Index Group

Index Group is in bankruptcy under the BIA, commenced 20 February 2024 in the Ontario Superior Court of Justice (Commercial List), court file CV-23-00698447-00CL. MNP Ltd. acts as receiver and manager, appointed 8 May 2023, when Canadian Western Bank was owed $8,141,405.08 on first ranking security over all of the Property, per a legal opinion of Dickinson Wright LLP. The Receiver's Fifth Report puts net proceeds of realizations of substantially all Property at $1,657,301 as at 31 January 2024, against CWB secured debt of approximately $8.1 million plus accruing interest and costs, and states the Receiver holds $1.7 million, subject to statutory priority claims and CWB's security. CWB's proof of claim, filed as of 2 April 2024, asserts $7,520,314 secured and $1,005,645 unsecured, admissibility not yet determined by the Trustee. Statements of Affairs as at 20 March 2024 report aggregate unsecured claims of $8,375,151 against Index International Inc. and $342,139 against 2700774 Ontario Inc.