#Report
A court officer's report set the date of bankruptcy as December 29, 2025.
Source: Certificate of Appointment.pdf
Stewart’s Vertical Farms Inc.
FollowActive
- Proceeding
- NOIsubsection 50.4 (1) of the Bankruptcy and Insolvency Act
- File
- BK-25-03241528-0031
Filings held31
Last activity29 Dec 2025
On the record451 days
Secured debt$2.06M
OverviewSummary updated
Stewart's Vertical Farms Inc. filed a notice of intention to make a proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act on June 27, 2025, with Grant Thornton Limited acting as the licensed insolvency trustee, in the Ontario Superior Court of Justice, Commercial List, under court file BK-25-03241528-0031. A court officer's report subsequently set the date of bankruptcy as December 29, 2025.
Proceedings AIAsk this case — answers cite the filings
Case updates31 dated entries · 1 undated
#Sale
Approval and Reverse Vesting Order of Justice Dietrich dated December 19, 2025.pdf — Reverse vesting order
#Filing
Motion Record of Stewart's Vertical Farms Inc. returnable December 19, 2025.pdf — Application / notice of application
#Filing
Motion Record of Stewart's Vertical Farms Inc returnable December 9, 2025.pdf — Application / notice of application
#Filing
Motion Record of Stewart's Vertical Farmc Inc Returnable October 24, 2025.pdf — Application / notice of application
#Filing
Supplemental Motion Record of Stewart's Vertical Farm Inc Returnable October 24, 2025.pdf — Application / notice of application
#Filing
Motion Record of Stewart's Vertical Farms Inc Returnable September 10, 2025.pdf — Application / notice of application
#Filing
Motion Record of Stewart's Vertical Farms Inc Returnable July 18, 2025.pdf — Application / notice of application
#Filing
Stewart's Vertical Farms Inc. filed a notice of intention to make a proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act, with Grant Thornton Limited as trustee.
Source: Certificate for the Notice of Intention to Make a Proposal dated June 27, 2025.pdf
Undated filings1 — no date appears on the document · show
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Parties
Debtor
Stewart’s Vertical Farms Inc.
Proposal trustee
Doane Grant Thornton
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 4 orders, Jul 2025 – Dec 2025 | 220 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 3 orders, Oct 2025 | 288 cases on record |
| Justice Dietrich | Ontario Superior Court of Justice | 2 orders, Dec 2025 | 109 cases on record |
| Justice Dietrich | Ontario Superior Court of Justice | 2 orders, Sep 2025 | 89 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorStewart's Vertical Farms Inc | Reconstruct LLP | 21 Jul 2025 | Factum · 21 Jul 2025 |
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Factors Western Inc. (FWI) · in 6 casesAll present and after-acquired personal property (PPSA); mortgage on the Facility — Owed pursuant to promissory notes dated June 29, 2021 and August 1, 2022; also listed as 'Due to Factoring Partner' $2,060,000.00 on 2025 draft balance sheet — debtor: Stewart's Vertical Farms Inc. · as of 27 Jun 2025 | $2.06M | Motion Record of Stewart's Vertical Farmc Inc Returnable October 24, 2025.pdf |
| 4 | Secured | 2754318 Alberta Ltd. (DIP Lender)as of DIP Term Sheet dated October 16, 2025 — DIP Lender's Charge (super-priority) over all Property, subordinate only to Administration Charge, maximum principal $1,500,000 plus fees/interest — Post-filing DIP financing (not pre-filing debt); DIP Lender related to CEO Tanner Stewart and Birpal Aulakh, principal of 1577474 Alberta Ltd.; DIP Lender's Charge does not secure pre-NOI obligations — debtor: Stewart's Vertical Farms Inc. | $1.5M | Motion Record of Stewart's Vertical Farmc Inc Returnable October 24, 2025.pdf |
| 4 | Secured | 2061648 Alberta Inc. (206 Co.)Mortgage/charge; personal guarantee from Tanner Stewart; PPSA security interest registered December 4, 2023 — In respect of purchase order factoring arrangements; collateral mortgage dated December 5, 2023 — debtor: Stewart's Vertical Farms Inc. · as of 27 Jun 2025 | $600K | Motion Record of Stewart's Vertical Farmc Inc Returnable October 24, 2025.pdf |
| 4 | Secured | 1577474 Alberta Ltd.Mortgage over the Facility; all present and after-acquired personal property (PPSA); personal guarantee from Tanner Stewart — SVF's largest secured creditor per affidavit; principal Birpal Aulakh related to DIP Lender; two term loan agreements dated July 27, 2020 and October 15, 2020; prose in Notice of Motion/affidavit describes DIP Lender as related to principal of largest secured creditor — debtor: Stewart's Vertical Farms Inc. · as of 27 Jun 2025 | $382K | Motion Record of Stewart's Vertical Farmc Inc Returnable October 24, 2025.pdf |
| 4 | Secured | Brian ClarkPPSA registration (New Brunswick) — Discharged/repaid in full per affiant's understanding - no amounts outstanding on this registration — debtor: Stewart's Vertical Farms Inc. · as of 27 Jun 2025 | $0 | Motion Record of Stewart's Vertical Farmc Inc Returnable October 24, 2025.pdf |
| 8 | Unsecured | Unsecured creditors (aggregate as reported in List of Creditors) · in 532 casesas of NOI filing date — Amount is exclusive of approximately $2.6 million owed to CRA (deemed trust, reported separately above); document does not itemize individual creditor names on the pages provided; mirrors liabilities in 2025 draft balance sheet (Accounts Payable, Payroll Liabilities) — debtor: Stewart's Vertical Farms Inc. | $5.65M | Motion Record of Stewart's Vertical Farmc Inc Returnable October 24, 2025.pdf |
| 8 | Unsecured | Canada Revenue Agency (CRA) · in 926 casesas of NOI filing date — Deemed trust class claim (source deductions/excise tax/GST/HST); excluded from the $5,651,877.37 List of Creditors figure per footnote — debtor: Stewart's Vertical Farms Inc. | $2.6M | Motion Record of Stewart's Vertical Farmc Inc Returnable October 24, 2025.pdf |
Sale processAs stated in the filings
Sale approved — The Court approved the Subscription Agreement and the Transaction contemplated therein, a reverse vesting order transferring the Subscribed Shares to the Purchaser and Excluded Assets/Liabilities to ResidualCoApproval and Reverse Vesting Order of Justice Dietrich dated December… · 19 Dec 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 2754318 Alberta Ltd.all of the right, title and interest in and to the Subscribed Shares · share subscription · ResidualCo: 1001440340 Ontario Inc. · agreement 5 Dec 2025 | not stated | Closeddate not statedoutside 24 Dec 2025 | Proposal Trustee's Transaction Closing… |
AdvisorsGrant Thornton Limited (sale agent)Teaser Stewart's Vertical Farms Inc.pdf
Closing termsClosing occurs upon delivery of the Proposal Trustee's Certificate at the Effective Time, in the sequence set out in the Subscription Agreement (Closing Sequence)Approval and Reverse Vesting Order of Justice Dietrich dated December…
RecoveriesAs stated in the filings
Unsecured creditors: shortfall.EstimatedMotion Record of Stewart's Vertical Farms Inc. returnable December 19,… · 19 Dec 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | shortfall | Estimatedper the debtor | Motion Record of Stewart's Vertical Farms Inc. returnable December 19,… · 19 Dec 2025 |
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.
Estate financialsReported figures — never derived
Total assets at filing$8.29M
Total liabilities at filing$7.98M
As at 26 Jun 2025 · per draft unaudited balance sheet ('2025 BS') · entity - Stewart's Vertical Farms Inc. — Assets exceed liabilities by approximately $535,018.43 per affiant; primary assets: Chequing/Savings $241,470.75, Accounts Receivable $516,035.18, Inventory $1,233,769.59, Equipment $1,027,037.27, Building/Property $4,089,636.72; primary liabilities: Accounts Payable $1,395,797.11, Payroll Liabilities $2,024,058.36, Due to Factoring Partner $2,060,000.00, Due to Director $1,319,355.14 (related party)
Documents
31 filings
| Date | Document | File |
|---|---|---|
Certificate of Appointment.pdf
| ||
Ancillary Order of Justice Dietrich dated December 19, 2025.pdf
| ||
Approval and Reverse Vesting Order of Justice Dietrich dated December 19, 2025.pdf
| ||
Endorsement of Justice Dietrich dated December 19, 2025.pdf
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Motion Record of Stewart's Vertical Farms Inc. returnable December 19, 2025.pdf
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| Factum of Stewart's Vertical Farms Inc. dated December 17, 2025.pdf | ||
Endorsement of Justice Steele dated December 9, 2025.pdf
| ||
| Motion Record of Stewart's Vertical Farms Inc returnable December 9, 2025.pdf | ||
Stay Extension Order of Justice Steele dated December 9, 2025.pdf
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SISP Approval Order dated October 27, 2025.pdf
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Teaser Stewart's Vertical Farms Inc.pdf
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Endorsement of Justice Cavanagh dated October 24, 2025.pdf
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Motion Record of Stewart's Vertical Farmc Inc Returnable October 24, 2025.pdf
| ||
| Responding Record Returnable October 24, 2025.pdf | ||
| SISP Procedures.pdf | ||
Stay Extension Order dated October 24, 2025.pdf
| ||
Supplemental Motion Record of Stewart's Vertical Farm Inc Returnable October 24, 2025.pdf
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| Factum of Stewart's Vertical Farms Inc. dated October 22, 2025.pdf | ||
Endorsement of Justice J.Dietrich dated September 10, 2025.pdf
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Motion Record of Stewart's Vertical Farms Inc Returnable September 10, 2025.pdf
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Stay Extension Order dated September 10, 2025.pdf
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Factum of Stewart's Vertical Farms Inc. dated September 5, 2025.pdf
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Endorsement of Justice Steele dated July 24, 2025.pdf
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| Service List as of July 24, 2025.docx | ||
Stay Extension Order dated July 24, 2025.pdf
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Factum of Stewart's Vertical Farms Inc. dated July 21, 2025.pdf
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| Motion Record of Stewart's Vertical Farms Inc Returnable July 18, 2025.pdf | Trustee site | |
Certificate for the Notice of Intention to Make a Proposal dated June 27, 2025.pdf
| ||
| Confidentiality and Non-Disclosure Agreement.pdf | ||
Proposal Trustee's Transaction Closing Certificate.pdf
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| SISP Acknowledgement.pdf | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Stewart’s Vertical Farms Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/stewart-s-vertical-farms-inc