Ontario · CCAA
Motion Record of the Iovate Entities dated September 6, 2025
Application / notice of application · 6 September 2025
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What we verified from this filing7 verified
- applicantIOVATE HEALTH SCIENCES INTERNATIONAL INC., IOVATE HEALTH SCIENCES U.S.A. INC., AND NORTHERN INNOVATIONS HOLDING CORP.
- courtSUPERIOR COURT OF JUSTICE
- secured creditorsnote: Borrower under syndicated Credit Agreement (revolving + term loan facilities); Notice of Intention to Enforce Security under s.244 BIA dated Aug 27, 2025. Affidavit of Wesley Parris states total owing as USD $115,785,488 as of August 31, 2025 (term loan $100,606,023 + revolving $14,000,000 + accrued default interest $1,179,465). · page: 69 · as of: 2025-08-26 · amount: 115700995 · debtor: Iovate Health Sciences International Inc. · creditor: Royal Bank of Canada, as Administrative Agent for the Lenders (successor to HSBC Bank Canada; syndicate includes HSBC Bank Canada, Toronto-Dominion Bank, Bank of China (Canada), Bank of Montreal, National Bank of Canada, Canadian Western Bank, and Bank of Nova Scotia) · currency: USD · security: General Security Agreement (Dec 21, 2016); US GSA (Dec 21, 2016); Collateral Leasehold Mortgage (Apr 11, 2017); Belgian Pledge on Business (Apr 4, 2025)
- secured creditorsnote: Guarantor/related affiliate under multi-party Group Guarantee for same syndicated debt as other Iovate Entities (same total, not additive). Notice of Intention to Enforce Security dated Aug 27, 2025; Northern Innovations executed Waiver and Consent to immediate enforcement. · page: 81 · as of: 2025-08-26 · amount: 115700995 · debtor: Northern Innovations Holding Corp. · creditor: Royal Bank of Canada, as Administrative Agent for the Lenders · currency: USD · security: General Security Agreement (Dec 21, 2016); Trademark Security Agreements (2021, 2024); Patent Security Agreements (2016, 2021)
- secured creditorsnote: Limited recourse guarantor (Holdco) for same syndicated debt as other Iovate Entities (same total, not additive); related-party holding company. Notice of Intention to Enforce Security dated Aug 27, 2025; Xiwang executed Waiver and Consent. · page: 86 · as of: 2025-08-26 · amount: 115700995 · debtor: Xiwang Iovate Holdings Company Limited · creditor: Royal Bank of Canada, as Administrative Agent for the Lenders · currency: USD · security: Pledge Agreement (Dec 21, 2016); Supplement to Security Agreement/GSA attornment (Mar 31, 2021); Specific Security Agreement (Shares)/Australian Pledge (Oct 6, 2022); Blocked Accounts Agreement/DACA (Sep 6, 2024)
- secured creditorsnote: Guarantor for same syndicated debt as other Iovate Entities (same total, not additive). Notice of Intention to Enforce Security dated Aug 27, 2025; Iovate USA executed Waiver and Consent. · page: 91 · as of: 2025-08-26 · amount: 115700995 · debtor: Iovate Health Sciences U.S.A. Inc. · creditor: Royal Bank of Canada, as Administrative Agent for the Lenders · currency: USD · security: General Security Agreement (Dec 21, 2016); US GSA (Dec 21, 2016); Deposit Account Control Agreement (Sep 24, 2024)
- secured creditorsnote: Guarantor (attorned to Guarantee Oct 6, 2022) for same syndicated debt as other Iovate Entities (same total, not additive). Notice of Intention to Enforce Security dated Aug 27, 2025. · page: 96 · as of: 2025-08-26 · amount: 115700995 · debtor: Iovate Health Sciences Australia Pty Ltd. · creditor: Royal Bank of Canada, as Administrative Agent for the Lenders · currency: USD · security: General Security Deed (Oct 6, 2022)