Index Group
Follow- Proceeding
- Bankruptcysection 243(1) of the Bankruptcy and Insolvency Act; and section 101 of the Courts of Justice Act
- File
- CV-23-00698447-00CL
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.
Interim order granted on Tuesday, February 20, 2024, the date from which the proceeding is recorded as commencing.
Source: Ontario Court of Justice Court Order re: Consolidated Bankruptcy Filing dated
Court officer's report recording that MNP Ltd. had been appointed receiver and manager on May 8, 2023, the earliest step captured in this matter.
Debtor
Index Group
Trustee in bankruptcy
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Canadian Western Bank (CWB) · in 80 casesFirst ranking security over all Property, per legal opinion of Dickinson Wright LLP — Per Proof of Claim filed as of 5:00 pm April 2, 2024; admissibility not yet determined by Trustee — debtor: Index Group (collectively) · as of 2 Apr 2024 | $7.52M | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) - Index International Inc. · in 532 casesDocument names no individual creditors for this entity — debtor: Index International Inc. · as of 20 Mar 2024 | $8.38M | Trustee's Preliminary Report dated |
| 8 | Unsecured | Canadian Western Bank (CWB) · in 80 casesUnsecured portion of CWB's claim; admissibility not yet determined by Trustee — debtor: Index Group (collectively) · as of 2 Apr 2024 | $1.01M | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) - 2700774 Ontario Inc. · in 532 casesDocument names no individual creditors for this entity — debtor: 2700774 Ontario Inc. · as of 20 Mar 2024 | $342K | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) - 11030434 Canada Inc. · in 532 casesDocument names no individual creditors for this entity — debtor: 11030434 Canada Inc. · as of 20 Mar 2024 | $19 | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) - 2775290 Ontario Inc. · in 532 casesDocument names no individual creditors for this entity — debtor: 2775290 Ontario Inc. · as of 20 Mar 2024 | $14 | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) - Index Foods Inc. · in 532 casesDocument names no individual creditors for this entity — debtor: Index Foods Inc. · as of 20 Mar 2024 | $13 | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) - 2737332 Ontario Inc. · in 532 casesDocument names no individual creditors for this entity — debtor: 2737332 Ontario Inc. · as of 20 Mar 2024 | $3 | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) - 421 Wharncliffe Ltd. · in 532 casesDocument names no individual creditors for this entity — debtor: 421 Wharncliffe Ltd. · as of 20 Mar 2024 | $3 | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) - 11030418 Canada Inc. · in 532 casesDocument names no individual creditors for this entity — debtor: 11030418 Canada Inc. · as of 20 Mar 2024 | $3 | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) - Index Holding Group Inc. · in 532 casesDocument names no individual creditors for this entity — debtor: Index Holding Group Inc. · as of 20 Mar 2024 | $3 | Trustee's Preliminary Report dated |
Unsecured creditors: no distribution. Canadian Western Bank short.EstimatedTrustee's Preliminary Report dated · 2 Apr 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredCWB | Canadian Western Bank | — | shortfall | Estimatedper the trustee | Trustee's Preliminary Report dated · 2 Apr 2024 |
| Unsecured | creditors whose claims are subordinate to CWB | — | no distribution | Estimatedper the trustee | Trustee's Preliminary Report dated · 2 Apr 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.
As at 31 Jan 2024 · per Receiver's Fifth Report to Court · Index Group (collectively), net proceeds of realizations of substantially all Property — Net proceeds of $1,657,301 held by Receiver as at January 31, 2024, compared to CWB's secured debt of approximately $8.1 million plus accruing interest and costs; separately, Receiver states it currently holds $1.7 million, all subject to statutory priority claims and CWB security interest
| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report dated
| ||
| Cover Letter: Notice to Creditors regarding Bankruptcies dated | ||
| Creditor's Package for Index International Inc. dated | ||
| Creditor's Package of 11030418 Canada Inc. dated | ||
| Creditor's Package of 11030434 Canada Inc. dated | ||
| Creditor's Package of 2700774 Ontario Inc. dated | ||
| Creditor's Package of 2737332 Ontario Inc. dated | ||
| Creditor's Package of 2775290 Ontario Inc. dated | ||
| Creditor's Package of 421 Wharncliffe Ltd. | ||
| Creditor's Package of Index Foods Inc. dated | ||
| Creditor's Package of Index Holding Group Inc. dated | ||
| Certificate of Appointment of 11030418 Canada Inc. | ||
| Certificate of Appointment of 11030434 Canada Inc. | ||
| Certificate of Appointment of 2700774 Ontario Inc. | ||
| Certificate of Appointment of 2737332 Ontario Inc. | ||
| Certificate of Appointment of 2775290 Ontario Inc. | ||
| Certificate of Appointment of 421 Wharncliffe Ltd. | ||
| Certificate of Appointment of Index Foods Inc. | ||
| Certificate of Appointment of Index Holding Group Inc. | ||
| Certificate of Appointment of Index International Inc. | ||
Ontario Court of Justice Court Order re: Consolidated Bankruptcy Filing dated
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Index Group” (Bankruptcy), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/index-group