Quebec · CCAA
Application for an Amended and Restated Initial Order, an Extension Order, and Other Ancillary Relief (French Original Version)
Application / notice of application · 4 November 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 filing4 verified
- unsecured creditorsnote: Approximate amount; regulatory/government grant clawback, not a commercial debt; no date stated for the figure. Whether it is contested is not stated on these pages beyond being among the financial sanctions under negotiation/contestation. · page: 5 · basis: Document states 'récupération de subventions d'environ 17 000 000 $ pour l'année scolaire 2025-2026'. · amount: 17000000 · debtor: Collège LaSalle · creditor: Gouvernement du Québec / MES — recovery of grants for the 2025-2026 school year ("Récupération 25-26") · currency: CAD
- financial positionnote: The document states the debtor 'n'a pas de créanciers garantis susceptibles d'être affectés' (recited from the initial application, para. 30 of Pièce R-9) — a stated absence of secured creditors affected. Elsewhere it refers to discussions with the 'Syndicat bancaire' (bank syndicate) without stating any amount or security. Also states the debtor 'honore ses obligations dans le cours normal des affaires' and has resources through the end of the school year. Related requested items (forward-looking, not debts): A&D Charge $1,500,000 (one payroll cycle); tuition refunds up to $1,500,000. · page: 8 · basis: No balance sheet in this document. Recites the Controller's first report: deficit of revenues over expenses of $8.9 million in fiscal 2025, of which $7.8 million of the MES penalties was accounted for in 2025. · scope: Collège LaSalle (debtor entity); fall enrolment fell from 4,700 (fall 2024) to 3,425 (fall 2025). · currency: CAD
- unsecured creditorsnote: Disputed/contested regulatory penalties, contested by judicial review (file 500-17-130879-243); not an adjudicated debt. Under an agreement with the MES, $195,000 per grant instalment (9 per year) is withheld without admission; a cumulative $3,317,550 had been withheld as of the initial application (Pièce R-3, 23 Aug 2026), per the document's recital of that application. Quoted figures are recited from the initial application. · page: 9 · as of: 2025-06-30 · basis: Penalties imposed by MES decisions of 28 June 2024 ($8,781,740) and 30 June 2025 ($21,113,864); document states 'environ 29 900 000 $' in total. The two components are verbatim figures; the total is the document's own approximation. · amount: 29900000 · debtor: Collège LaSalle · creditor: Gouvernement du Québec / Ministère de l'Enseignement supérieur (MES) — contested financial penalties for alleged enrolment-cap overruns · currency: CAD
- secured creditors