Quebec · CCAA
Pre-Filing Report to the Court
Pre-filing report · 27 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
- financial positionpage: 6 · as at: 2025-08-31 · basis: Unaudited consolidated financial statements for the five-month period ended August 31, 2025 · scope: Consolidated - the Debtors (Lithion Technologies Inc., Lithion Saint-Bruno Inc., Lithion International Inc.) · currency: CAD · total assets: 61908285 · total liabilities: 12515071
- secured creditorsnote: Original 2020 advance was a $125,000 Term Loan plus a $25,000 grant (total $150,000), entered Dec 15, 2020 by Lithion Recycling Inc., predecessor of LTI; figure shown is Aug 31, 2025 outstanding balance. · page: 7 · as of: 2025-08-31 · amount: 61806 · debtor: Lithion (predecessor Lithion Recycling Inc./LTI) · creditor: PME MTL Est-de-l'Île · currency: CAD
- secured creditorsnote: Part of Private Investors Term Loan (with IMM and General Motors), entered April 11, 2025, available in tranches of US$3.0M and CAD$500,000; loan has matured; ranks pari passu with IQ Term Loan. · page: 8 · as of: 2025-08-31 · amount: 521781 · debtor: LTI and LSB · creditor: Construction Seneca Inc. · currency: CAD · security: Movable hypothec on the universality of all movable property of LTI and LSB
- secured creditorsnote: Part of Private Investors Term Loan (with Seneca and IMM), entered April 11, 2025; loan has matured; ranks pari passu with IQ Term Loan. · page: 8 · as of: 2025-08-31 · amount: 2137963 · debtor: LTI and LSB · creditor: General Motors Ventures LLC · currency: CAD · security: Movable hypothec on the universality of all movable property of LTI and LSB
- secured creditorsnote: Part of Private Investors Term Loan (with Seneca and General Motors), entered April 11, 2025; loan has matured; ranks pari passu with IQ Term Loan. · page: 8 · as of: 2025-08-31 · amount: 2137963 · debtor: LTI and LSB · creditor: IMM Investment Hong Kong Holdings Limited · currency: CAD · security: Movable hypothec on the universality of all movable property of LTI and LSB
- secured creditorsnote: IQ Term Loan facility was $4.3 million, entered April 11, 2025, maturity Sept 30, 2025; notice of default, support and forbearance concluded Oct 27, 2025, with IQ confirming support subject to conditions; IQ is also an ultimate shareholder of the Lithion Group (related party) and is treated as an unaffected creditor under the Proposed Restructuring; ranks pari passu with Private Investors Term Loan. · page: 8 · as of: 2025-08-31 · amount: 4459925 · debtor: LTI and LSB · creditor: Investissement Québec · currency: CAD · security: Movable hypothec on the universality of all movable property of LTI and LSB
- secured creditorsnote: Aggregated leasing/PMSI financiers: Meridian OneCap Credit Corp., Meridian OneCap Limited Partnership, and Crown Credit (Canada) Corporation; amounts not stated. · page: 9 · debtor: LSB · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Registered rights on leased equipment under leasing agreements