Ivrnet Inc.

Active

Proceeding: Proposalsections 58 and 59 of the Bankruptcy and Insolvency Act
Court: Court of King's Bench of Alberta
File: B301-004437

Filings held8

Last activity24 Nov 2023

On the record1,057 days

OverviewSummary updated 1 September 2026

Ivrnet Inc. obtained approval of its Division I proposal in the Court of King's Bench of Alberta on November 24, 2023, in proceedings brought by Alvarez & Marsal Canada Inc. under section 192 of the ABCA and carried under court file no. B301-004437. The statement of affairs sworn by Andrew Watts at October 30, 2023 shows total assets of $389,981.00 against total liabilities of $6,532,376.15 and a deficiency of $6,142,395.15. Three Supporting Creditors hold first charge security over the company's assets: R.C. Morris & Company Special Opportunities Fund III Limited Partnership at $5,198,366.62, David Snell at $253,027.40 and Parlee McLaws LLP at $216,997.00. Artis REIT Estate Investment is the largest unsecured creditor at $388,558.67.

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FormProof of Claim Form

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Case updates5 dated entries · 4 undated

24 Nov 2023

#Order

Interim order granted November 24, 2023 on Alvarez & Marsal Canada Inc.'s application under section 192 of the ABCA, in court file B301-004437.

Source: Proposal Approval Order

24 Nov 2023

#Order

Court approved the Division I proposal the same day, leaving each Supporting Creditor's balance unpaid after Supporting Creditor Payments as an unsecured deficiency claim without entitlement to distribution.

Source: Proposal Approval Order

24 Nov 2023

#Filing

Application – Proposal Approval — Application / notice of application

PDF · Subscribers

2 earlier updates, back to 30 October 2023 — subscribers.

Undated filings4 — no date appears on the document · show

4 filings carry no date on their face — subscribers.

Parties

Debtor

Ivrnet Inc.

Proposal trustee

Alvarez & Marsal

Capital structureAs asserted in the filings

Priority class	Creditor	Amount	Source
Secured	R.C. Morris & Company Special Opportunities Fund III Limited Partnership (by its General Partner R.C. Morris & Company S.O. Fund III GP Ltd.)as of NOI/proposal filing date (October 30, 2023) — First charge security over the Company's assets — Listed as 'R.C. Morris & Company S.O. Fund III Holdings Ltd.' in Statement of Affairs/creditor list with exact claim amount of $5,198,366.62; Trustee's Report describes approximate figure of $5.2 million; one of three 'Supporting Creditors' under the Proposal — debtor: Ivrnet Inc.	$5.2M	Notice to Creditors

40 more claims across lower-ranking classes

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RecoveriesAs stated in the filings

Unsecured creditors: a distribution.Under the plan · sanctionedProposal Approval Order · 24 Nov 2023

Class	Creditor	Claims	Recovery	Basis	Source
Secured	Supporting Creditors (Secured Creditors)	—	paid in full	Under the plansanctionedper the debtor	Form 40 – Report on Proposal
Preferred	—	—	paid in full	Under the plansanctionedper the court	Proposal Approval Order · 24 Nov 2023
Unsecured	Unsecured Claims that are Convenience Claims	—	a distributionconditional	Under the plansanctionedper the court	Proposal Approval Order · 24 Nov 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.

Estate financialsReported figures — never derived

The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers

Professional fees to date

$51.2K

As at 14 Nov 2023Proposal Trustee’s First Report

Documents8 filings

Date	Document	File
24 Nov 2023	Application – Proposal Approval Applicant Alvarez & Marsal Canada Inc. Appointee Alvarez & Marsal Canada Inc. Appointee role proposal trustee Court COURT OF KING'S BENCH OF ALBERTA + 2 more extracted facts	PDF · Subscribers

24 Nov 2023	Proposal Approval Order Applicant Alvarez & Marsal Canada Inc. Commencement date 24 November 2023 Court COURT OF KING’S BENCH OF ALBERTA Court file no B301-004437 + 3 more extracted facts	PDF · Subscribers

14 Nov 2023	Proposal Trustee’s First Report Appointee Alvarez & Marsal Canada Inc. Appointee role Proposal Trustee Commencement date 30 October 2023 Cash on hand Subscribers + 11 more extracted facts	PDF · Subscribers

31 Oct 2023	Notice to Creditors Financial position · Secured creditors · Unsecured creditors Subscribers	PDF · Subscribers

—	Form 40 – Report on Proposal Recovery outcome Entries: per plan; per plan; per plan; per liquidation_alternative · Table missing:	PDF · Subscribers

—	Proof of Claim Form	PDF · Subscribers

—	Proxy Form	PDF · Subscribers

—	Voting Letter	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., “Ivrnet Inc.” (Proposal), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/ivrnet-inc