#Filing
Application Record (Claims Process) – Returnable September 2, 2026 — Application / notice of application
Mirror Trading International (Pty) Ltd.
FollowActive
- Proceeding
- Receivership (court-appointed)sections 272(1)(d) and 275(3)(a) of the Bankruptcy and Insolvency Act and section 13(2) of the Judicature Act, RSA 2000, c J-2
- File
- 2301-05332
Filings held16
Last activity2 Sep 2026
On the record159 days
OverviewSummary updated
Mirror Trading International (Pty) Ltd. is in a court-appointed receivership in Alberta, commenced by an order pronounced on April 15, 2026 in the Court of King's Bench of Alberta under court file 2301-05332. The proceeding is active. Its scope is narrow: the sole asset identified is the debtor's claims against Canadian Investors, carried at a net book value of CAD 73,057,078.93 as at May 19, 2026, calculated from records prepared by the debtor's South African liquidators using a Bitcoin price of $76,750.91, the closing price that day. The record states there are no secured creditors and no other creditors in the Canadian proceedings. Actual realizations depend on the outcome of a court-supervised claims process, and the net book value figure is presented subject to a forecast and estimate caveat.
Proceedings AIAsk this case — answers cite the filings
Case updates17 dated entries
#Report
The officer filed report no. Second Report. MTI has no ongoing legitimate business operations (it was a Ponzi scheme) and is in South African liquidation; the Receiver is focused on developing and seeking approval of a claims/clawback process against Canadian Investors rather than any operating business.
Source: Second Report of the Receiver
#Order
The court appointed GlassRatner Restructuring Inc. as national Receiver, on the application of Chavonnes Badenhorst St Clair Cooper, as Foreign Representative. Court file 2301-05332.
Source: Order of Justice Marion (Amended and Restated Receivership Order)
#Order
Order pronounced April 15, 2026 placing the debtor into receivership in the Court of King's Bench of Alberta, commencing the Canadian proceedings under file 2301-05332.
AnalysisAll insights
Case update
Mirror Trading International: thirty-one names, and then all of them
Mirror Trading International took at least 39,193 Bitcoin from some 304,040 people in 234 countries before South Africa wound it up. Its liquidators have chased the money through thirteen jurisdictions. In Alberta, a national receiver was appointed in April over the Bitcoin held by thirty-one Canadians — the largest recipients. On June 29 the receiver asked the court to widen that to every Canadian who took a payout, roughly 1,550 people holding 951.9 Bitcoin, and to be allowed to serve them all by email.
Parties
Debtor
Mirror Trading International (Pty) Ltd.
Receiver
GlassRatner
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Marion | Court of King's Bench of Alberta | 3 orders, Apr 2026 – Jul 2026 | 24 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorAllan Cunningham | Wilson Laycraft | 19 May 2026 | Order · 19 May 2026 |
| CreditorJean Rivest and Cassandra Moyen a.k.a | Bryan & Company LLP | 19 May 2026 | Service list · 19 May 2026 |
| CreditorMartin Manseau | Carscallen Leitch LLP | 19 May 2026 | Order · 19 May 2026 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | MTI estate creditors (aggregate claims filed)Aggregate of claims filed by 9,277 creditors (MTI Ponzi-scheme victims) against the South African estate; no individual creditors named. Stated original amount is approximately R6.4 billion ZAR, with $551,913,600 given as the CAD equivalent (the report states all monetary amounts are in Canadian dollars). Figure represents claims filed/lodged in the South African liquidation, not an independent officer's estimate. This Canadian receivership concerns recovery (clawback) of Bitcoin, or its CAD equivalent, disposed by MTI to Canadian net-winner investors; approximately 1,550 Canadian investors re · as of 29 Jun 2026 | $552M | First Report of the Receiver |
Estate financialsReported figures — never derived
Total assets at filing$73.1M
As at 19 May 2026 · per Net book value of Affected Property as detailed in records prepared by the South African Liquidators of the Debtor, using a Bitcoin price of $76,750.91 (closing price on May 19, 2026) · Affected Property (claims against Canadian Investors) held by the Debtor, Canadian receivership proceedings only — Document states 'There are no secured creditors in the Canadian proceedings' and 'There are no other creditors in the Canadian proceedings.' Sole asset listed is 'Claims against Canadian Investors' at net book value; actual realizations depend on outcome of a court-supervised claims process (forecast/estimate caveat).
Documents
16 filings
| Date | Document | File |
|---|---|---|
| Application Record (Claims Process) – Returnable September 2, 2026 | ||
| Aide Memoire (Undertaking) | ||
| Brief of Law | ||
Second Report of the Receiver
| ||
| Letter to Investors re: Claims Process Application (English) | ||
| Letter to Investors re: Claims Process Application (French) | ||
Order of Justice Marion (Amended and Restated Receivership Order)
| ||
| Application Record – dated 2026-06-29 | ||
First Report of the Receiver
| ||
Notice and Statement of the Receiver
| ||
Order of Justice Marion (Receivership Order)
| ||
Service List
| ||
Endorsement of Justice M. A. Marion
| ||
| Affidavit of the Applicant | ||
| Application Record | ||
| Pre-Filing Report of the Receiver | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Mirror Trading International (Pty) Ltd.” (Receivership (court-appointed)), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/mirror-trading-international-pty-ltd