UCG Canada Holdings Inc. dba Frank & Oak
Follow- Proceeding
- NOISections 50.4(9), 50.6, 64.1 and 64.2 of the BIA
- File
- 500-11-065048-247
UCG Canada Holdings Inc., doing business as Frank & Oak, is proceeding under a Notice of Intention filed under BIA s. 50.4 in the Superior Court of Quebec, court file 500-11-065048-247. A Statement of Affairs as at June 2, 2025 lists assets of $223,722.17 against liabilities of $70,949,356.29, a deficiency of $70,725,634.12. Internal financial statements as at November 30, 2024 had already shown a shareholders' deficiency of $(45,221,399), including loans payable to parent company UCG Holdings Inc. of $50,981,397 current and $4,550,650 long-term, plus an off-balance-sheet guarantee of a related company's obligations of approximately USD 22.5 million. UCG Holdings Inc., the debtor's sole shareholder, is also its principal secured creditor and proposed DIP lender; the trustee has engaged independent counsel to review the security it holds.
The court granted an approval and vesting order for the sale to UCG Holdings Inc. Closing terms, as extracted: Vesting occurs upon issuance of the Trustee's Certificate.
The court granted an approval and vesting order for the sale to UCG Holdings Inc.
Source: Judgment on Application for the Approval of a Residual Asset Vesting Order
15 earlier updates, back to 18 January 2025 — subscribers.
Debtor
UCG Canada Holdings Inc. dba Frank & Oak
Proposal trustee
PwC
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | UCG Holdings Inc.Related party: sole shareholder of the Debtor and its principal/primary secured creditor; also provided the proposed DIP financing. Trustee is engaging independent legal counsel to review the security held by UCG Holdings Inc. (security opinion pending). Figure per accounts payable listing used for NOI filing. — debtor: UCG Canada Holdings Inc. · as of 16 Dec 2024 | $55.5M | First Report of the Trustee |
3 transactions · 2 approved · 1 proposed — GRANTS the Application for the Approval of the Residual Asset AVOJudgment on Application for the Approval of a Residual Asset Vesting… · 16 May 2025
| Purchaser | Price | Status | Source |
|---|---|---|---|
| wholly owned subsidiary of UCG Holdings Inc.Purchase of certain remaining assets of the Company in order to preserve a portion of the Company's going concern business · asset sale | Subscribers | Proposed | Third Report of the Trustee |
| Lamour Digital Inc.tous les biens décrits à l'Annexe A des présentes (les « Actifs Achetés ») · asset sale · nominee/assignee: toute entité désignée par elle · agreement 9 Apr 2025 | Subscribers | Approved15 Apr 2025 | Approval and Vesting Order (in French only) –… |
| UCG Holdings Inc.tous les biens décrits en Annexe A des présentes (les « Actifs Achetés ») · asset sale · nominee/assignee: une filiale de celle-ci à être désignée avant la clôture · agreement 10 Apr 2025 | not stated | Approved16 May 2025outside 15 Apr 2025 | Judgment on Application for the Approval of a… |
UCG Holdings Inc.: a distribution.Application for Approval and Vesting Order, Extension of Delay and… · 10 Apr 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredUCG Holdings (secured creditor, Pre-Filing Debt) | UCG Holdings Inc. | — | a distributioninterim | per the debtor | Application for Approval and Vesting Order, Extension of Delay and… · 10 Apr 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.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| Date | Document | File |
|---|---|---|
Notice of Bankruptcy and First Meeting of Creditors
| PDF · Subscribers | |
Approval and Vesting Order (in French only)
| PDF · Subscribers | |
Judgment on Application for the Approval of a Residual Asset Vesting Order
| PDF · Subscribers | |
Approval and Vesting Order (in French only) – dated 2025-04-15
| PDF · Subscribers | |
Distribution Order (in French only)
| PDF · Subscribers | |
Liquidation Order
| PDF · Subscribers | |
Order Extending Delay to File a Proposal
| PDF · Subscribers | |
Third Report of the Trustee
| PDF · Subscribers | |
Application for Approval and Vesting Order, Extension of Delay and other Orders
| PDF · Subscribers | |
Order Extending Delay to File a Proposal – dated 2025-02-28
| PDF · Subscribers | |
Second Report of the Trustee
| PDF · Subscribers | |
Application for an Order Extending the Delay to File a Proposal
| PDF · Subscribers | |
Order Approving SISP
| PDF · Subscribers | |
| Order Extending Delay to File a Proposal, Approving Interim Financing and other relief | PDF · Subscribers | |
First Report of the Trustee
| PDF · Subscribers | |
Application for order approving SISP, Extension of Delay, Interim Financing and other reliefs
| PDF · Subscribers | |
| Notice of Filing of Intention to Make a Proposal | 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., “UCG Canada Holdings Inc. dba Frank & Oak” (NOI), Superior Court of Québec. Retrieved 20 September 2026, https://proceedings.ca/case/ucg-canada-holdings-inc-dba-frank-oak