Ontario · NOI
Motion Record of Azure Publishing Inc.
Application / notice of application · 8 October 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- applicantAzure Publishing Inc.
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noBK-25-03270451-0031
- provinceONTARIO
- commencement date10 September 2025
- financial positionnote: Affidavit states 'Azure is currently insolvent with a total indebtedness estimated at approximately $850,000', comprising secured debt to 1449483 Ontario Ltd. (~$600,000-$800,000 per varying statements) and unsecured debt of approximately $178,742.32 (58 unsecured creditors, as at September 8, 2025, page 24). No balance sheet/asset figures provided in reviewed pages; total_assets not stated. · page: 22 · basis: management estimate (sworn affidavit statement of estimated total indebtedness) · scope: Azure Publishing Inc. (entity level) · currency: CAD · total liabilities: 850000
- secured creditorsnote: Related party / non-arm's-length lender (director Sergio Sgaramella is also a director of 1449483); also acting as proposed DIP Lender in the NOI proceedings. Prose elsewhere approximates the debt at 'approximately $600,000' (Notice of Motion para 13, page 10; Affidavit para 8, page 23, describing ~$600,000 injected into Azure); the $800,000 figure is the amount stated as owed pursuant to the (Grid) Promissory Note itself. · page: 24 · as of: Promissory Note dated July 18, 2024 · amount: 800000 · debtor: Azure Publishing Inc. · creditor: 1449483 Ontario Ltd. · currency: CAD · security: General Security Agreement (Ontario) dated July 18, 2024 over all present and after-acquired personal property of Azure, registered under the Ontario PPSA (PPSA search report dated September 3, 2025 identifies 1449483 as Azure's sole secured creditor)