Ontario · Receivership (court-appointed)
Fourth Report of the Receiver dated November 6, 2025
Court officer report · 6 November 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 filing5 verified
- financial positionnote: No total assets or total liabilities stated for any Debtor. PMIF's Loan Book Value was approximately $286 million as of December 31, 2023 (audited), and the Fraudulent Scheme 'could result in losses approximating the Loan Book Value'. 839 Canada owes PMIF at least $2,259,452 and US$5,640,000 and PMIF has security over 839 Canada's property. 839 Canada funded $2.6 million for its 40% WSS equity interest (3,466,666 shares); WSS sale consideration is $75,000 cash plus a 12.5% participation in WSS net revenue, with a pro-forma estimating potential value of the continuing interest at 'several million dollars' (a projection, not a position). · basis: Receiver's report; Loan Book Value taken from PMIF's audited financial statements for the year ended December 31, 2023 (issued June 19, 2024); 839 Canada indebtedness 'Based on the PWC Affidavit'; Receiver has not audited or verified the Information. · scope: Multi-entity receivership (PMI, PMIF, PMLC, 839 Canada); no consolidated asset/liability totals stated. Figures relate to PMIF's loan portfolio and 839 Canada's debt to PMIF. · currency: CAD
- operational summaryThe Receiver is seeking court approval to sell 839 Canada's 40% equity interest in Wind Sun Sky Entertainment for nominal cash plus a 12.5% participation in future net revenue on WSS's film and television properties, because 839 Canada's ownership is impairing WSS's ability to raise capital.
- receipts cumulativenote: Only receipt stated in this report: the $75,000 cash consideration under the WSS Share Purchase Agreement, 'which has been paid to the Receiver'. No cumulative receipts statement is provided. · amount: 75000 · currency: CAD
- report date6 November 2025
- report noFourth Report