Mobi724 Global Solutions Inc.
- Proceeding
- NOIBankruptcy and Insolvency Act (the "BIA"), RSC 1985, c. B-3, s.s. 50.4 (9)
- File
- 500-11-065571-255
- Industry
- Financial services · Payments, FX & fintech
Mobi724 Global Solutions Inc. filed a notice of intention to make a proposal under section 50.4 of the BIA on April 22, 2025, with Richter Inc. as trustee. Unaudited figures as at September 30, 2024 showed total assets of $935,000 against total liabilities of $18,215,000 and a shareholders' equity deficit of $(17,279) thousand. Secured claims at the filing date included Investissement Québec at $3.2 million on a secured debenture and $600,000 under its Innovation program, Business Development Bank of Canada at $1.9 million, R&D Capital Inc. at $400,000, and a $700,000 priority claim of Revenue Canada and Revenu Québec for unremitted source deductions. A May 1, 2025 order granted an Interim Financing Charge of $1,085,000 securing a facility of up to $868,000 from 9538-5616 Quebec Inc., ranking ahead of a $150,000 Administration Charge. The stay is extended to August 21, 2025.
A claims procedure has been established — see the order for deadlines.
Trustee’s Application to Court to Refuse Approval of the Debtor’s Re-amended Proposal – dated October 20, 2026 — Application / notice of application
Trustee reported default under the Re-Amended Proposal — approximately $257,000 of unremitted post-filing source deductions, approximately $230,000 of unpaid professional fees, no Teknika AAC Solutions refinancing — and recommended the Court refuse approval.
Source: Report of Trustee on Proposal – dated October 15, 2026
Notice of Adjournment of the Meeting of Creditors – dated November 25, 2025 — Notice to creditors
Trustee reported the sale closed with the Debtor holding no assets of value, liabilities of $18,674,000, and a $320,000 settlement fund returning 1.8% to unsecured creditors against nil on liquidation.
Source: Report of the Proposal Trustee on the Financial Situation of the Debtor and on Amended Proposal
Debtor’s Fourth Application for extension of the delay to file a Proposal — Application / notice of application
Sixth Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs — Court officer report
Debtor’s Third Application for extension of the delay to file a Proposal — Application / notice of application
Fifth Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs — Court officer report
Sale of substantially all assets to related party 95385613 Quebec Inc. approved for an estimated $1,626,938 in assumed liabilities, vesting on issuance of the Trustee's Certificate; ninety parties solicited, three signed confidentiality agreements, no competing bids.
Source: Approval and Vesting Order
A second order bearing the July 23 date was granted in the proceedings before the Superior Court at Montréal.
Amended Application for the issuance of a Sale Approval and Vesting Order — Approval and vesting order
A further order followed on July 7, the second of three granted in the proceedings before the Montréal court.
Debtor’s Second Application for Extension of the Delay to file a Proposal — Application / notice of application
Third Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs — Court officer report
Order granted in the proposal proceedings before the Superior Court at Montréal, six days after the Company's application.
Mobi724 applied to the Superior Court at Montréal under s. 50.4(9) of the BIA, court file 500-11-065571-255, Richter Inc. acting as trustee, represented by Woods LLP.
Source: Debtor’s First Application for Extension of Delay to File a Proposal
Second Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs — Court officer report
Exhibit R-3-Debtor Second Application for Extension of the Delay to File a Proposal — Application / notice of application
Application for an Order (1) Approving Interim Financing and Interim Financing Charge, and (2) Approving an Administration Charge — Application / notice of application
Mobi724 Global Solutions Inc. — NOI filed, Quebec.
Source: Certificate of Filing of a Notice of Intention to Make a Proposal
Undated filings4 — no date appears on the document · show
Filing brief
Mobi724: Richter asks the court to refuse the proposal creditors accepted
Creditors of the Montreal fintech accepted its proposal, which offers ordinary creditors $320,000, on February 26, 2026. On October 20 its trustee, Richter, asked the court to refuse approval and have the company deemed bankrupt, swearing that post-filing source deductions it puts at about $257,000 and the first $160,000 instalment have not been paid.
Debtor
Mobi724 Global Solutions Inc.
Proposal trustee
Richter
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Registrar Aubé | Superior Court of Québec | 3 orders, May 2025 – Jul 2025 | 79 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorMobi724 Global Solutions Inc. | Woods LLP | 18 Aug 2025 | Application · 18 Aug 2025 |
| CreditorMtre | Woods LLP | 1 May 2025 | Application · 1 May 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Revenu Canada - DASSource deductions (DAS) — deemed trust class claim — debtor: Mobi724 Global Solutions Inc. · as of 22 Apr 2025 | $400K | Notice to Creditors of Intention to Make a Proposal |
| 3 | Deemed trusts (CRA and other) | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
67 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 plans2 transactions · 1 proposed · 1 not completed — The sale to 9538-5613 Quebec Inc. was approved by the Court, but the transaction documents remain held in trust pending payment of post-filing professional fees, so the sale has not closed.Report of Trustee on Proposal – dated October 15, 2026 · 15 Oct 2026
Stalking horse
9538-5613 Quebec Inc. · Subscribers
| Purchaser | Price | Status | Source |
|---|---|---|---|
| stalking horse bid being prepared by management, not yet finalizedassets of and assume various liabilities of the Company · asset sale | not stated | Proposed | Second Report of the Proposal Trustee on the… |
| 9538-5613 Québec Inc.the assets described in the Application (the " Purchased Assets ") and listed in Schedule ' A ' · asset sale | Subscribers | Not completeddate not stated | Fifth Report of the Proposal Trustee on the… |
Unsecured creditors: a distribution.Under the plan · vote pendingReport of Trustee on Proposal · 15 Oct 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in fullconditional | Under the planvote pendingper the debtor | Re-Amended Proposal BLACKLINE · 26 Feb 2026 |
| Preferred | — | — | a distributionconditional | Under the planvote pendingper the debtor | Re-Amended Proposal BLACKLINE · 26 Feb 2026 |
| Unsecured | — | — | conditional | Under the planvote pendingper the proposal trustee | Report of Trustee on Proposal · 15 Oct 2026 |
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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
Professional fees
$230K
As at 15 Oct 2026Report of Trustee on Proposal – dated October 15, 2026
The total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Notice of Hearing to Present the Proposal to the Court | PDF · Subscribers | |
Trustee’s Application to Court to Refuse Approval of the Debtor’s Re-amended Proposal – dated October 20, 2026
| PDF · Subscribers | |
Report of Trustee on Proposal – dated October 15, 2026
| PDF · Subscribers | |
Re-Amended Proposal BLACKLINE
| PDF · Subscribers | |
Re-Amended Proposal
| PDF · Subscribers | |
Notice of Adjournment of the Meeting of Creditors
| PDF · Subscribers | |
Registration Form to the Meeting of Creditors
| PDF · Subscribers | |
Notice of Adjournment of the Meeting of Creditors – dated November 25, 2025
| PDF · Subscribers | |
| Notice of Proposal to Creditors and Notice of Hearing of Application for Court Approval of Proposal | PDF · Subscribers | |
Report of the Proposal Trustee on the Financial Situation of the Debtor and on Amended Proposal
| PDF · Subscribers | |
Amended Proposal
| PDF · Subscribers | |
| Certificate Of Filing a Proposal | PDF · Subscribers | |
| Order (Fourth Extension of the Delay) | PDF · Subscribers | |
Debtor’s Fourth Application for extension of the delay to file a Proposal
| PDF · Subscribers | |
Sixth Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs
| PDF · Subscribers | |
| Order (Third Extension of delay to file a Proposal) | PDF · Subscribers | |
Debtor’s Third Application for extension of the delay to file a Proposal
| PDF · Subscribers | |
Fifth Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs
| PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Exhibit R-1-Amended Approval and Vesting Order
| PDF · Subscribers | |
Exhibit R-1-Appoval and Vesting Order
| PDF · Subscribers | |
| Amended Application for the issuance of a Sale Approval and Vesting Order | PDF · Subscribers | |
| Application for the issuance of a Sale Approval and Vesting Order | PDF · Subscribers | |
Exhibit R-7-Fourth Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs and the Proposed Sale of Assets
| PDF · Subscribers | |
Order (Second Extension of the Delay)
| PDF · Subscribers | |
| Debtor’s Second Application for Extension of the Delay to file a Proposal | PDF · Subscribers | |
| Exhibit R-5-Third Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs | PDF · Subscribers | |
| Third Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs | PDF · Subscribers | |
Order Extending the Delay to File a Proposal
| PDF · Subscribers | |
Debtor’s First Application for Extension of Delay to File a Proposal
| PDF · Subscribers | |
Second Report of the Proposal Trustee on the State of the Debtor’s Business and Financial Affairs
| PDF · Subscribers | |
Exhibit R-2-Interim Financing Order
| PDF · Subscribers | |
Exhibit R-3-Debtor Second Application for Extension of the Delay to File a Proposal
| PDF · Subscribers | |
| Exhibit R-6-Asset Purchase Agreement | PDF · Subscribers | |
Order
| PDF · Subscribers | |
First Report of the Proposal Trustee on the State of Petitioners’ Business and Financial Affaires dated April 30, 2025
| PDF · Subscribers | |
Notice to Creditors of Intention to Make a Proposal
| PDF · Subscribers | |
Application for an Order (1) Approving Interim Financing and Interim Financing Charge, and (2) Approving an Administration Charge
| PDF · Subscribers | |
| Certificate of Filing of a Notice of Intention to Make a Proposal | PDF · Subscribers | |
| Exhibit R-4-Stalking Horse Bid | PDF · Subscribers | |
| Proof of Claim – Form 31 | PDF · Subscribers | |
| Proxy – Form 36 | 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., “Mobi724 Global Solutions Inc.” (NOI), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/mobi724-global-solutions-inc