Proceedings.

Mitel Networks Corporation

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Closed
Proceeding
Foreign recognition (CCAA)SECTION 46 OF THE COMPANIES’ CREDITORS ARRANGEMENT ACT , R.S.C. 1985, c. C-36, AS AMENDED
Court
Ontario Superior Court of Justice · Commercial List
File
CV-25-00738691-00CL
Filings held17
Last activity24 Jun 2025
On the record560 days
Secured debt$1.31B
OverviewSummary updated

Mitel Networks Corporation is the subject of a foreign recognition proceeding under section 46 of the Companies' Creditors Arrangement Act, brought before the Ontario Superior Court of Justice (Commercial List) in Court File No. CV-25-00738691-00CL and commenced on March 10, 2025. The court granted an interim order that same day. MNC guarantees the Mitel Group's secured funded debt, stated in the record at approximately US$1.31 billion as of the March 10, 2025 petition date, including US$156 million of Priority Lien term loans, US$576 million of Second Lien term loans, US$235 million of Legacy Senior term loans and US$108 million of Legacy Junior term loans. MNC granted Canadian security for the Senior and Junior Loans but not for the ABL Loans. The proceeding is closed.

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Case updates18 dated entries
#Filing

Mitel Networks Corporation — Interim Stay Order filed, Ontario.

AnalysisAll insights⁠

Outcome brief

Mitel: 2.9% of the revenue, 100% of the guarantee

Mitel Networks Corporation was one leased office in Ottawa, 323 employees and a guarantee of the group's entire US$1.31 billion of funded debt; its CCAA Part IV recognition proceeding ran 106 days and ended on a three-page certificate from FTI.

Parties

Debtor

Mitel Networks Corporation

Information officer

FTI

Capital structureAs asserted in the filings
USD · stated amounts, drawn to scale · 1 named without a figure
#Priority classCreditorAmountSource
4SecuredAll Secured Funded Debt Lenders (aggregate, ABL + Senior + Junior Loans)as of March 2025 — Aggregate of ABL Loans, Senior Loans, and Junior Loans tranches listed individually above — Document-stated total secured funded debt of the Company as of the Petition Date; MNC is a guarantor of the entire $1.31 billion (para 42), though it has granted security only in respect of the Senior and Junior Loans, not the ABL Loans (para 29). — debtor: Mitel Group (MNC is guarantor of the entire amount)$1.31B USDPre-Filing Report of the Proposed Information Officer
4SecuredSecond Lien Term Loan Lendersas of March 2025 — Senior Loans tranche; maturity October 2027; secured by MNC's existing and after-acquired personal property in respect of MNC's guarantee (per para 29); subject to Omnibus Intercreditor Agreement — Approximate principal amount outstanding. — debtor: Mitel Group (MNC is guarantor)$576M USDPre-Filing Report of the Proposed Information Officer
4SecuredLegacy Senior Term Loan Lendersas of March 2025 — Junior Loans tranche; maturity November 2025; secured by MNC's existing and after-acquired personal property in respect of MNC's guarantee (per para 29); subject to Omnibus Intercreditor Agreement — Approximate principal amount outstanding. — debtor: Mitel Group (MNC is guarantor)$235M USDPre-Filing Report of the Proposed Information Officer
4SecuredPriority Lien Term Loan Lendersas of March 2025 — Senior Loans tranche; maturity October 2027; secured by MNC's existing and after-acquired personal property in respect of MNC's guarantee (per para 29); subject to Omnibus Intercreditor Agreement — Approximate principal amount outstanding. $62 million of this tranche is contemplated to be rolled up into DIP Loans upon entry of the Final DIP Order (post-filing; not reflected here). — debtor: Mitel Group (MNC is guarantor)$156M USDPre-Filing Report of the Proposed Information Officer
4SecuredThird Lien Term Loan Lendersas of March 2025 — Senior Loans tranche; maturity October 2027; secured by MNC's existing and after-acquired personal property in respect of MNC's guarantee (per para 29); subject to Omnibus Intercreditor Agreement — Approximate principal amount outstanding. — debtor: Mitel Group (MNC is guarantor)$125M USDPre-Filing Report of the Proposed Information Officer
4SecuredLegacy Junior Term Loan Lendersas of March 2025 — Junior Loans tranche; maturity November 2026; secured by MNC's existing and after-acquired personal property in respect of MNC's guarantee (per para 29); subject to Omnibus Intercreditor Agreement — Approximate principal amount outstanding. — debtor: Mitel Group (MNC is guarantor)$108M USDPre-Filing Report of the Proposed Information Officer
4SecuredIncremental Revolving Loan Lendersas of March 2025 — Senior Loans tranche; maturity November 2025; secured by MNC's existing and after-acquired personal property in respect of MNC's guarantee (per para 29); subject to Omnibus Intercreditor Agreement — Approximate principal amount outstanding. — debtor: Mitel Group (MNC is guarantor)$64M USDPre-Filing Report of the Proposed Information Officer
4SecuredThird Lien Additional Facility Lendersas of March 2025 — Senior Loans tranche; maturity October 2027; secured by MNC's existing and after-acquired personal property in respect of MNC's guarantee (per para 29); subject to Omnibus Intercreditor Agreement — Approximate principal amount outstanding. — debtor: Mitel Group (MNC is guarantor)$32M USDPre-Filing Report of the Proposed Information Officer
4SecuredABL Lenders (Non-Swiss ABL Loans tranche) · in 3 casesas of March 2025 — ABL facility; maturity May 2027 — Approximate principal amount outstanding. MNC is a guarantor of the ABL Loans but has NOT granted security in respect of this guarantee (effectively unsecured as to MNC's assets), per para 29. — debtor: Mitel Group (MNC is guarantor)$14M USDPre-Filing Report of the Proposed Information Officer
4SecuredABL Lenders (Swiss ABL Loans tranche) · in 3 casesas of March 2025 — ABL facility; maturity May 2027 — Approximate principal amount outstanding. MNC is a guarantor of the ABL Loans but has NOT granted security in respect of this guarantee (effectively unsecured as to MNC's assets), per para 29. — debtor: Mitel Group (MNC is guarantor)$3M USDPre-Filing Report of the Proposed Information Officer
8UnsecuredABL Lenders (unsecured guarantee) · in 3 casesas of March 2025 — Components per Company debt table (not summed): Swiss ABL Loans approx. $3 million outstanding; Non-Swiss ABL Loans approx. $14 million outstanding, both as of March 2025 — debtor: Mitel Networks Corporation (MNC)—First Report of the Information Officer

“not stated” means the record names the claim without a figure; “—” means not in the extracted record.

RecoveriesAs stated in the filings

Unsecured creditors: paid in full.Under the planFirst Report of the Information Officer · 8 Apr 2025

ClassCreditorClaimsRecoveryBasisSource
Unsecured——paid in fullUnder the planper the monitorFirst Report of the Information Officer · 8 Apr 2025

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.

Fees and ratesAs stated in the filings

2 engagements · 2 firms — latest: Stikeman Elliott LLP, 25 Feb – 14 Apr 2025, $92,235.85 in feesSecond Report of the Information Officer · 22 Apr 2025

FirmPeriodHoursFeesRatesSource
FTI Consulting Canada Inc.Information officer3 Mar – 31 Mar 202566.4$69,399.50ex. tax$720 – $1,2803 peopleSecond Report of the Information Officer · 22 Apr 2025
3 people — FTI Consulting Canada Inc., 3 Mar – 31 Mar 2025
NameTitleHoursRateFees
Jeffrey RosenbergSenior Managing Director30.9$1,280$39,552.00
Hrvoje MuhekManaging Director17.5$965$16,887.50
Matthew GreenbergSenior Consultant18$720$12,960.00
Total———$69,399.50
Stikeman Elliott LLPCounsel to the information officer25 Feb – 14 Apr 2025104.78$92,235.85ex. tax$440 – $1,4258 peopleSecond Report of the Information Officer · 22 Apr 2025
8 people — Stikeman Elliott LLP, 25 Feb – 14 Apr 2025
NameYear of callHoursRateFees
D.C. Mitchell199814.09$1,425—
Maria Konyukhova200627.52$1,250—
Lee Nicholson20143.17$1,100—
L.V. van Zyl201912.9$795—
Philip Yang20210.2$730—
A. Shori202313.92$670—
J. CastiglioneClerk0.42$515—
M. PasquarielloStudent32.56$440—

Top rate $1,425 · 85th percentile of counsel rates, 2025 · of 80

Documents
17 filings
DateDocumentFile
Termination Certificate of the Information OfficerPDF
Endorsement of Justice Osborne
  • Presiding officer Justice Osborne
PDF
Confirmation Recognition and Termination Order
  • Presiding officer Justice Osborne
PDF
Factum of the Applicant (Motion for Confirmation Recognition and Termination Order)
  • Recovery outcome Entries: per plan · Table missing:
PDF
Motion for Confirmation Recognition and Termination OrderPDF
Second Report of the Information Officer
  • Fee schedule Engagements: Form: invoice_listing · Rows: Jeffrey Rosenberg; Hrvoje Muhek; Matthew Greenberg; Fees: 69399.5 · Quote: Total | | | | 69,399.50 · Row kind: subtotal · Rate kind: standard · Name as stated: Total · Money: Tax: $9.89K · Label: HST · Quote: 9,885.93 · Fees: $69.4K · Quote: 69,399.50 · Total: $85.9K · Quote: TOTAL BILLED : $85,931.51 · includes tax · includes disbursements · Approximate: false · Disbursements: $6.65K · Quote: 6,646.08 · Period: End: 2025-03-31 · Kind: invoice · Quote: For the Period March 3, 2025, to March 31, 2025 · Start: 2025-03-03 · Approval: State: unstated · Averages: before HST · Currency: Code: CAD · Quote: Total Professional | Services CAD · Invoices: Tax: 9885.93 · Date: 2025-03-31 · Fees: 69399.5 · Quote: 102900002285 (March 1, 2025 - March 31, 2025) | 31-Mar- 25 | 69,399.50 | 6,646.08 | 9,885.93 | 85,931.51 | 66.40 | 1,045.17 · Total: 85931.51 · Period end: 2025-03-31 · Average rate: 1045.17 · Period start: 2025-03-01 · Disbursements: 6646.08 · Firm text: FTI Consulting Canada Inc. · Firm quote: I am a Senior Managing Director with FTI Consulting Canada Inc. (' FTI '), the Courtappointed Information Officer (the ' Information Officer ') of Mitel Networks Corporation · Hours total: Quote: 66.40 · Value: 66.4 · Context quote: FTI's conduct and activities for the period from March 3, 2025, to March 31, 2025, are set out in the Information Officer's reports to this Court.; Form: invoice_listing · Rows: J. Castiglione; M. Konyukhova; D.C. Mitchell; L. Nicholson; M. Pasquariello; A. Shori; L.V. van Zyl; P. Yang · Money: Tax: $12K · Label: HST · Quote: 11,995.60 · Fees: $92.2K · Quote: 92,235.85 · Total: $104K · Quote: TOTAL BILLED : $104,277.40 · includes tax · includes disbursements · Approximate: false · Disbursements: $46 · Quote: 45.95 · Period: End: 2025-04-14 · Kind: invoice · Quote: For the Period February 25, 2025, to April 14, 2025 · Start: 2025-02-25 · Approval: State: unstated · Averages: before HST · Currency: Code: CAD · Quote: Total Disbursements and Taxes CA $50.89 · Invoices: Tax: 11995.6 · Date: 2025-04-17 · Fees: 92235.85 · Quote: 6257383 | 17-Apr-25 | 104.78 | 92,235.85 | 45.95 | 11,995.60 | 104,277.40 · Total: 104277.4 · Disbursements: 45.95 · Firm text: Stikeman Elliott LLP · Firm quote: Lawyers for FTI Consulting Canada Inc., solely in its capacity as the Information Officer and not in its personal or corporate capacity. · Hours total: Quote: 104.78 · Value: 104.78 · Context quote: Lawyers for FTI Consulting Canada Inc., solely in its capacity as the Information Officer and not in its personal or corporate capacity.
PDF
Endorsement of Justice Conway
  • Presiding officer Justice Conway
PDF
Second Supplemental Order
  • Presiding officer Justice Conway
PDF
Service ListPDF
First Report of the Information Officer
  • Recovery outcome Entries: per plan · Table missing:
  • Secured creditors $125M USD · Note: Approximate principal amount outstanding per Company table; part of Mitel Group's total secured funded debt of $1.31 billion · Page: 8 · As of: March 2025 · Debtor: Mitel Networks Corporation (MNC), as guarantor; Mitel Group as borrower · Creditor: Third Lien Term Loan Lenders · Security: Senior Loans tranche; MNC granted security interests in its existing and after-acquired personal property in respect of its guarantee; subject to Omnibus Intercreditor Agreement; maturity October 2027
  • Unsecured creditors per MNC is a guarantor of the ABL Loans but 'has not granted security in respect of its guarantee of the ABL Loans'; listed among MNC's unsecured obligations as 'unsecured guarantee in respect of the ABL Loans' — Components per Company debt table (not summed): Swiss ABL Loans approx. $3 million outstanding; Non-Swiss ABL Loans approx. $14 million outstanding, both as of March 2025
PDF
Initial Recognition Order (Foreign Main Proceeding)
  • Court ONTARIO SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
  • Court file no CV-25-00738691-00CL
  • Proceeding type recognition_ccaa
  • Statutory basis SECTION 46 OF THE COMPANIES’ CREDITORS ARRANGEMENT ACT , R.S.C. 1985, c. C-36, AS AMENDED
PDF
Supplemental Order (Foreign Main Proceeding)PDF
Factum of the Applicant (Application for Initial Recognition Order and Supplemental Order)PDF
Pre-Filing Report of the Proposed Information Officer
  • Secured creditors $156M USD · Note: Approximate principal amount outstanding. $62 million of this tranche is contemplated to be rolled up into DIP Loans upon entry of the Final DIP Order (post-filing; not reflected here). · Page: 10 · As of: March 2025 · Debtor: Mitel Group (MNC is guarantor) · Creditor: Priority Lien Term Loan Lenders · Security: Senior Loans tranche; maturity October 2027; secured by MNC's existing and after-acquired personal property in respect of MNC's guarantee (per para 29); subject to Omnibus Intercreditor Agreement
PDF
Application Record
  • Secured creditors $14.3M USD · Note: Capital structure table (p.50) rounds outstanding amount to $14 million as of March 2025; no Canadian security granted by MNC for ABL Loans. · Page: 29 · As of: Petition Date (March 10, 2025) · Debtor: Mitel Networks Corporation (MNC) - guarantor · Creditor: BTG Pactual US (ABL Lender) · Security: Non-Swiss ABL Loan Credit Agreement dated May 30, 2024
PDF
Factum of the Applicant (Application for Interim Stay Order)PDF
Interim Stay Order (Foreign Proceeding)
  • Order date 10 March 2025
PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Mitel Networks Corporation” (Foreign recognition (CCAA)), Ontario Superior Court of Justice · Commercial List. Retrieved 20 September 2026, https://proceedings.ca/case/mitel-networks-corporation

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Sources last checked · summary updated 9 August 2026 · Report a correction · Printed from proceedings.ca/case/mitel-networks-corporation

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.