman Inc. (sale agent); Macpherson & Associates Inc. (financial advisor)Fourth Report of the Monitor
Closing termsTransaction closes upon delivery of Monitor's Certificate; SPA transactions won't close until 10 business days after the later of the order date and dismissal/abandonment of an appealOrder-Approval-and-Vesting-Order
Sealed materialsConfidential Appendix 1 to the Fifth ReportOrder-Approval-and-Vesting-Order
Documents
46 filings
| Date | Document | File |
|---|---|---|
| Consent for the Respondent-dated | PDF · Subscribers | |
Notice of Abandonment of Leave to Appeal
| PDF · Subscribers | |
| Motion Record of the Monitor (Sale Approval) Returnable | PDF · Subscribers | |
Order-Approval-and-Vesting-Order
| PDF · Subscribers | |
Book of Authorities - Re Sale Approval and RVO
| PDF · Subscribers | |
Factum of the Monitor
| PDF · Subscribers | |
Factum re Sale Approval and RVO
| PDF · Subscribers | |
Endorsement of Justice Mc Ewen
| PDF · Subscribers | |
Extension of Stay Period
| PDF · Subscribers | |
| Motion Record of the Applicant (Returnable October 26, 2021) | PDF · Subscribers | |
Fourth Report of the Monitor
| PDF · Subscribers | |
| Book of Authorities (July 26, 2021) | PDF · Subscribers | |
Extension of Stay Period Order
| PDF · Subscribers | |
| Factum of the Applicant (returnable July 26, 2021) | PDF · Subscribers | |
| Motion Record of the Applicant (returnable July 26, 2021) | PDF · Subscribers | |
Order Expanding Monitor's Powers
| PDF · Subscribers | |
Factum of the Moving Party - Cobra Ventures Inc. - Expanding Monitor's Powers
| PDF · Subscribers | |
| Responding Motion Record (Cobra) | PDF · Subscribers | |
THIRD REPORT OF THE MONITOR
| PDF · Subscribers | |
Notice of Motion for Leave to Appeal
| PDF · Subscribers | |
| Responding Motion Record of the Applicant (returnable June 30, 2021) | PDF · Subscribers | |
Serafino Endorsement - July 12-21
| PDF · Subscribers | |
| Brief of Authorities of the Applicant | PDF · Subscribers | |
| Responding Factum of the Applicant Domenico Serafino | PDF · Subscribers | |
| Book of Authorities | PDF · Subscribers | |
Factum of the Moving Party Cobra Ventures Inc.
| PDF · Subscribers | |
| Reply Motion Record | PDF · Subscribers | |
| Letter to the Service List | PDF · Subscribers | |
Service List as of
| PDF · Subscribers | |
CRO Appointment and SISP Approval
| PDF · Subscribers | |
Extension of Stay Period and Replacing the Responsible Person
| PDF · Subscribers | |
| Factum of the Applicant (Returnable April 30, 2021) (1) | PDF · Subscribers | |
| Motion Record of the Applicant (Returnable April 30, 2021) | PDF · Subscribers | |
| Motion Record Monitor Schwartz Levitsky Feldman | PDF · Subscribers | |
| Motion Record of Cobra Ventures Inc. | PDF · Subscribers | |
| Amended and Restated Initial Order | PDF · Subscribers | |
| Supplementary Responding Motion Record - Cobra Ventures Inc. | PDF · Subscribers | |
| Motion Record of the Applicant | PDF · Subscribers | |
| Responding Motion Record - Cobra Ventures Inc. | PDF · Subscribers | |
| Endorsement of Justice Hainey | PDF · Subscribers | |
| First Report of the Proposed Monitor (1) | PDF · Subscribers | |
HydRx Farms Ltd. Teaser Letter
| PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
Application Record
| PDF · Subscribers | |
| First Report of the Monitor (2) | PDF · Subscribers | |
Service-List
| 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., “Hydrx Farms Ltd.” (CCAA), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/hydrx-farms-ltd