Ontario · Receivership (court-appointed)
Second Report of the Receiver
Court officer report · 10 September 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing8 verified · 2 withheld
- secured creditorspage: 12 · debtor: SmartONE Solutions Inc. · creditor: BDC Capital Inc. · currency: CAD · security: PPSA registration dated March 25, 2024; blanket all-property registrant
- secured creditorsnote: Receiver has not received any communications from Eastern Development since its appointment · page: 12 · debtor: SmartONE Solutions Inc. · creditor: Eastern Ontario Community Futures Development Corporation Network Inc. · currency: CAD · security: PPSA registration dated February 5, 2025; blanket all-property registrant
- secured creditorsnote: Steelcase Collateral does not form part of assets being acquired in Transaction and will be returned to Steelcase · page: 12 · debtor: SmartONE Solutions Inc. · creditor: Steelcase Financial Services Ltd. · currency: CAD · security: PPSA registration dated January 22, 2024 over specific collateral (furniture and equipment leased from or financed by Steelcase, and proceeds) - PMSI/equipment financier
- secured creditorsnote: BNS no longer has any indebtedness owing to it by SmartONE; following commencement of receivership, Bell took assignment of the BNS indebtedness and security · page: 12 · debtor: SmartONE Solutions Inc. · creditor: Bank of Nova Scotia (BNS) · currency: CAD · security: PPSA registration dated May 9, 2022; blanket all-property registrant (priority order)
- secured creditorsnote: Registration made following the Receiver's appointment; understood to have been previously engaged by SmartONE · page: 13 · debtor: SmartONE Solutions Inc. · creditor: Outside GC LLC · currency: CAD · security: PPSA registration dated January 29, 2026 (registered after Receiver's appointment)
- secured creditorsnote: Bell's secured claim comprised of: (a) Receiver's Borrowings secured by super-priority Receiver's Borrowings Charge - cumulative borrowings $5,550,000 as of end of R&D Period (August 14, 2026); (b) assigned BNS indebtedness secured by perfected security assigned to Bell; (c) indebtedness under Collaboration Agreement secured by perfected Bell GSA. Only distribution on account of Receiver's Borrowings ($5,550,000) being sought at this time; amounts of (b) and (c) not stated · page: 23 · debtor: SmartONE Solutions Inc. · creditor: Bell Canada · currency: CAD · security: General Security Agreement dated June 30, 2020 (Bell GSA) granting security interest in all present and after-acquired personal property; PPSA registration dated June 26, 2024; also assignee of BNS debt and security; also senior-secured lender under Receiver's Certificates for Receiver's Borrowings (Receiver's Borrowings Charge, super-priority)
- process resultsbids: 6 · ndas: 19 · note: 49 Potential Bidders solicited; 19 executed NDAs; 6 EOIs received in Phase 1, all advanced to Phase 2; only 1 Qualified Bid received by Binding Bid Deadline · solicited: 49 · qualified bids: 1
- stalking horsestate: stated_none
2 extracted values are withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.