Thoughtwire Inc. filed a notice of intention to make a proposal under subsection 50.4(1) of the Bankruptcy and Insolvency Act on August 7, 2026, in Ontario, with Dodick Landau Inc. acting as proposal trustee under file 31-3408761. The company's secured debt is held by three creditors: Ontario's Ministry of Labour with a claim of about $700,000 for accrued and unpaid wages and vacation pay, Josip Kozar at about $435,000 under a December 2025 loan, and Hole Medical Inc. at about $376,500 under a January 2025 loan. The Kozar and Hole Medical claims were assigned on August 26, 2026 to 1426994 Ontario Inc., the stalking horse bidder. Unsecured creditors, primarily trade creditors and former employees, are owed about $2.2 million in aggregate, with former employees owed a further $455,000 in wages and vacation pay and the Crown at least $51,248 in unpaid source deductions.
Justice Cavanagh approved the sale and investment solicitation process and the stalking horse agreement with 1426994 Ontario Inc., with a bid deadline of October 6, 2026, a $25,000 break fee and the stay extended to October 20, 2026.
Source: Court Order – Cavanagh J
ThoughtWire moved on August 28, 2026 for approval of a sale and investment solicitation process with 1426994 Ontario Inc., holder of the assigned secured debt, as stalking horse bidder.
Certificate of Appointment_ was filed. Court file 31-3408761.
Source: Certificate of Appointment_
Filing brief
ThoughtWire: the lenders' credit bid and the wage lien ahead of it
ThoughtWire Corp., a Toronto maker of digital-twin software for hospitals, has approval for a four-week sale process led by a stalking horse from a company its two secured lenders formed — a credit bid of about $783,000 in assigned debt, plus up to $300,000 of new interim financing — which the bidder may abandon if more than $100,000 of a $698,518 Crown registration for unpaid wages and vacation pay ranks ahead of its security.
Debtor
Thoughtwire Inc.
Proposal trustee
Dodick Landau
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Sep 2026 | 318 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| DebtorThoughtwire Inc. | Loopstra Nixon LLP | 31 Aug 2026 | Order · 2 Sep 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Crown - unpaid employee source deductionsas of NOI filing date — Stated as a floor ('at least'); Crown priority payable / deemed trust class — debtor: Thoughtwire Corp. | $51.2K | First Report of the Proposal Trustee – August 31 2026 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured |
5 more claims in 3 classes The stack holds Deemed trusts (CRA and other), Secured, Preferred (BIA s. 136) and Unsecured claims.
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See all plansSale process approved — SISP and stalking horse agreement approved; sale approval to be sought at a later Sale Approval MotionCourt Order – Cavanagh J · 2 Sep 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1426994 Ontario Inc.Stalking horseacquire all equity of the Company and thereby effectively acquire substantially all of the Company's assets and business operations by way of a 'reverse vesting order' · share sale · nominee/assignee: or its nominee · agreement 26 Aug 2026 | Subscribers | Approved2 Sep 2026outside 30 Oct 2026 | Court Order – Cavanagh J |
| Date | Document | File |
|---|---|---|
Court Order – Cavanagh J
| PDF · Subscribers | |
Endorsement – Justice Cavanagh
| PDF · Subscribers | |
Factum re Stay Extension and SISP Approval
| PDF · Subscribers | |
First Report of the Proposal Trustee – August 31 2026
| PDF · Subscribers | |
Motion Record – ThoughtWire Corp.
| PDF · Subscribers | |
Certificate of Appointment_
| 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., “Thoughtwire Inc.” (Proposal), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/thoughtwire-inc
Sources last checked · summary updated 4 September 2026 · Report a correction · Printed from proceedings.ca/case/thoughtwire-inc
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.