Nova Scotia · CCAA
Pre-Filing Report of the Proposed Monitor
Pre-filing report · 18 August 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 filing5 verified
- financial positionnote: Table totals secured creditors ($17.0M), priority CRA claims ($5.0M) and unsecured creditors ($1.7M) for 'Total Estimated' of $23,700,000 as stated in the report; no corresponding total assets figure is provided in the Report; real estate is separately described as secured by 'an estimated $17M of first and second ranking mortgages' · page: 9 · as at: 2025-08-18 · basis: Management estimate, unaudited ('Creditors (estimated), in 000's of CAD$'), combined entity basis · scope: Combined entity basis - all Applicants (Grafton Connor Group) · currency: CAD · total liabilities: 23700000
- secured creditorsnote: Shown as a dash (nil) in the Company's creditors table; deemed trust priority class · page: 9 · as of: 2025-08-18 · amount: 0 · debtor: Grafton Connor Group (combined entity basis) · creditor: CRA for Payroll Source Deductions · currency: CAD
- secured creditorsnote: Estimated balance per Company's creditors summary; Notice to Enforce Security issued pursuant to BIA s.244, 10-day notice period expired; replaced original lender CMLS Financial (which had extended an $8,000,000 mortgage to Sept 1, 2023 then declined to renew) as a higher-rate bridge-term facility · page: 9 · as of: 2025-08-18 · amount: 12000000 · debtor: Grafton Connor Group (combined entity basis) · creditor: Ducimus Capital Inc. · currency: CAD · security: First ranking mortgage(s) on real estate (Cornwallis Properties Limited PIDs 00002816/00002824; Five Fisherman Limited PIDs 40281966/40281958, per Appendix B)
- secured creditorsnote: Estimated balance per Company's creditors summary; Notice to Enforce Security issued pursuant to BIA s.244, 10-day notice period expired · page: 9 · as of: 2025-08-18 · amount: 5000000 · debtor: Grafton Connor Group (combined entity basis) · creditor: Park Lawn Corporation · currency: CAD · security: Second ranking mortgage on real estate held by Cornwallis Properties Limited and Five Fisherman Limited (behind Ducimus Capital Inc.); First mortgage on PID 4084689 (Esquire Restaurant property) owned by Bedford Investments Limited (per Appendix B)
- secured creditorsnote: Deemed trust priority claim ("CRA for HST/GST" line item); prose describes it as the "Pre-Filing HST Liability" "totalling over $5,000,000"; CRA swept ~$570,000 from bank accounts in March/April 2025 and now sweeps 15% of daily POS receipts (~$250,000 estimated April 2025 to Application date) · page: 9 · as of: 2025-08-18 · amount: 5000000 · debtor: Bedford Investments Limited and T.L.B. Holdings Limited (subject to CRA Sweep); Grafton Connor Group combined estimate · creditor: CRA for HST/GST · currency: CAD