Ontario · NOI
Third Supplement to First Report of the Trustee - October 15, 2026
Court officer report · 15 October 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 filing9 verified · 1 withheld
- secured creditorsnote: Trustee allowed the claim; amount is not stated on these pages (see Appendix A proof of claim, not provided). Proof of claim received on or about August 24, 2026. · page: 5 · debtor: 11449346 Canada Inc. (P3) · creditor: National Bank of Canada (claim filed by Armada Credit Group Inc., as agent; assignee of Pivotal Capital Corp.) · currency: CAD · security: Purchase money security interest in a Lobo CS-24 Mitre Saw (the Armada Collateral); super-priority over Deka's GSA in that collateral under PPSA s. 33
- secured creditorsnote: Amount of Deka's claim not stated on these pages. · page: 7 · debtor: 11449346 Canada Inc. (P3) · creditor: Deka · currency: CAD · security: General security agreement with P3; previously slated to receive proceeds of the Armada Collateral, now subordinate to NBC's PMSI in that collateral (PPSA s. 33)
- cash on handnote: Portion of the $1,870,289.50 Sale Proceeds retained by the Trustee after repaying the DIP financier and paying Trustee/counsel fees; the appendix C waterfall shows net cash proceeds of $262,411.08 (P3) and $378,960.05 (United Edge), which sum to this figure. · amount: 641371.13 · currency: CAD
- operational summaryThe Companies sold all of their assets to a Purchaser in August 2025 and are in bankruptcy; the Trustee is seeking court approval of a revised distribution of the sale proceeds among secured creditors, with larger fee holdbacks, ahead of a November 10, 2026 motion.
- purchaser1001281812 Ontario Inc.
- receipts cumulativenote: Sale Proceeds paid to the Trustee on the sale of all of the Companies' assets. · since: August 11, 2025 asset sale to the Purchaser · amount: 1870289.5 · currency: CAD
- report date15 October 2026
- report noThird Supplement to the First Report
- sale outcometext: Purchaser's Qualified Bid was designated the Successful Bid in the SISP; the Trustee is seeking court approval on a motion returnable November 10, 2026 of a revised secured claim distribution scheme for the Sale Proceeds. · scope: whole_business · status: bid_selected
1 extracted value is 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.