Quebec · Bankruptcy
Minutes of the First Meeting of Creditors (Original French Version)
Meeting materials · 28 September 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 filing7 verified
- financial positionnote: Amounts in thousands of USD. Trustee's own liquidation views are far below book: production equipment liquidation value nearly nil (book 571), leasehold improvements nil (book 5,058), intangibles marginal in forced liquidation (book 11,587). Secured claims total 19,419 (as of 2026-07-31) vs. 350,000 USD sale proceeds received; secured claims 'largely exceed' asset value. Bank loan 1,617 shown fully secured; liabilities split: secured 19,419 / unsecured 15,040. · page: 8 · as at: 2026-07-31 · basis: Net book value per debtor's accounting records, unaudited by the trustee ('n'ont pas fait l'objet d'un audit') · scope: Studios Félix & Paul inc. (debtor entity) · currency: USD · total assets: 22055000 · total liabilities: 34459000
- secured creditorsnote: Book value per debtor's records, unaudited, in thousands of USD. Security opinion pending. · page: 9 · as of: 2026-07-31 · amount: 5773000 · debtor: Studios Félix & Paul inc. · creditor: Investissement Québec · currency: USD · security: Claims first-ranking security on debtor's assets (as claimed)
- secured creditorsnote: Book value as of 2026-07-31, in thousands of USD. In August 2026, $0.9M (USD) was repaid to BNC following collection of 2025 federal tax credits, so the balance is lower than shown. Security opinion pending. · page: 9 · as of: 2026-07-31 · amount: 3075000 · debtor: Studios Félix & Paul inc. · creditor: Banque Nationale du Canada · currency: USD · security: Claims first-ranking security on debtor's assets (as claimed)
- secured creditorsnote: Book value per debtor's records, unaudited, in thousands of USD. Creditor 'purports' to hold first-ranking security; security opinion (Avis sur les sûretés) not yet delivered. · page: 9 · as of: 2026-07-31 · amount: 6257000 · debtor: Studios Félix & Paul inc. · creditor: Export Development Canada (EDC) · currency: USD · security: Claims secured by debtor's assets; claims first-ranking security (per trustee's table); validity and enforceability opinion from Osler pending
- secured creditorsnote: Book value per debtor's records, unaudited, in thousands of USD. Security opinion pending. · page: 9 · as of: 2026-07-31 · amount: 1437000 · debtor: Studios Félix & Paul inc. · creditor: Société de développement des entreprises culturelles (SODEC) · currency: USD · security: Claims first-ranking security on debtor's assets (as claimed)
- secured creditorsnote: Book value per debtor's records, unaudited, in thousands of USD. Security opinion pending. · page: 9 · as of: 2026-07-31 · amount: 2877000 · debtor: Studios Félix & Paul inc. · creditor: BDC Capital · currency: USD · security: Claims first-ranking security on debtor's assets (as claimed)
- unsecured creditorsnote: Aggregate of the unsecured column; the document names no individual unsecured creditors. Components (thousands USD): accounts payable and accrued 4,260; deferred revenue 4,874; long-term debt unsecured portion 2,772; debentures unsecured portion 1,335; deferred lease incentive obligation 1,799. Trustee states ordinary creditors will receive no distribution. Landlord Centre Commercial 5333 Enr (A. Rossdeutscher) is a creditor but no amount is stated. · page: 9 · as of: 2026-07-31 · basis: Debtor's accounting records, book value, unaudited (trustee's preliminary report) · amount: 15040000 · debtor: Studios Félix & Paul inc. · creditor: Unsecured creditors (aggregate as reported) · currency: USD