SM Group
- Proceeding
- CCAACOMPANIES' CREDITORS ARRANGEMENT ACT, RSC 1985, C C-36, AS AMENDED
- File
- 500-11-055122-184
SM Group has been under insolvency proceedings in the Superior Court of Québec (Commercial Division) since August 24, 2018, under court file no. 500-11-055122-184, with a monitor as the officer appointed in the matter. The proceedings remain active. Six creditors are identified as secured on the creditor mailing list: the Agence du revenu du Québec and the Canada Revenue Agency's Montréal tax services office, both tax authorities asserting deemed trust claims; Alaris Royalty Corp.; Integrated Private Debt Fund V LP; Investissement Québec; and RBC Equipement Financing. No amounts are attributed to any of those claims on the list.
A claims procedure has been established — see the order for deadlines.
Per the CRO Claims Process Order dated 12 November 2018.
The officer filed report no. Eighth Report. Substantially all business operations of the Vendors are now conducted by the Purchaser (FNX-Innov) following the earlier asset sale, and the CCAA Parties are no longer collecting accounts receivable; remaining activity involves monitoring, monetizing residual assets (e.g., life insurance policies), and pursuing litigation such as the City of Montreal appeal.
Source: Eighth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
The court granted an approval and vesting order for the sale to 11794173 Canada Inc. Closing terms, as extracted: Vesting occurs upon issuance of the Monitor's Certificate, following execution of the Offer/asset purchase agreement, payment of the Purchase Price, and satisfaction/waiver of closing conditions. Sealed: the Offer.
Source: Approval and Vesting Order
The officer filed report no. Seventh Report.
Source: Seventh Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
Motion for the Issuance of an Approval and Vesting Order — Application / notice of application
The officer filed report no. Sixth Report. The CCAA Parties are no longer operating or collecting accounts receivable, as substantially all business operations of the Vendors are now performed by the Purchaser (FNX-Innov), with the Monitor focused on implementing the Transaction, resolving disputes, and monetizing remaining assets.
Source: Sixth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
Joint Application for an Assignment and Extension Order — Application / notice of application
The officer filed report no. Fifth Report. Substantially all business operations of the Vendors have transitioned to the Purchaser (FNXInnov), with the CCAA Parties no longer collecting accounts receivable and the Monitor focused on completing post-closing assignments, resolving oppositions, and monetizing remaining assets such as tax credits, claims, and a receivable.
Source: Fifth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
The officer filed report no. Fourth Report. The Company completed the sale of substantially all its assets under the APA, closed in escrow and released, is undertaking an extensive process of assigning approximately 2,000 contracts to the Purchaser, and continues limited operations with reduced headcount (from ~700 to ~650 employees) during the transition period.
Source: Fourth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
Joint Application to Assign Agreements and to Extend the Stay Period — Application / notice of application
Application for Declaratory Judgment of amounts due from City of Montreal — Application / notice of application
The court granted an approval and vesting order for the sale to Une vente d'actifs provenant de certaines entités faisant partie du Groupe SM à l'acquéreur Thornhill. Sealed: Purchase Agreements.
Source: Approval, Vesting, Distribution and priority charges Order
The court appointed Deloitte Restructuring Inc. as receiver, on the application of Alaris Royalty Corp. and Integrated Private Debt Fund V LP. Court file 500-11-055122-184.
Source: Order appointing a Receiver
The officer filed report no. Third Report. The Company's operations have generally continued in the normal course with the CRO and Monitor negotiating supplier credit terms, managing customer relations, and laying off 28 employees, while pursuing a sale of substantially all assets to Thornhill under an Asset Purchase Agreement.
Source: Third Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
Notice of Postponement of the SISP Commencement Date & Bid Deadline — Stakeholder communication
The officer filed report no. Second Report. The Company's operations have generally continued in the normal course under the CRO's direction, with efforts focused on stabilizing customer and supplier relationships, retaining employees, and progressing a sale/investment solicitation process, while facing regulatory scrutiny from the AMF and an ongoing forensic investigation into prior related-party transactions.
Source: Second Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
Joint Application to Extend and Modify the Innitial Order and to Approve a Sale and Investment Solicitation Process — Application / notice of application
Initial order issued by the Superior Court of Québec, Commercial Division, opening the proceedings against SM Group under court file 500-11-055122-184.
Source: Initial Order
Undated filings1 — no date appears on the document · show
Debtor
SM Group
Monitor
Deloitte
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Corriveau | Superior Court of Québec | 10 orders, Sep 2018 – Jul 2019 | 12 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantAlaris Royalty Corp | McCarthy Tétrault LLP | 17 Sep 2018 | Application · 17 Sep 2018 |
| ApplicantIntegrated Private Debt Fund V LP M tre Kyla Mahar M tre Michel Laroche | Miller Thomson LLP | 17 Sep 2018 | Application · 17 Sep 2018 |
| CreditorIntegrated Private Debt Fund V LP | Miller Thomson LLP | 28 Sep 2018 | Judgment (Joint Application for · 28 Sep 2018 |
| CreditorIntegrated Private Debt Fund V LP M tre Kyla Mahar M tre Michel Laroche | Miller Thomson LLP | 23 Aug 2018 | Application · 23 Aug 2018 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | ARC - Bureau des services fiscaux de Montréal · in 12 casesListed as 'Secured' creditor type (CRA regional office); no amount stated; deemed trust/tax authority | — | Creditor List |
| 3 | Deemed trusts (CRA and other) | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
5 more claims in 2 classes The stack holds Deemed trusts (CRA and other) and Secured claims.
Every creditor and every amount.
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See all plans“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
6 transactions · 3 closed · 2 approved · 1 proposed — Monitor recommends Court approve the Proposed Transaction with Eddy Savoie for the Life Insurance PoliciesSeventh Report to the Court submitted by Deloitte Restructuring Inc. in… · 4 Jun 2019
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Purchaser entity named only in schedule (Thornhill-related numbered companies); operative text refers to 'the acquéreur Thornhill' without naming the exact contracting entitiesUne vente d'actifs provenant de certaines entités faisant partie du Groupe SM à l'acquéreur Thornhill · asset sale | Subscribers | Approved12 Nov 2018 | Approval, Vesting, Distribution and priority… |
| Thornhillsubstantially all of the assets used in the operation of the Business · asset sale · agreement 13 Oct 2018 | not stated | Closed16 Nov 2018 | Fourth Report to the Court submitted by… |
| Eddy SavoieSM Group's rights under and pursuant to ten (10) life insurance policies (the ' Life Insurance Policies ') · auction | Subscribers | Proposed | Seventh Report to the Court submitted by… |
| 11794173 Canada Inc.the rights of The S.M. Group Inc. (the "SM Group") under and pursuant to the insurance policies described in Schedule "A" hereto (the "Purchased Assets") · asset sale · agreement 9 May 2019 | Sealed | Approved19 Jul 2019 | Approval and Vesting Order |
| 11017870 Canada Inc. (now known as FNX-INNOV Inc.), Thornhill G.P. and 11054953 Canada Inc.substantially all of the assets of the Vendors with the exception of certain excluded Assets · asset sale · agreement 31 Oct 2018 | Subscribers | Closeddate not stated | Eighth Report to the Court submitted by… |
| 11521446 Canada Inc.substantially all of the SM Group Inc.'s rights under and pursuant to seven (7) life insurance policies · asset sale · agreement 26 Jul 2019 | not stated | Closed6 Nov 2019 | Eighth Report to the Court submitted by… |
Cumulative receipts
$1.36M
As at 11 Nov 2019Eighth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
Cumulative disbursements
As at
Cash on hand
As at
Professional fees
As at
3 more reported figures
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Extention and Settlement Approval Order | PDF · Subscribers | |
Eighth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
| PDF · Subscribers | |
| Joint Application for an Extension and Approval Order | PDF · Subscribers | |
Approval and Vesting Order
| PDF · Subscribers | |
Seventh Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
| PDF · Subscribers | |
Motion for the Issuance of an Approval and Vesting Order
| PDF · Subscribers | |
Assignment and Extension Order
| PDF · Subscribers | |
Sixth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
| PDF · Subscribers | |
| Joint Application for an Assignment and Extension Order | PDF · Subscribers | |
| Joint Application to Extend the Stay Period | PDF · Subscribers | |
Order on the Application to Extend the Stay Period
| PDF · Subscribers | |
Fifth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
| PDF · Subscribers | |
Declaratory Judgment of amounts due from City of Montreal
| PDF · Subscribers | |
Creditor List
| PDF · Subscribers | |
Order on the Second Application to Assign Agreements
| PDF · Subscribers | |
| Order on the Application to Assign Agreements and to Extend the Stay Period | PDF · Subscribers | |
Fourth Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
| PDF · Subscribers | |
| Joint Application to Assign Agreements and to Extend the Stay Period | PDF · Subscribers | |
| Application for Declaratory Judgment of amounts due from City of Montreal | PDF · Subscribers | |
| Application to Approve and Implement a Transition | PDF · Subscribers | |
Approval, Vesting, Distribution and priority charges Order
| PDF · Subscribers | |
CRO Claims Process Order
| PDF · Subscribers | |
| Creditors' Instructions and Proof of Claim Form | PDF · Subscribers | |
Order appointing a Receiver
| PDF · Subscribers | |
Third Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
| PDF · Subscribers | |
Judgment (Joint Application for Directions with regards to DAS)
| PDF · Subscribers | |
| Notice of Postponement of the SISP Commencement Date & Bid Deadline | PDF · Subscribers | |
Order (additional powers of the Chief Restructuring Officer)
| PDF · Subscribers | |
Order Extending and Amending the Initial Order and Approving a Sale and Investment Solicitation Process
| PDF · Subscribers | |
Second Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as Monitor
| PDF · Subscribers | |
Joint Application to Extend and Modify the Innitial Order and to Approve a Sale and Investment Solicitation Process
| PDF · Subscribers | |
| List of Exhibits | PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
| Employee Q&As - CCAA Filing | PDF · Subscribers | |
| First Report to the Court submitted by Deloitte Restructuring Inc. in its Capacity as proposed Monitor | PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
| Supplier Q&As - CCAA Filing | PDF · Subscribers | |
Joint Application for an Initial Order
| PDF · Subscribers | |
| Service Lists | 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., “SM Group” (CCAA), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/sm-group