Ontario · Bankruptcy
Trustee's Preliminary Report - Canadian Edge - 2026.10.09
Court officer report · 9 October 2026
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
- cash on handnote: Cash on hand at the Bankruptcy Date, of which the Trustee has taken possession. The August 31, 2026 balance sheet separately shows cash of $200K (in $000s). · as at: 2026-09-25 · amount: 135000 · currency: CAD · qualifier: approximately
- financial positionnote: Figures from table in $000s CAD: Total Assets 170, Total Liabilities 1,894, Shareholders Equity (Deficiency) (1,724). The assets breakdown table shows Cash 200 and Other Assets (30). Separately, Canadian Edge was a guarantor of a secured debt facility with an outstanding balance of approximately $133.1 million as at August 31, 2026, which is not included in the reported liabilities total. Trustee notes it is unclear whether March 2026 sublease assignments were accounted for on the balance sheet. · as at: 2026-08-31 · basis: Unaudited internal balance sheet summary based on the books and records of Canadian Edge; described as book value · scope: Canadian Edge International Corp. only (single entity, not consolidated with ILAC or affiliates) · currency: CAD · total assets: 170000 · total liabilities: 1894000
- operational summaryCanadian Edge ceased operations immediately on the Bankruptcy Date, cancelling all classes and programming; it had no employees, as shared services were provided by its parent ILAC.
- professional feesnote: Not an incurred-fee figure: a third-party guarantee of $455,000 held by the ILAC Trustee to guarantee payment of the professional fees and disbursements of the Trustee and legal counsel for statutory BIA work, should insufficient funds be available from the Company's estate. Tax treatment not stated. · party: Trustee of ILAC and other bankrupt subsidiaries including Canadian Edge, and legal counsel (Gowlings WLG) · amount: 455000 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The Trustee does not anticipate any distribution to unsecured creditors in the Bankruptcy Proceedings. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-10-09 · table missing:
- report date9 October 2026
- report noTrustee's Report to the First Meeting of Creditors on Preliminary Administration