Vital Inc.
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act
- File
- CV-25-00000159-0000
- Industry
- Retail · Home, furniture & electronics retail
Vital Inc. has been under court-appointed receivership since April 15, 2025, when the Ontario Superior Court of Justice appointed MNP Ltd. as receiver on the application of the Business Development Bank of Canada under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The proceeding is active under court file CV-25-00000159-0000. BDC's appointment rests on a General Security Agreement dated November 22, 2022 and a charge on title of the land and building of the same date; the receiver's Form 87 statement reports $1,433,455.00 owed to BDC's Toronto office as of April 22, 2025. The Municipality of Hastings Highlands is reported as holding security on the property for $45,000, and CRA - Tax - Ontario is listed as unsecured at $1.00.
Receivership order granted on Tuesday, April 15, 2025, placing Vital Inc. into court-appointed receivership and commencing the Ontario Superior Court proceeding under file CV-25-00000159-0000.
Source: Receivership Order
Debtor
Vital Inc.
Receiver
MNP
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Muszynski | Ontario Superior Court of Justice | 1 order, Apr 2025 | 4 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantBusiness Development Bank of Canada | Soloway Wright LLP | 15 Apr 2025 | Order · 15 Apr 2025 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Business Development Bank of Canada - Toronto · in 26 casesGeneral Security Agreement dated November 22, 2022 and a charge on title of the land and building dated November 22, 2022 — Amount owed as reported in Form 87 Notice of Statement of the Receiver; receiver appointed pursuant to this security — debtor: Vital Inc. · as of 22 Apr 2025 | $1.43M | Creditors' Package |
| 4 | Secured | |||
| 8 | Unsecured |
2 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansThis 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.
BDC: a distribution.Motion Record · 17 Apr 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredBusiness Development Bank of Canada | BDC | — | interimconditional | per the receiver | Motion Record · 17 Apr 2026 |
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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Factum | PDF · Subscribers | |
Motion Record
| PDF · Subscribers | |
Creditors' Package
| PDF · Subscribers | |
Receivership Order
| PDF · Subscribers | |
Application Record
| 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., “Vital Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/vital-inc