Quebec · CCAA
Sixth Report to the Court
Court officer report · 23 April 2026
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What we verified from this filing10 verified
- cash on handnote: Positive variance of $643K versus the December CF Forecast · as at: 2026-04-12 · amount: 4700000 · currency: CAD
- closing confirmedscope: the Pelican and Confluence business · outcome: completed · effective: 2025-05-10 · purchaser: 95395893 Quebec Inc. · date basis: stated · approval order date: 2025-04-28
- operational summaryFollowing the sale of the Pelican/Confluence business, the Debtors have no remaining employees or directors and are winding down, while their sole remaining asset (an equity stake in GSI) is being sold via the GSI SISP so that GSI's own operations continue uninterrupted.
- process resultsbids: 5 · lois: 7 · note: 222 parties contacted; 7 non-binding LOIs by Phase I deadline; 5 offers received on the Bid Deadline · as of: 2025-11-06 · solicited: 222
- purchaserGSI IDK Holdco, Inc.; 95395893 Quebec Inc.
- recovery outcomeentries: basis: unstated · quote: The Monitor is seeking the Court's authorization to distribute the amount of $17.5M from the funds held by the Monitor resulting from the Mach Transaction and the Proposed Transaction (collectively, the ' Collected Amount ') to NBC, in its capacity as administrative agent, in partial repayment of amounts owing to the Lenders. · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 17500000 · amount high: 17500000 · class label: Lenders (secured creditors) · creditor name: National Bank of Canada, as administrative agent · interim final: interim · claims qualifier: unstated · table missing:
- report date13 April 2026
- report noSixth Report
- sale advisorFTI Capital Advisors - Canada ULC
- sale outcometext: The Monitor has selected GSI Holdco's revised offer as successful bid and seeks approval of the Proposed Transaction · scope: parcel · status: pending_approval