Index Energy Mills Road Corporation
FollowClosed
- Proceeding
- CCAACCAA
Filings held36
Last activity12 Mar 2018
On the record3,323 days
Secured debt$102M
Proceedings AIAsk this case — answers cite the filings
Case updates35 dated entries · 1 undated
#Filing
Motion Record re Discharge and Termination of CCAA Proceedings dated March 7, 2018.pdf — Application / notice of application
#Order
Unofficial Transcription of Endorsement of RSJ Morawetz - December 11, 2017.pdf — Endorsement / reasons
Undated filings1 — no date appears on the document · show
—
Claims
Creditors List — Claims process approved
Parties
Debtor
Index Energy Mills Road Corporation
Monitor
Doane Grant Thornton
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Index Residence AB (formerly Index International AB (publ))General security agreement charging all present and after-acquired personal property and undertakings; mortgage of the Property in the principal amount of $35,000,000 (registered principal, not balance) — Related party: Index Residence is affiliated with majority shareholder Index Sweden (Index Group). Fully subordinated and assigned (Subordination and Assignment Agreement dated July 15, 2013) in favour of the Syndicate/Syndicate Security. Comprises Loan 1 ($5,000,000 demand loan, fully advanced - original principal), Loan 2 ($25,366,348.47 demand loan, fully advanced - original principal), ad · as of 15 Aug 2017 | $102M | Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf |
| 4 | Secured | Syndicate (National Bank of Canada, Canadian Western Bank, Laurentian Bank of Canada, Business Development Bank of Canada) · in 2 casesDemand debenture $210,000,000 (July 15, 2013) charging all property, assets and undertakings; personal property security; mortgage on real property at 170/176 Mills Road, Ajax; assignment of material contracts and insurance; limited recourse guarantees/pledges from Index Sweden, J. Kerr, R. Andrews; liquid security of $10 million from Index Residence (partially applied) — National Bank of Canada acts as Agent. Syndicate Credit Agreement dated July 15, 2013; non-revolving construction facility max $60,000,000 (facility limit, not balance). Interest hedging facility with National Bank of Canada · as of 30 Jun 2017 | $44.1M | Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf |
| 4 | Secured | Subcontractor Lien Claimants (various, unnamed)Construction liens under the Construction Lien Act (Ontario), vacated from title — DISCHARGED security - liens vacated pursuant to consent order of Justice Salmers dated March 24, 2017 following payment of $7,053,890 (the Holdback Funds) plus HST into court; no longer a current secured claim against the Property, but the Holdback Funds remain excluded from the DIP Lender's Charge and other Charges. — debtor: Index Energy Mills Road Corporation (Index Energy Ajax) · as of 24 Mar 2017 | $7.05M | Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf |
| 4 | Secured | Caterpillar Financial Services Limited · in 18 casesLessor/PPSA security interest over a 2014 Caterpillar 950K wheel loader — Amount not stated; security ranks ahead of proposed DIP Lender's Charge and Administration Charge. — debtor: Index Energy Mills Road Corporation (Index Energy Ajax) | — | Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf |
| 4 | Secured | HMI Construction Inc.Construction lien (HMI Lien Claim) registered on title to the Property under the Construction Lien Act (Ontario) — HMI Lien Claim registered April 28, 2015 in the amount of approximately $31.3 million; found by court (Nov 23, 2016 endorsement, upheld on appeal June 22, 2017) to be exaggerated by approximately $19,000,000; Index Energy Ajax able to vacate lien by payment of $16 million into court (this is the operative vacate amount, not a balance owed). Disputed claim - subject to litigation/counterclaim. — debtor: Index Energy Mills Road Corporation (Index Energy Ajax) · as of 28 Apr 2015 | — | Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf |
| 8 | Unsecured | Trade suppliers and professional/administrative services providers (aggregate as reported)Document names no individual creditors in the aggregate figure; some described qualitatively as 'Required Suppliers' including related parties Durham Disposal Services Ltd. and Simtor Environmental Ltd. (Index Group minority shareholdings, no majority control). — debtor: Index Energy Mills Road Corporation (Index Energy Ajax) · as of 8 Aug 2017 | $4M | Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf |
| 8 | Unsecured | Index Sweden AB (shareholder loans)Related party (majority shareholder via Index Group); unsecured shareholder loans; amount is a floor - document states 'in excess of' this figure. — debtor: Index Energy Mills Road Corporation (Index Energy Ajax) · as of 15 Aug 2017 | $4M | Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesUnpaid employee source deductions due August 10, 2017, not paid due to liquidity constraints; deemed trust class quasi-governmental claim; intended to be paid from first DIP advance. — debtor: Index Energy Mills Road Corporation (Index Energy Ajax) · as of 10 Aug 2017 | $33.2K | Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf |
| 8 | Unsecured | Landlord (2520 Haines Rd., Mississauga, Ontario) · in 12 casesAccrued unpaid rent for May, June and July 2017 (~$1,819.30/month inclusive of HST); potential preferred landlord claim status not specified. — debtor: Index Energy Mills Road Corporation (Index Energy Ajax) · as of 31 Jul 2017 | $5.46K | Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
RecoveriesAs stated in the filings
Closed · the record states no distribution outcome.
Estate financialsReported figures — never derived
Total assets at filing$123M
Total liabilities at filing$156M
As at 30 Jun 2017 · per Interim Financial Statements (unaudited) · Index Energy Mills Road Corporation (Index Energy Ajax), entity level — Major asset categories: Building $116,773,429.50, Plant Equipment $254,429.64, Current Assets $2,655,150.17. Major liability categories: Syndicate Facilities $44,086,831.54, Index Residence Facilities $102,496,654, Other Accounts Payable $3,495,517.54. Draft December 31, 2016 financial statements also exist but are unsigned due to management changes and not used for these figures. Total funded debt separately stated by Monitor's Report as approximately $146,583,486 as at August 15, 2017 (a different, later date/figure than the June 30, 2017 balance sheet liabilities total).
Documents
36 filings
| Date | Document | File |
|---|---|---|
| Order re Discharge & Termination of CCAA Proceedings dated March 12, 2018.pdf | Trustee site | |
| Motion Record re Discharge and Termination of CCAA Proceedings dated March 7, 2018.pdf | Trustee site | |
| Monitor's Certificate dated March 6, 2018.PDF | Trustee site | |
| Court Order dated February 27, 2018.PDF | Trustee site | |
| Endorsement dated February 27, 2018.PDF | Trustee site | |
| Motion Record of the Applicant - February 16, 2018.pdf | Trustee site | |
| Third Report of the Monitor dated February 15, 2018.pdf | Trustee site | |
| Endorsement - December 11, 2017.pdf | Trustee site | |
| Motion Record Returnable December 11, 2017.pdf | Trustee site | |
| Sale Approval and Vesting Order - December 11, 2017.pdf | Trustee site | |
| Sale Approval and Vesting Order dated December 11, 2017.pdf | Trustee site | |
| Stay Extension Order - December 11, 2017.pdf | Trustee site | |
| Unofficial Transcription of Endorsement of RSJ Morawetz - December 11, 2017.pdf | Trustee site | |
| Blackline Approval and Vesting Order - December 8, 2017.pdf | Trustee site | |
| Book of Authorities of the Applicant dated December 7, 2017.pdf | Trustee site | |
| Factum of the Applicant dated December 7, 2017.pdf | Trustee site | |
| Second Report of the Monitor dated November 30, 2017.pdf | Trustee site | |
| Email Service List dated October 27, 2017 | Trustee site | |
| Service List dated October 27, 2017 | Trustee site | |
| Order (Stay Extension and DIP Loan Extension) dated September 11, 2017 | Trustee site | |
| SISP Approval Order dated September 11, 2017 | Trustee site | |
| Book of Authorities of the Applicant dated September 7, 2017 | Trustee site | |
| Factum of the Applicant dated September 7, 2017 | Trustee site | |
| First Report of the Monitor dated September 6, 2017 | Trustee site | |
| Motion Record dated September 1, 2017 | Trustee site | |
| Endorsement dated August 23, 2017 | Trustee site | |
| CCAA Notice to Creditors dated August 17, 2017 | Trustee site | |
| Initial Order dated August 16, 2017 | Trustee site | |
| Monitor's Certificate.pdf | ||
| Affidavit of Rickard Haraldsson dated August 15, 2017 | Trustee site | |
| Application Record dated August 15, 2017 | Trustee site | |
| Book of Authorities of the Applicant dated August 15, 2017 | Trustee site | |
| Factum of the Applicant dated August 15, 2017 | Trustee site | |
| Notice of Application dated August 15, 2017 | Trustee site | |
Pre-Filing Report of the Proposed Monitor dated August 15- 2017.pdf
| ||
| Creditors List | Trustee site | |
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Index Energy Mills Road Corporation” (CCAA), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/index-energy-mills-road-corporation