Sandvine Corporation, Sandvine Holdings UK Limited, Procera Networks, Inc., Procera Holding, Inc., New Procera GP Company and Sandvine OP (UK) Ltd.
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- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- CV-24-00730836-00CL
OverviewSummary updated
Sandvine Corporation, together with Sandvine Holdings UK Limited, Procera Networks, Inc., Procera Holding, Inc., New Procera GP Company and Sandvine OP (UK) Ltd., commenced CCAA proceedings on November 6, 2024 in the Ontario Superior Court of Justice (Commercial List) under court file CV-24-00730836-00CL, with KSV Restructuring Inc. as monitor. A preliminary unaudited creditor list submitted by the applicants, as at October 25, 2024, reports combined liabilities of USD 431,975,150.13 across the six entities, comprising secured claims of USD 431,800,008 and unsecured claims of USD 1,504,844. The secured total is attributed to Acquiom Agency Services LLC and Seaport Loan Products LLC as co-agents for consenting stakeholders. No claims procedure has been approved, and creditors are not required to file proofs of claim. The proceedings remain active.
Proceedings AIAsk this case — answers cite the filings
Case updates88 dated entries · 2 undated
#Report
Stay Extension and Approval of Monitor's Reports, Activities and Fees dated January 26, 2026 — Court officer report
85 earlier updates, back to 6 November 2024 — subscribers.
Undated filings2 — no date appears on the document · show
2 filings carry no date on their face — subscribers.
Parties
Debtor
Sandvine Corporation, Sandvine Holdings UK Limited, Procera Networks, Inc., Procera Holding, Inc., New Procera GP Company and Sandvine OP (UK) Ltd.
Monitor
AlixPartners
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Osborne | Ontario Superior Court of Justice | 7 orders, Nov 2024 – Jan 2025 | 146 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Jun 2025 | 220 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantSandvine Corporation, Sandvine Holdings UK Limited, Procera Networks, Inc., Procera Holding, Inc., New Procera GP Company and Sandvine OP (UK) Ltd. | Osler, Hoskin & Harcourt LLP | 7 Nov 2024 | Order · 7 Nov 2024 |
| Foreign representative | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 7 Nov 2024 | Application · 7 Nov 2024 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Acquiom Agency Services LLC and Seaport Loan Products LLC (as Co-Agents for Consenting Stakeholders)Listed as combined line item in creditor list totaling secured creditors of $431,800,008; two prior rows show component figures $95,000,000 and $336,800,000 which appear to be sub-components not separately confirmed - reported total used per rule 1 — debtor: Sandvine Corporation · as of 25 Oct 2024 | $432M USD | List of Creditors as at October 25, 2024 |
Sale processAs stated in the filings
3 transactions · 3 closed — The SISP was carried out in accordance with its terms and the Stalking Horse Transaction Agreement was determined to be the successful bid, and the Transactions closed on March 3, 2025.Fourth Report of the Monitor dated January 20, 2026 · 20 Jan 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Dune Parent LLCStalking horsethe applicable Sellers' right, title and interest in and to the applicable Purchased Assets · asset sale · nominee/assignee: entities to be formed or that have been formed in accordance with the Implementation Steps (collectively, the 'Purchasers') · agreement 18 Dec 2024 | Subscribers | Closed3 Mar 2025outside 21 Mar 2025 | Monitor's Certificate dated March 3, 2025 |
| the Consenting Stakeholders (or their designees)substantially all of the business and assets of Sandvine · asset sale | Subscribers | Closed3 Mar 2025 | Third Report of the Monitor dated June 20, 2025 |
| unnamedthe Transactions | not stated | Closed3 Mar 2025 | Fourth Report of the Monitor dated January 20,… |
AdvisorsGLC (financial advisor); GLC Advisors & Co., LLC and GLC Securities, LLC (financial advisor)Third Report of the Monitor dated June 20, 2025
Closing termsVesting occurs upon delivery of the Monitor's Certificate to each Seller and NewCo Parent, in the sequence and manner set out in the Implementation StepsSale Recognition Order dated February 12, 2025
Sealed materialsConfidential Exhibit 'B' to the Sellinger AffidavitAssignment, Approval and Vesting Order Dated January 30, 2025
RecoveriesAs stated in the filings
Unsecured creditors: no distribution.Under the planSecond Report of the Monitor · 24 Jan 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Lenders (Existing Loans) | — | a distribution | per the monitor | First Report of the Monitor · 12 Nov 2024 |
| Unsecured | general unsecured claims not assumed or retained | — | no distribution | Under the planper the monitor | Second Report of the Monitor · 24 Jan 2025 |
| Equity | general unsecured claims and existing equity interests in Procera GP and Procera LP | — | no distributionconditional | per the monitor | First Report of the Monitor · 12 Nov 2024 |
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
17 engagements · 3 firms — latest: Cassels Brock & Blackwell LLP, 1 Jun – 31 Dec 2025Fourth Report of the Monitor · 20 Jan 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| CasselsCounselfirm not named in the heading | 17 Oct – 27 Dec 2024 | — | ••• | ••• | Second Report of the Monitor · 24 Jan 2025 |
| Cassels Brock & Blackwell LLPCounsel to the monitorperiod 7 of 7 | 1 Jun – 31 Dec 2025 | — | — | •••6 people | Fourth Report of the Monitor · 20 Jan 2026 |
| Cassels Brock & Blackwell LLPCounsel to the monitorperiod 6 of 7 | 1 Jan – 31 May 2025 | — | — | •••13 people | Third Report of the Monitor · 20 Jun 2025 |
| Cassels Brock & Blackwell LLPCounsel to the monitorperiod 6 of 7 | to 31 May 2025 | ••• | ••• | •••5 people | Third Report of the Monitor · 20 Jun 2025 |
| Cassels Brock & Blackwell LLPCounsel to the monitorperiod 4 of 7 | to 30 Apr 2025 | ••• | ••• | •••3 people | Third Report of the Monitor · 20 Jun 2025 |
| Cassels Brock & Blackwell LLPCounsel to the monitorperiod 3 of 7 | to 31 Mar 2025 | ••• | ••• | •••4 people | Third Report of the Monitor · 20 Jun 2025 |
| Cassels Brock & Blackwell LLPCounsel to the monitorperiod 2 of 7 | to 28 Feb 2025 | ••• | ••• | •••8 people | Third Report of the Monitor · 20 Jun 2025 |
| Cassels Brock & Blackwell LLPCounsel to the monitorperiod 1 of 7 | 1 Jan – 31 Jan 2025 | ••• | ••• | •••11 people | Third Report of the Monitor · 20 Jun 2025 |
| KSV Restructuring Inc.Monitorperiod 9 of 9 | to 31 Dec 2025 | ••• | ••• | •••4 people | Fourth Report of the Monitor · 20 Jan 2026 |
| KSV Restructuring Inc.Monitorperiod 9 of 9 | 1 Jun – 31 Dec 2025 | — | — | ••• | Fourth Report of the Monitor · 20 Jan 2026 |
| KSV Restructuring Inc.Monitorperiod 7 of 9 | to 30 Nov 2025 | ••• | ••• | •••2 people | Fourth Report of the Monitor · 20 Jan 2026 |
| KSV Restructuring Inc.Monitorperiod 6 of 9 | to 31 Oct 2025 | ••• | ••• | •••4 people | Fourth Report of the Monitor · 20 Jan 2026 |
| KSV Restructuring Inc.Monitorperiod 5 of 9 | to 31 May 2025 | ••• | ••• | •••4 people | Third Report of the Monitor · 20 Jun 2025 |
| KSV Restructuring Inc.Monitorperiod 5 of 9 | 1 Jan – 31 May 2025 | — | — | ••• | Third Report of the Monitor · 20 Jun 2025 |
| KSV Restructuring Inc.Monitorperiod 3 of 9 | to 30 Apr 2025 | ••• | ••• | •••4 people | Third Report of the Monitor · 20 Jun 2025 |
| KSV Restructuring Inc.Monitorperiod 2 of 9 | to 20 Feb 2025 | ••• | ••• | •••3 people | Third Report of the Monitor · 20 Jun 2025 |
| KSV Restructuring Inc.Monitorperiod 1 of 9 | the Period | — | — | ••• | Second Report of the Monitor · 24 Jan 2025 |
Estate financialsReported figures — never derived
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Documents
90 filings
| Date | Document | File |
|---|---|---|
Endoresement of Justice Conway dated January 26, 2026
| PDF · Subscribers | |
Stay Extension and Approval of Monitor's Reports, Activities and Fees dated January 26, 2026
| PDF · Subscribers | |
| Factum of the Applicants dated January 21, 2026 | PDF · Subscribers | |
Fourth Report of the Monitor dated January 20, 2026
| PDF · Subscribers | |
| Motion Record of the Applicants dated January 19, 2026 | PDF · Subscribers | |
Endorsement of Justice Steele Dated June 25, 2025
| PDF · Subscribers | |
Stay Extension and Approval Order dated June 25, 2025
| PDF · Subscribers | |
| Factum of the Applicants dated June 20, 2025 | PDF · Subscribers | |
Third Report of the Monitor dated June 20, 2025
| PDF · Subscribers | |
| Motion Record of the Applicants dated June 16, 2025 | PDF · Subscribers | |
Chapter 15 Case Closure Order dated April 18, 2025
| PDF · Subscribers | |
| Certificate of no Objection Sandvine OP (UK) Ltd. Chapter 15 Case Closure Motion dated April 15 2025 | PDF · Subscribers | |
| Notice Issued on March 22, 2025 | PDF · Subscribers | |
| Notice of Sale dated March 4, 2025 | PDF · Subscribers | |
Monitor's Certificate dated March 3, 2025
| PDF · Subscribers | |
Administration Order dated February 12, 2025
| PDF · Subscribers | |
Sale Recognition Order dated February 12, 2025
| PDF · Subscribers | |
Assignment, Approval and Vesting Order Dated January 30, 2025
| PDF · Subscribers | |
Endorsement of Justice Osborne dated January 30, 2025
| PDF · Subscribers | |
Post Closing Administration Order dated January 30, 2025
| PDF · Subscribers | |
Supplement to the Second Report of the Monitor dated January 28, 2025
| PDF · Subscribers | |
| Supplemental Affidavit of Jeffrey A. Kupp dated January 28, 2025 | PDF · Subscribers | |
| Factum of the Applicants dated January 27, 2025 | PDF · Subscribers | |
Second Report of the Monitor dated January 24, 2025
| PDF · Subscribers | |
| Notice of Post-Closing Admin Hearing dated January 17, 2025 | PDF · Subscribers | |
| Notice of Sale Hearing dated January 17, 2025 | PDF · Subscribers | |
| Declaration of Jeffrey A. Kupp dated January 16, 2025 | PDF · Subscribers | |
| Declaration of Michael J. Sellinger dated January 16, 2025 | PDF · Subscribers | |
| Motion Record of the Applicants dated January 16, 2025 | PDF · Subscribers | |
| Post-Closing Admin Motion dated January 16, 2025 | PDF · Subscribers | |
| Sale Recognition Motion dated January 16, 2025 | PDF · Subscribers | |
| Service List - As at January 16, 2025 | PDF · Subscribers | |
| Recognition Order dated December 3, 2024 | PDF · Subscribers | |
| Certificate of No Objection to the Verified Petition dated December 2, 2024 | PDF · Subscribers | |
| Supplement to the Verified Petition For Entry of an Order Recognizing Foreign Main Proceedings dated December 2, 2024 | PDF · Subscribers | |
| Supplemental Declaration of Jeffrey A. Kupp in Support of the Verified Petition dated December 2, 2024 | PDF · Subscribers | |
| Notice of Filing dated November 18, 2024 | PDF · Subscribers | |
| Amended and Restated Initial Order dated November 15, 2024 | PDF · Subscribers | |
| BNC certificate of mailing Dated November 15, 2024 - Order granting motion to appear pro hac vice adding Jonathan I. Levine for Acquiom Agency Services LLC | PDF · Subscribers | |
| BNC certificate of mailing Dated November 15, 2024 - Order granting motion to appear pro hac vice adding Lucas B Barrett for Acquiom Agency Services LLC | PDF · Subscribers | |
Endorsement of Justice Osborne dated November 15, 2024
| PDF · Subscribers | |
SISP Approval Order dated November 15, 2024
| PDF · Subscribers | |
| BNC certificate of mailing Dated November 14, 2024 - Order granting motion to appear pro hac vice adding Claudia R. Tobler for Foreign Representative Sandvine Corpor | PDF · Subscribers | |
| BNC certificate of mailing Dated November 14, 2024 - Order granting motion to appear pro hac vice adding Claudia R. Tobler for Foreign Representative Sandvine Corporation | PDF · Subscribers | |
| BNC certificate of mailing Dated November 14, 2024 - Order granting motion to appear pro hac vice adding Robert A. Britton for Foreign Representative Sandvine Corporation | PDF · Subscribers | |
| Factum of the Applications dated November 13, 2024 | PDF · Subscribers | |
| CCAA Notice to Creditors dated November 12, 2024 | PDF · Subscribers | |
First Report of the Monitor dated November 12, 2024
| PDF · Subscribers | |
| Motion Record of the Applicants dated November 12, 2024 | PDF · Subscribers | |
| Request for transcript regarding a hearing held on 11.7.2024 Dated November 12, 2024 | PDF · Subscribers | |
| Jonathan Levine Pro Hac Vice Motion Dated November 11, 2024 | PDF · Subscribers | |
| Lucas B. Barrett Pro Hac Vice Motion Dated November 11, 2024 | PDF · Subscribers | |
| Notice of Appearance and Request for Notice by Marcus Alan Helt filed by Interested Party Acquiom Agency Services LLC Dated November 11, 2024 | PDF · Subscribers | |
| BNC certificate of mailing dated November 8, 2024 | PDF · Subscribers | |
| Claudia Tobler Pro Hac Vice Order dated November 8, 2024 | PDF · Subscribers | |
| Robert Britton Pro Hac Vice Order dated November 8, 2024 | PDF · Subscribers | |
| Xu Pang Pro Hac Vice Order dated November 8, 2024 | PDF · Subscribers | |
Agenda for the First Day Hearing dated November 7, 2024
| PDF · Subscribers | |
Amended Witness and Exhibit List dated November 7, 2024
| PDF · Subscribers | |
| Certificate of service dated November 7, 2024 | PDF · Subscribers | |
| Chapter 15 Petition for Recognition of Foreign Proceeding dated November 7, 2024 | PDF · Subscribers | |
| Claudia R. Tobler Pro Hac Vice Motion dated November 7, 2024 | PDF · Subscribers | |
Complex Case Order dated November 7, 2024
| PDF · Subscribers | |
| Court admitted exhibits dated November 7, 2024 | PDF · Subscribers | |
| Declaration of Jeffrey A. Kupp dated November 7, 2024 | PDF · Subscribers | |
| Declaration of Karin Sachar dated November 7, 2024 | PDF · Subscribers | |
Endorsement of Justice Osborne dated November 7, 2024
| PDF · Subscribers | |
Initial Order date November 7, 2024
| PDF · Subscribers | |
Joint Admin Motion dated November 7, 2024
| PDF · Subscribers | |
Joint Admin Order dated November 7, 2024
| PDF · Subscribers | |
| Notice of Commencement of Chapter 15 Case For Recognition of a Foreign Proceeding dated November 7, 2024 | PDF · Subscribers | |
| Notice of Designation of Complex Bankruptcy Cases dated November 7, 2024 | PDF · Subscribers | |
Notice of Filing of (I) Initial Order and (II) Endorsement in the CCAA Proceedings dated November 7, 2024
| PDF · Subscribers | |
| Notice of Recognition Hearing dated November 7, 2024 | PDF · Subscribers | |
| PDF with attached Audio File dated November 7, 2024 | PDF · Subscribers | |
| Provisional Relief Motion dated November 7, 2024 | PDF · Subscribers | |
| Provisional Relief Order dated November 7, 2024 | PDF · Subscribers | |
| Robert Britton Pro Hac Vice Motion dated November 7, 2024 | PDF · Subscribers | |
Scheduling and Notice Motion dated November 7, 2024
| PDF · Subscribers | |
Scheduling and Notice Order dated November 7, 2024
| PDF · Subscribers | |
| Verified Petition For Entry of an Order Recognizing Foreign Main Proceedings dated November 7, 2024 | PDF · Subscribers | |
| Witness and Exhibit List dated November 7, 2024 | PDF · Subscribers | |
| Xu Pang Pro Hac Vice Motion dated November 7, 2024 | PDF · Subscribers | |
Application Record of the Applicants dated November 6, 2024
| PDF · Subscribers | |
| Factum of the Applicants dated November 6, 2024 | PDF · Subscribers | |
| Pre-Filing Report of the Proposed Monitor dated November 6, 2024 | PDF · Subscribers | |
List of Creditors as at October 25, 2024
| PDF · Subscribers | |
| Notice of Filing dated September 18, 2024 | PDF · Subscribers | |
| Final Report and Case Closing Motion for Sandvine OP (UK) Ltd. | PDF · Subscribers | |
| Notice of deficiency. Chapter 15 Service List due 11.21.2024 | 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., “Sandvine Corporation, Sandvine Holdings UK Limited, Procera Networks, Inc., Procera Holding, Inc., New Procera GP Company and Sandvine OP (UK) Ltd.” (CCAA), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/sandvine-corporation-sandvine-holdings-uk-limited-procera-networks-inc-procera-h