Quebec · Court officer
Report of the Provisional Administrator
Court officer report · 17 December 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 filing8 verified
- cash on handnote: Bank balance at end $2,357,810 plus $5,300,000 invested in a GIC; the report also describes it as $7.7 million. · as at: 2025-11-25 · amount: 7657810 · currency: CAD · qualifier: total cash available, including the GIC investment
- disbursementsnote: Total disbursements to November 25, 2025, including the $5,300,000 GIC investment. · since: September 13, 2024 · amount: 6324735 · currency: CAD
- operational summaryThe provisional administrator continues to collect on the MVMT loan portfolio, with 50 active loans remaining, and plans a sale and investment solicitation process for the MVMT assets. It seeks approval of a reverse claims process and an interim distribution to investors of about $6.3 million.
- professional feesnote: Other professional fees (mainly auditors' fees) were a further $243,801. Whether tax is included is not stated. · party: Provisional administration (FTI Consulting Canada Inc.) · amount: 407198 · period: September 13, 2024 to November 25, 2025 · currency: CAD
- receipts cumulativenote: Total receipts across the MVMT Entities (SCMC $8,353,848; MVMT GP $225), including $8,302,327 of loan repayments, to November 25, 2025. · since: September 13, 2024 · amount: 8354073 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Considering the available cash, the Interim Administrator is of the opinion that an interim distribution would be desirable for Investors and that an amount of $6.3 million could be distributed to Investors holding a Claim validated by the Interim Administrator under the Claims Process. · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: unstated · amount low: 6300000 · cumulative: false · amount high: 6300000 · class label: Investors holding a Claim validated by the Interim Administrator · interim final: interim · conditional on: prorated to the Claims accepted by the Interim Administrator, upon completion of the Claims Process · currency quote: all amounts are expressed in Canadian dollars · claims qualifier: unstated · stated on: 2025-12-10 · table missing:
- report date10 December 2025
- report noFourth Report (inferred)