The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc.
- Proceeding
- CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
- File
- CL-26-00000122-0000
- Industry
- Cannabis · Cannabis producers
The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc. commenced CCAA proceedings in Ontario on March 24, 2026, a day after entering into a Support Agreement dated March 23, 2026 with Senior Noteholders holding more than 60% of the principal amount of notes outstanding. As co-issuers under an amended and restated trust indenture dated May 29, 2025, the companies owed Senior Noteholders US$178,993,000 as at February 13, 2026, reduced by a $97 million repayment that day from Virginia Transaction proceeds; the noteholders are described as the fulcrum creditor and are not expected to recover in full. East West Bank held US$40,422,607 as at December 31, 2025, secured by mortgages in New York, New Jersey and Maryland. A disputed IRS claim of US$89,336,921, secured by a September 2024 federal tax lien asserted under Section 280E, is not contemplated to be paid during the proceeding.
Notice of Appearance - Sugarloaf Holdings LLC and Sugarloaf Enterprises LLC — Response / objection pleading
The officer filed report no. Fifth Report. The CC Group is winding down operations in markets without sufficient bidder interest, closing dispensaries, cultivation and manufacturing facilities, and returning leased premises to landlords, while pursuing going-concern sale transactions (Vireo and Maryland) for its remaining markets.
Source: Fifth Report of the Monitor
The officer filed report no. Fourth Report. The CC Group is winding down operations in certain markets while continuing to advance the Ohio and Remaining States sale transactions and the CCAA and Chapter 15 proceedings. It continues to use its Cash Management System, including bank accounts with East West Bank, and the report addresses an approved stipulation with EWB on the disposition of three mortgaged properties.
Source: Fourth Report of the Monitor
Application Record of The Cannabist Company Holdings Inc. et al, for the issuance of an initial order — Application / notice of application
The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc. — CCAA filed, Ontario.
Source: Initial Order
Case update
Cannabist: a section 11.3 motion for the consent Sugarloaf withheld
Cannabist's Maryland sale is conditional on Sugarloaf's consent, or a court order, to assign a Rockville dispensary's management agreement and a US$100 option to buy its licence holder. Sugarloaf refused on September 16 and 29 without written assurances from Maryland's regulator; the applicants' October 14 motion seeks a s. 11.3 CCAA order, return date not set.
Case update
Cannabist: two deeds in lieu, and a stay sought to March 2027
Since the August 18 sale approvals, the Ohio sale has closed, East West Bank has taken the group's New York and New Jersey properties by deed in full satisfaction of their mortgages, and US$26,603,510.88 has been released toward a partial redemption of the senior notes; FTI's Sixth Report supports a stay to March 31, 2027 and higher limits on sales of non-material assets, with that power extended to the subsidiaries, which a potential purchaser says it needs in order to close.
Case update
Cannabist: the orders go in, and the consent question goes away
A day after the founder of Cannabist's Maryland business swore that his companies could not consent to the assignment of their agreements, Justice Conway approved both sale transactions — $35 million for five states to Vireo, $13.75 million for Maryland to Free State Botanicals — and recorded that there was no opposition. The contracts were taken out of the argument, not out of the deal.
Case update
Cannabist: the consent that cannot be given
The Cannabist group asks the Ontario court on August 18 to approve the sale of its Maryland cannabis business. Among the assets going across is a management agreement and a purchase option over a dispensary — and the man who founded the business Cannabist bought in 2021 swore an affidavit the day before saying his companies cannot consent, because Maryland's regulator may now treat the structure itself as unlawful.
Debtor
The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc.
Monitor
FTI
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Dietrich | Ontario Superior Court of Justice | 10 orders, Mar 2026 – Aug 2026 | 132 cases on record |
| Justice Conway | Ontario Superior Court of Justice | 5 orders, Aug 2026 | 310 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantThe Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc. | Stikeman Elliott LLP | 24 Mar 2026 | Order · 24 Mar 2026 |
| CreditorAd Hoc Group of Senior Noteholders | Goodmans LLP | 15 May 2026 | Factum · 15 May 2026 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Senior Noteholders (holders of Senior Secured Notes and Senior Secured Convertible Notes issued under the A&R Indenture) · in 3 casesSenior secured notes (9.25% p.a., principal $166,262,000) and senior secured convertible notes (9.0% p.a., principal $12,731,000) issued under amended and restated trust indenture dated May 29, 2025; secured by Article 9 UCC collateral and pledge/security agreements dated May 29, 2025 — Balance reduced from prior amount after Feb 13, 2026 repayment of $97 million from Virginia Transaction proceeds; Senior Noteholders described as fulcrum creditor, not expected to recover in full; ~60% of noteholders (by value) are Supporting Noteholders under Support Agreement dated March 23, 2026; Millstreet · as of 13 Feb 2026 | $179M USD | Pre-Filing Report of the Proposed Monitor |
| Secured | |||
| Secured |
2 more claims in 1 class The stack holds Secured claims.
Every creditor and every amount, drawn to scale.
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See all plans13 transactions · 7 closed · 5 approved · 1 proposed — Sale Approval Order approving both the M&A Transaction and Real Estate TransactionSale Approval Order (Maryland) · 18 Aug 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| multiple third-party buyers of the Remaining States markets, unnameda sale of the CC Group's Colorado, Maryland, New Jersey, Illinois, West Virginia and Massachusetts markets · asset sale | not stated | Proposed | Second Report of the Monitor |
| purchaser of the Virginia Transaction, unnamedthe Virginia Transaction · asset sale | not stated | Closed5 Feb 2026 | Second Report of the Monitor |
| Holistic Industries Inc.the transaction contemplated by the equity purchase agreement between the Parent Company, Columbia Care LLC and Green Leaf Medical of Ohio III, LLC, as sellers, and Holistic Industries Inc., as purchaser · share sale · agreement 23 Mar 2026 | Subscribers | Closed | Ohio Sale Approval Order |
| Parma Holdco LLCthe transaction contemplated by the asset purchase agreement between the Parent Company and Columbia Care Delaware LLC, and Parma Holdco LLC, as purchaser · asset sale · agreement 23 Mar 2026 | Subscribers | Closeddate not stated | Monitor's Certificate |
| 6797 Bowman Frederick LLCcertain real property consisting of a cultivation facility located at 6797 Bowman Crossing, City of Frederick, Frederick County, Maryland (the 'Real Property') · real property · agreement 31 Jul 2026 | Subscribers | Approved18 Aug 2026 | Revised Maryland Sale Approval Order |
| Free State Botanicals Holdings LLCthe Seller Entities' rights, title, and interest in and to the Transferred Assets · asset sale · agreement 31 Jul 2026 | not stated | Approved18 Aug 2026 | Revised Maryland Sale Approval Order |
| Vireo Health of Arcadia, LLCthe sale to the Buyer of the issued and outstanding Equity (as defined in the Purchase Agreement) of the Transferred Entities; (ii) the sale to the Buyer of the Seller Entities' rights, title, and interest in and to the Transferred Assets · asset sale · agreement 19 Jul 2026 | Subscribers | Approved18 Aug 2026 | Remaining States Sale Approval Order (Vireo) |
| 6797 Bowman Frederick LLCthe related cultivation property · real property · agreement 7 Aug 2026 | not stated | Approved | Sixth Report of the Monitor |
| Free State Botanicals Holdings LLCthe Maryland business · asset sale · agreement 7 Aug 2026 | not stated | Approved | Sixth Report of the Monitor |
| purchaser of the Delaware business assets, unnamed in this reportsubstantially all of the assets in respect of the CC Group's Delaware business · asset sale | not stated | Closed | Sixth Report of the Monitor |
| purchaser of the Ohio business assets, unnamed in this reportsubstantially all of the assets in respect of the CC Group's Ohio business · asset sale | not stated | Closed | Sixth Report of the Monitor |
| unnamedthe Delaware Transaction | not stated | Closed8 May 2026 | Sixth Report of the Monitor |
| unnamedthe Ohio Transaction | not stated | Closed2 Sep 2026outside 31 Aug 2026 | Sixth Report of the Monitor |
1 engagement · 1 firm — FTI Consulting Canada Inc.Fifth Report of the Monitor · 13 Aug 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| FTI Consulting Canada Inc.Monitor | — | — | Fifth Report of the Monitor · 13 Aug 2026 |
2 blurred figures above
What the firm billed — each as the filing states it, with its source.
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See all plansAs at ·
Professional fees
$659K
As at 26 Jul 2026Fifth Report of the Monitor
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 |
|---|---|---|
| Aide Memoire of the Applicants | PDF · Subscribers | |
Affidavit of Samantha Mikolajewski
| PDF · Subscribers | |
Applicants' Motion Record
| PDF · Subscribers | |
Order (Stay Extension, Amendment to the ARIO, Postponement of Annual General Meeting and Approval of Monitor's Reports and Fees)
| PDF · Subscribers | |
Sixth Report of the Monitor
| PDF · Subscribers | |
Ancillary Order for Releases (Maryland)
| PDF · Subscribers | |
Ancillary Order for Releases (Vireo)
| PDF · Subscribers | |
Endorsement of Justice Conway
| PDF · Subscribers | |
Remaining States Sale Approval Order (Vireo)
| PDF · Subscribers | |
Sale Approval Order (Maryland)
| PDF · Subscribers | |
| Notice of Appearance - Sugarloaf Holdings LLC and Sugarloaf Enterprises LLC | PDF · Subscribers | |
| Responding Affidavit of Philip Goldberg | PDF · Subscribers | |
| Affidavit of B. Ketwaroo | PDF · Subscribers | |
| Blackline of Revised Maryland Sale Approval Order | PDF · Subscribers | |
Revised Maryland Sale Approval Order
| PDF · Subscribers | |
Fifth Report of the Monitor
| PDF · Subscribers | |
| Supplemental Motion Record of the Applicants | PDF · Subscribers | |
East West Bank Stipulation Order
| PDF · Subscribers | |
Endorsement of Justice Dietrich
| PDF · Subscribers | |
| Factum of the Applicants | PDF · Subscribers | |
| Service List | Trustee site | |
Fourth Report of the Monitor
| PDF · Subscribers | |
| Motion Record of the Applicants | PDF · Subscribers | |
Order
| PDF · Subscribers | |
Order (Stay Extension and Approval of Monitor's Reports and Fees)
| PDF · Subscribers | |
Revised Order
| PDF · Subscribers | |
| Revised Order (Redline to May 15 version) | PDF · Subscribers | |
| Third Report of the Monitor | PDF · Subscribers | |
Affidavit of T. Lynch (sworn April 9, 2026)
| PDF · Subscribers | |
Application Record of The Cannabist Company Holdings Inc. et al, for the issuance of an initial order
| PDF · Subscribers | |
Brief of the Ad Hoc Group of Senior Noteholders
| PDF · Subscribers | |
| Comeback Factum | PDF · Subscribers | |
| Initial Factum of The Cannabist Company Holdings Inc. et al. | PDF · Subscribers | |
| Notice of Appearance of East West Bank | PDF · Subscribers | |
Notice of Application
| PDF · Subscribers | |
Supplemental Application Record of the Applicants
| PDF · Subscribers | |
Monitor's Certificate
| PDF · Subscribers | |
Ancillary Order
| PDF · Subscribers | |
Delaware Sale Approval Order
| PDF · Subscribers | |
Ohio Sale Approval Order
| PDF · Subscribers | |
Second Report of the Monitor
| PDF · Subscribers | |
Amended and Restated Initial Order
| PDF · Subscribers | |
| First Report of the Monitor | PDF · Subscribers | |
Certified Initial Order
| PDF · Subscribers | |
| Frequently Asked Questions | PDF · Subscribers | |
Initial Order
| PDF · Subscribers | |
| List of Known Creditors | PDF · Subscribers | |
| Notice to Creditors | PDF · Subscribers | |
Pre-Filing Report of the Proposed Monitor
| 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., “The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc.” (CCAA), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/the-cannabist-company-holdings-inc-and-the-cannabist-company-holdings-canada-inc