Ontario · CCAA
Third Report of the Monitor dated January 23, 2026
Court officer report · 23 January 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 filing11 verified
- report date23 January 2026
- report noThird
- operational summaryThe Applicants are part of the Iovate Group, a group of companies engaged in the development, production and sale of health and nutrition products in Canada, the United States and internationally.
- cash on handnumber: 17250000 · currency: USD
- professional feesnumber: 2974000 · currency: USD
- receipts cumulativenumber: 59770000 · currency: USD
- fee scheduleengagements: form: report_table · rows: · money: approximate: false · period: kind: unstated · label: the Period · quote: As reflected on Exhibit 'B', the Monitor's average hourly rate for the Period was $631.32. · approval: state: unstated · averages: rate: 631.32 · quote: the Monitor's average hourly rate for the Period was $631.32 · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. · context quote: As reflected on Exhibit 'B', the Monitor's average hourly rate for the Period was $631.32.; form: invoice_listing · rows: · money: approximate: false · period: end: 2025-11-28 · kind: cumulative · label: the Approval Period · quote: Attached hereto and marked as Exhibit 'A' are true copies of the accounts (the ' Osler Accounts ') rendered by Osler to the Monitor for the period from September 4, 2025 to November 28, 2025 (the ' Approval Period '). · start: 2025-09-04 · approval: state: unstated · averages: · currency: · invoices: tax: 51863.77 · date: 2025-10-31 · fees: 394477.5 · quote: October 31, 2025 September 30, 2025 394,477.50 4,474.55 51,863.77 450,815.82 · total: 450815.82 · period end: 2025-09-30 · disbursements: 4474.55 · firm text: Osler · firm quote: Osler · context quote: Attached hereto and marked as Exhibit 'A' are true copies of the accounts (the ' Osler Accounts ') rendered by Osler to the Monitor for the period from September 4, 2025 to November 28, 2025 (the ' Approval Period ').
- operational summaryThe Iovate Group continues to operate its health and nutrition products business under CCAA protection while the Monitor, now with enhanced powers, runs a court-approved sale and investment solicitation process. The CEO resigned, the Monitor took over management reporting under a governance protocol, and a small reduction in force was implemented.
- professional feesnote: Excludes sales taxes; disbursements of $1,487.35 additional. Monitor's counsel Osler fees for September 4 to November 28, 2025 were $1,042,712.50 plus disbursements of $11,910.13, also excluding sales taxes. Fee amounts are drawn from the Monitor's own affidavit and are not in a stated currency in the report text (report generally states U.S. dollars unless noted). · party: KSV Restructuring Inc. (Monitor) · amount: 383304.66 · period: commencement of the proceedings to November 30, 2025 · currency: CAD
- report date23 January 2026
- report noThird Report