Perativ General Partnership, Perativ Holdings Limited, Perativ Solutions Inc., Perativ Partnerco Limited and Saratoga ATM Armored Services Inc
- Proceeding
- CCAASections 4, 5, 11 and ff. of the Companies' Creditors Arrangement Act
- File
- 500-11-062549-239
- Industry
- Financial services · Payments, FX & fintech
Perativ General Partnership, together with Perativ Holdings Limited, Perativ Solutions Inc., Perativ Partnerco Limited and Saratoga ATM Armored Services Inc, has been under Companies' Creditors Arrangement Act protection in the Superior Court of Québec since July 3, 2023, and the proceedings remain active. A creditors list as at that date shows secured claims against Perativ General Partnership and Perativ Holding Limited of US$44,131,245 owing to AF Realizations S.A.R.L, $30,196,355 to Bank of Montreal and $6,459,948 to the Business Development Bank of Canada. The largest unsecured claims against the partnership are US$2,156,170 owing to Nautilus Hyosung America Inc, $748,815 to GardaWorld Cash Services Canada Corporation and $282,141 to Brink's Canada Limited, alongside several hundred smaller trade, utility, professional and employee-related claims.
The court granted an approval and vesting order for the sale to 15107741 Canada Inc. Closing terms, as extracted: Vesting occurs upon issuance of the Monitor Closing Certificate. Sealed: Exhibits P-2, P-4 and P-6 filed in support of the Application, and Appendix A and B of the Report.
The court granted an approval and vesting order for the sale to 15107784 Canada Inc. Closing terms, as extracted: Vesting occurs upon issuance of the Monitor Closing Certificate, once the Purchase Agreement has been executed and delivered, the Purchase Price paid, and all conditions satisfied or waived. Sealed: Exhibits P-2, P-4 and P-6 filed in support of the Application, and Appendix A and B of the Report.
Source: Approval and Vesting Order of Perativ Solutions Inc. Assets
Judgment on the Issuance of Approval and Vesting Orders and of Second Amended and Restated Initial Order — Amended and restated initial order
Application for the Issuance of Approval and Vesting Orders and of Second Amended and Restated Initial Order — Amended and restated initial order
Second Report of the Monitor on the Business and Financial Affairs of the Debtor Companies — Court officer report
Amended Application for the Issuance of an Initial Order and an Amended and Restated Initial Order — Amended and restated initial order
First Report of the Monitor on the Business and Financial Affairs of the Debtor Companies — Court officer report
Application for the Issuance of an Initial Order and an Amended and Restated Initial Order — Amended and restated initial order
Debtor
Perativ General Partnership, Perativ Holdings Limited, Perativ Solutions Inc., Perativ Partnerco Limited and Saratoga ATM Armored Services Inc
Monitor
PwC
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Sheehan | Superior Court of Québec | 3 orders, Aug 2023 | 14 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantPerativ General Partnership, Perativ Holdings Limited, Perativ Solutions Inc., Perativ Partnerco Limited and Saratoga ATM Armored Services Inc | Borden Ladner Gervais LLP | 13 Jul 2023 | Order · 13 Jul 2023 |
| CreditorAF Realizations S.à r.l., a Luxembourg subsidiary of Sandton Capital Solutions Master Fund V, LP | Cassels Brock & Blackwell LLP | 24 Aug 2023 | Service list · 24 Aug 2023 |
| CreditorCanadian Imperial Bank of Commerce (CIBC) | Norton Rose Fulbright Canada LLP | 24 Aug 2023 | Service list · 24 Aug 2023 |
| CreditorE.R. Fox Developments Ltd. ('Fox') | MLT Aikins LLP | 24 Aug 2023 | Service list · 24 Aug 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | AF REALIZATIONS S.A.R.LFrom Creditors List as at July 3, 2023; address in USA, amount currency not explicitly confirmed as CAD or USD in document, listed with other CAD amounts in same total — debtor: Perativ General Partnership/Perativ Holding Limited · as of 3 Jul 2023 | $44.1M USD | Creditors List |
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
122 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans2 transactions · 2 approved — the ATM Transaction is hereby approvedApproval and Vesting Order of Perativ General Partnership, Perativ… · 28 Aug 2023
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 15107741 Canada Inc.the assets described at section 1.1.66 of the ATM APA (the "ATM Assets") · asset sale | Sealed | Approved28 Aug 2023 | Approval and Vesting Order of Perativ General… |
| 15107784 Canada Inc.the assets described at section 1.1.61 of the Solutions APA (the "Solutions Assets") · asset sale | Sealed | Approved28 Aug 2023 | Approval and Vesting Order of Perativ Solutions… |
As at ·
The 2 totals 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 bankruptcy and first meeting of creditors
| PDF · Subscribers | |
Approval and Vesting Order of Perativ General Partnership, Perativ Holdings Limited, Perativ Partnerco Limited and Saratoga ATM Armored Services Inc. Assets
| PDF · Subscribers | |
Approval and Vesting Order of Perativ Solutions Inc. Assets
| PDF · Subscribers | |
Judgment on the Issuance of Approval and Vesting Orders and of Second Amended and Restated Initial Order
| PDF · Subscribers | |
| Second Amended and Restated Initial Order | PDF · Subscribers | |
| Application for the Issuance of Approval and Vesting Orders and of Second Amended and Restated Initial Order | PDF · Subscribers | |
Second Report of the Monitor on the Business and Financial Affairs of the Debtor Companies
| PDF · Subscribers | |
Service list
| PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
Amended Application for the Issuance of an Initial Order and an Amended and Restated Initial Order
| PDF · Subscribers | |
| First Report of the Monitor on the Business and Financial Affairs of the Debtor Companies | PDF · Subscribers | |
Notice to creditors of the Initial Order
| PDF · Subscribers | |
Creditors List
| PDF · Subscribers | |
First Initial Order
| PDF · Subscribers | |
Application for the Issuance of an Initial Order and an Amended and Restated Initial Order
| PDF · Subscribers | |
| Report of the Proposed Monitor on the Business and Financial Affairs of the Debtor Companies | 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., “Perativ General Partnership, Perativ Holdings Limited, Perativ Solutions Inc., Perativ Partnerco Limited and Saratoga ATM Armored Services Inc” (CCAA), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/perativ-general-partnership-perativ-holdings-limited-perativ-solutions-inc-perat