Index Group et al
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-23-00698447-00CL
Index Group et al remain under the court-appointed receivership of MNP Ltd., ordered by the Ontario Superior Court of Justice (Commercial List) on May 8, 2023 under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, on the application of Canadian Western Bank in file CV-23-00698447-00CL. The bank is owed approximately $7,800,000.00. The Canada Revenue Agency asserts deemed trust claims against the group for unremitted HST, stated at approximately $400,000.00, and for unremitted employee source deductions. MNP's listing of known unsecured creditors runs across the group's numbered Ontario companies trading under location names including Burlington, Brantford, Newmarket, Napanee, Markham, Toronto, Whitby and Oshawa, and takes in landlords, utilities, food suppliers, delivery platforms and CRA source deduction accounts. The receivership is active.
Motion Record of the Receiver (Returnable February 20, 2024) dated — Application / notice of application
Motion Record of the Receiver (returnable on September 21, 2023) dated — Application / notice of application
Motion Record of the Receiver (returnable on July 24, 2023) dated — Application / notice of application
The court granted an approval and vesting order. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of the Purchase Price and satisfaction of the Transaction.
Source: Approval and Vesting Order dated
Motion Record of the Receiver (Returnable May 29, 2023) dated — Application / notice of application
The officer filed report no. First Report. The Receiver took control of the Companies' operating Popeye's and Denny's restaurant locations, retained an experienced Popeye's franchisee (DHS) to manage the Operating Popeye's, and is continuing to operate the Denny's locations with existing management, while preparing a sale process for the franchise businesses and other property.
The Commercial List appointed MNP Ltd. as receiver over the Index Holding Group entities, in Court File No. CV-23-00698447-00CL.
Application Record of Canadian Western Bank; returnable May 8, 2023 dated was filed. Court file CV-23-00698447-00CL.
Source: Application Record of Canadian Western Bank; returnable May 8, 2023 dated
Canadian Western Bank's application was electronically issued, seeking a receiver over the Index group under section 243(1) of the BIA and section 101 of the Courts of Justice Act.
Debtor
Index Group et al
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Penny | Ontario Superior Court of Justice | 3 orders, May 2023 – Mar 2024 | 196 cases on record |
| Justice Kimmel | Ontario Superior Court of Justice | 3 orders, May 2023 – Jul 2023 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverMNP | Dickinson Wright LLP · Cassels Brock & Blackwell LLP | 25 Apr 2023 | Application · 25 Apr 2023 |
| Applicant | Cassels Brock & Blackwell LLP | 25 Apr 2023 | Application · 25 Apr 2023 |
| PurchaserMuhammad Saleem | Adil Law Professional Corporation · Lawyer | 19 May 2023 | Service list · 19 May 2023 |
| CreditorMuqueet Adbul | Lawyer | 19 May 2023 | Service list · 19 May 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency · in 985 casesRe unremitted HST; stated as approximately $400,000.00; deemed trust class — debtor: Index Holding Group Inc. et al | $400K | Notice and Statement of Receiver dated |
| 3 | Deemed trusts (CRA and other) | |||
| 3 | Deemed trusts (CRA and other) | |||
| 3 | Deemed trusts (CRA and other) | |||
| 3 | Deemed trusts (CRA and other) | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
37 more claims in 3 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansThis 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.
Marketed — The Receiver is soliciting offers to purchase the assets and business of Index Group on a going-concern or other basis, individually or en bloc; interested parties must first sign this NDA to receive Information.Purchaser Confidentiality and Non-Disclosure Agreement (NDA) · 5 Jun 2023
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Muhammad Saleem421 Property · real property · nominee/assignee: a corporation to be formed · agreement 29 Mar 2023 | Subscribers | Proposedoutside 30 Jul 2023 | First report of the Receiver dated |
Unsecured creditors: no distribution. Canadian Western Bank short.EstimatedMotion Record of the Receiver (returnable on September 21, 2023) dated · 15 Sep 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredCWB (first-ranking secured creditor) | Canadian Western Bank | — | shortfall | Estimatedper the receiver | Motion Record of the Receiver (returnable on September 21, 2023) dated · 15 Sep 2023 |
| Unsecured | subordinate secured or unsecured creditors of the Index Group | — | no distribution | Estimatedper the receiver | Motion Record of the Receiver (returnable on September 21, 2023) dated · 15 Sep 2023 |
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.
| Date | Document | File |
|---|---|---|
Distribution Order dated
| PDF · Subscribers | |
Court Order
| PDF · Subscribers | |
| Motion Record of the Receiver (Returnable February 20, 2024) dated | PDF · Subscribers | |
Factum of Receiver (returnable on September 21, 2023) dated
| PDF · Subscribers | |
Motion Record of the Receiver (returnable on September 21, 2023) dated
| PDF · Subscribers | |
Endorsement of Honourable Justice Jessica Kimmel dated
| PDF · Subscribers | |
Factum of the Receiver; returnable July 24, 2023 dated
| PDF · Subscribers | |
Motion Record of the Receiver (returnable on July 24, 2023) dated
| PDF · Subscribers | |
Notice and Statement of Receiver dated
| PDF · Subscribers | |
Purchaser Confidentiality and Non-Disclosure Agreement (NDA)
| PDF · Subscribers | |
Sales Process
| PDF · Subscribers | |
Teaser
| PDF · Subscribers | |
Approval and Vesting Order dated
| PDF · Subscribers | |
Endorsement of Madam Justice Kimmel dated
| PDF · Subscribers | |
Motion Record of the Receiver (Returnable May 29, 2023) dated
| PDF · Subscribers | |
First report of the Receiver dated
| PDF · Subscribers | |
Service List as of
| PDF · Subscribers | |
Endorsement of Mr. Justice Penny dated
| PDF · Subscribers | |
Receiver's Appointment Order dated
| PDF · Subscribers | |
| Factum (Receivership Application); returnable May 8, 2023 | PDF · Subscribers | |
Application Record of Canadian Western Bank; returnable May 8, 2023 dated
| PDF · Subscribers | |
Notice of Application with the 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., “Index Group et al” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/index-group-et-al