Quebec · CCAA
2025-07-23 - Raisons - Septième OIAR (en anglais)
Amended and restated initial order · 23 July 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 filing8 verified
- secured creditorsnote: Statement of account from NBC as of July 17, 2025; plus per diem of $5,783.05. Approximate figure of $33M as of Initial Application date (Dec 11, 2024) given in prose as approximation. First ranking secured creditor of Medicentres, m-Health, Privamed, CDL and Quebec Clinics. Legal opinions confirming validity/enforceability of security obtained (Québec, Ontario, Manitoba, Saskatchewan, Alberta). · page: 7 · as of: 2025-07-17 · amount: 31437250.42 · debtor: ELNA Medical Group Inc. (EMG) · creditor: National Bank of Canada · currency: CAD · security: EMG Security Package - security registered in Québec and other provinces plus guarantees; facilities included Operating Credit (max $3,000,000), Overdraft ($2,442,875), Term loan (initial $24,885,000), Treasury Risk Credit Facility (max exposure $3,500,000), MasterCard Facility (max $400,000)
- secured creditorsnote: Statement of account from NBC as of July 17, 2025; plus per diem of $2,720.67. Approximate figure of $10.6M as of Initial Application date given in prose. · page: 7 · as of: 2025-07-17 · amount: 11158555.37 · debtor: m-Health Solutions Inc. · creditor: National Bank of Canada · currency: CAD · security: m-Health Security Package similar to EMG Security Package, m-Health as borrower, EMG as guarantor; registered in Québec and other provinces; facilities included Operating Credit (max $500,000), Term loan (initial $11,676,000), Treasury Risk Credit Facility (max exposure $800,000), MasterCard Facility (max $100,000)
- secured creditorsnote: Amount recognized and payable by Monitor as capital, interest at 11%, and management fees (0.75% of original loan of $6,148,000 plus taxes), 'under protest and subject to determination relating to the collocation'. Second ranking secured creditor of m-Health. Full Norea Claim per updated July 16, 2025 statement was $10,095,566.37 (as at July 11, 2025) plus per diem $3,226.61, disputed - includes default interest ($354,074.87 + $8,013.72) and premium ($1,412,880) which Monitor disputes; a $2,000,000 reserve (Norea Claim Reserve) held for these disputed amounts. Original principal ~$6,148,000. Norea's own March 21, 2025 credit bid claimed $9,275,639 as of March 31, 2025 including early repayment penalty and default interest which Monitor did not recognize. Legal opinions on validity/enforceability obtained (Québec, Ontario) based solely on security documents received March 2025; no opinion on rank or quantum. · page: 9 · as of: 2025-07-11 · amount: 8320597.78 · debtor: m-Health Solutions Inc. · creditor: Norea Capital I, S.E.C. · currency: CAD · security: General security agreement (Ontario law) and movable hypothec (Québec law) granted by m-Health in favour of Norea; guaranteed by 1000224328 Ontario Inc.
- secured creditorsnote: DISCHARGED - registration to be cancelled pursuant to CDL RVO and Clinics AVO following closing of transactions on June 27, 2025 · page: 11 · debtor: CDL Laboratories Inc. or Quebec Remaining Clinics · creditor: Hewlett-Packard Financial Services Canada Company · currency: CAD · security: Conventional movable hypothec, registration number 24-0488619-0001
- secured creditorsnote: DISCHARGED - registration to be cancelled pursuant to CDL RVO and Clinics AVO following closing of transactions on June 27, 2025 · page: 11 · debtor: CDL Laboratories Inc. or Quebec Remaining Clinics · creditor: Investissement Québec · currency: CAD · security: Conventional movable hypothec, registration number 23-0521575-0001
- secured creditorsnote: DISCHARGED - registration to be cancelled pursuant to CDL RVO and Clinics AVO following closing of transactions on June 27, 2025 · page: 11 · debtor: CDL Laboratories Inc. or Quebec Remaining Clinics · creditor: Décarie Square Commercial Center Limited Partnership · currency: CAD · security: Conventional movable hypothec, registration number 15-1878663-0001
- secured creditorsnote: DISCHARGED - registrations to be cancelled pursuant to CDL RVO and Clinics AVO following closing of transactions on June 27, 2025 · page: 11 · debtor: CDL Laboratories Inc. or Quebec Remaining Clinics · creditor: Business Development Bank of Canada · currency: CAD · security: Conventional movable hypothecs, registration numbers 19-0786418-001 and 20-0681138-0001
- presiding officerJustice Martin F. Sheehan