Snaile Inc.
Follow- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, section 101 of the Courts of Justice Act, R.S.O. 1990, c C.43, as amended, and section 248 of the Business Corporations Act (Ontario), R.S.O. 1990, c. B. 16
- File
- CL-26-00000236-0000
Snaile Inc. is the subject of an application filed May 22, 2026 in the Ontario Superior Court of Justice (Commercial List), under court file CL-26-00000236-0000. The filing follows a Demand Letter and Notice of Intention to Enforce Security dated May 1, 2026, issued by secured creditor Hemlock Point Capital Corp. Hemlock holds a General Security Agreement dated December 1, 2021, covering all of Snaile's present and after-acquired personal and real property, and a Vendor Take-Back Note with stated principal of $7,769,064.81 as of August 23, 2024, an obligation Snaile assumed upon its amalgamation with Smart Locker Ventures Inc. The balance outstanding at the time of the application is not stated in the record.
Notice of Application issued May 22, 2026, commencing the proceeding against Snaile Inc. in the Commercial List.
Filing brief
Snaile: a monitor without a CCAA
A lender applied to appoint a receiver. Before that was decided, it obtained something else on consent — Grant Thornton installed as "Monitor" under the Courts of Justice Act, the PPSA and the OBCA, with a set of injunctions freezing payments to insiders, protecting supplier and customer relationships, and requiring daily reporting on every dollar in and out. The company keeps running. Nobody takes possession.
Debtor
Snaile Inc.
Receiver
Doane Grant Thornton
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Myers | Ontario Superior Court of Justice | 2 orders, May 2026 | 103 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantHemlock Point Capital Corp | Fasken Martineau DuMoulin LLP | 29 May 2026 | Order · 29 May 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Hemlock Point Capital Corp.General Security Agreement dated December 1, 2021 (granted in favour of Hemlock, then named Portway International Inc.) creating a continuing security interest in all present and after-acquired personal and real property of Snaile; PPSA financing statement registered against Snaile in favour of Hemlock (PPSA search results current as of April 26, 2026) — Amount is the stated principal sum of the VTB Note dated August 23, 2024 between Smart Locker Ventures Inc. and Hemlock (due and payable February 23, 2025), which became Snaile's obligation upon Smart Locker's subsequent amalgamation with Snai · as of 23 Aug 2024 | $7.77M | Application Record dated May 22, 2026.pdf |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
| Date | Document | File |
|---|---|---|
| Service List as of August 25, 2026.docx | ||
| Aide Memoire returnable May 29, 2026.pdf | ||
Endorsement of Justice Myers dated May 29, 2026.pdf
| ||
| Factum returnable May 29, 2026.pdf | ||
Order of Justice Myers dated May 29, 2026.pdf
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Application Record dated May 22, 2026.pdf
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Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Snaile Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/snaile-inc