Quebec · NOI
Second Report of the Trustee to the Court (Original French Version)
Court officer report · 21 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 filing13 verified
- secured creditorsnote: Individual balance not stated. Claims of the three secured creditors total approximately $29M (source: unaudited internal financial statements at 2026-07-31), not allocated by creditor. Validity of security under review by Langlois avocats, result expected by 2026-11-06. Creditor has indicated its acquiescence to the Transaction. · page: 4 · debtor: Innomalt inc. · creditor: Investissement Québec · currency: CAD · security: Conventional security over the universality of the debtor's assets, immovable and movable
- secured creditorsnote: Individual balance not stated. Claims of the three secured creditors total approximately $29M (source: unaudited internal financial statements at 2026-07-31), not allocated by creditor. Validity of security under review by Langlois avocats, result expected by 2026-11-06. Creditor has indicated its acquiescence to the Transaction. · page: 4 · debtor: Innomalt inc. · creditor: Financement agricole Canada · currency: CAD · security: Conventional security over the universality of the debtor's assets, immovable and movable
- secured creditorsnote: Individual balance not stated. Claims of the three secured creditors total approximately $29M (source: unaudited internal financial statements at 2026-07-31), not allocated by creditor. Validity of security under review by Langlois avocats, result expected by 2026-11-06; sale proceeds will pay these claims in part only, subject to confirmation of security validity. Creditor has indicated its acquiescence to the Transaction. · page: 4 · debtor: Innomalt inc. · creditor: Caisse Desjardins de Godefroy · currency: CAD · security: Conventional security over the universality of the debtor's assets, immovable and movable
- cash on handnote: Actual ending cash (credit line) position of (531) in $000 at 17 Oct 2026, versus a budgeted (706); the projected position at 12 Dec 2026 is (618) in $000. Figures unaudited. · as at: 2026-10-17 · amount: -531000 · currency: CAD · qualifier: net bank indebtedness (credit line drawn), not positive cash
- disbursementsnote: Total actual disbursements of 836 ($000) for the 11 weeks ending 17 October 2026, vs budget 725. · since: start of the 11-week cash-flow period (week ending 8 August 2026) · amount: 836000 · currency: CAD
- operational summaryThe debtor is still operating while a sale-and-investment solicitation process led to a binding offer for substantially all its assets by a related party; after closing it will lose its assets and employees, cease operations, and will likely make an assignment in bankruptcy.
- process resultsbids: 1 · lois: 4 · ndas: 9 · note: One potential buyer selected for Phase 2 and submitted the Binding Offer on October 21, 2026 · solicited: 60
- professional feesnote: Actual Syndic professional fees of 223 ($000) vs budget 185. Lawyers' fees (Avocat) were a further 53 ($000) actual with no budget. The Second cash-flow forecast projects Syndic fees of 79 and lawyers' fees of 68 ($000) through 12 Dec 2026. Tax treatment not stated. · party: Syndic (Restructuration Deloitte inc.) · amount: 223000 · period: 11 weeks ending 17 October 2026 · currency: CAD
- purchaserune société contrôlée par Préval AG inc.
- receipts cumulativenote: Total actual receipts of 959 ($000) for the 11 weeks ending 17 October 2026, vs budget 673. · since: start of the 11-week cash-flow period (week ending 8 August 2026) · amount: 959000 · currency: CAD
- report date21 October 2026
- report noSecond rapport
- sale outcometext: The Debtor accepted the Binding Offer, subject to Court authorization under s. 65.13 BIA; closing expected on or about November 6, 2026. · scope: whole_business · status: pending_approval