Alberta · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 13 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 filing4 verified
- secured creditorsnote: Amount is the 'Outstanding Principal Amount, as defined in the Agreement, is stated to be $82,375,000.00' per the materials filed in support of the receivership application; no date for this figure is given in the Receiver's report. Principal only; a stated covenant default includes a failure to make a $5 million redemption payment alleged due March 31, 2026. Demands and BIA s.244(1) notices issued May 15, 2026; no payments made. The Receiver recites these as allegations from GC2's materials and has not verified them. · page: 7 · amount: 82375000 · debtor: Cash Today Inc. · creditor: Grow Capital Two Inc. (as Administrator) · currency: CAD · security: General Security Agreement dated August 29, 2023; assignment of Cash Today's loan receivables; corporate guarantees granted by 2327619 Alberta Ltd. and 2327624 Alberta Ltd. Financing Agreement dated on or about September 7, 2023, as revised by Agreement dated December 10, 2024.
- secured creditorsnote: No amount stated; related party (owned by 361 Alberta; Patterson and Schiffner are directors). Appears on collateral registrations; the report does not state any debt owed to it by Cash Today. Subscription proceeds from several debenture holders were reportedly paid to a BMO account held by 154 Alberta. · page: 10 · debtor: Cash Today Inc. · creditor: 1549932 Alberta Ltd. (154 Alberta) · currency: CAD · security: Named as a secured party, in addition to Cash Today, on certain PPR registrations made by Cash Today against loan collateral.
- unsecured creditorsnote: Ranking not stated in the report (secured/unsecured status of debentures not addressed; classified here only as not part of the GC2 security). The March 31, 2026 management-prepared financial statements show long term debt (and current portion) of only $181,256,992, a discrepancy the Receiver flagged. Individual debenture holders are not named on these pages. Some debentures restrict use of proceeds to acquiring loan portfolios, held in segregated accounts; Receiver cannot confirm compliance. Several holders' proceeds were paid to a BMO account held by 154 Alberta. · page: 126 · basis: Debenture listing provided by the Company, as quoted in the Receiver's Second Supplemental Request for Information dated September 29, 2026 ('suggests total debentures of $613,232,880'). Unverified. · amount: 613232880 · debtor: Cash Today Inc. · creditor: Debenture holders (aggregate per Company's debenture listing) · currency: CAD
- unsecured creditorsnote: Document names no individual creditors on these pages. · page: 126 · as of: 2026-03-31 · basis: Management-prepared financial statements dated March 31, 2026, as cited in the Receiver's request; Receiver requested an aged listing to support it. Unaudited, unsupported. · amount: 408052 · debtor: Cash Today Inc. · creditor: Trade/accounts payable (aggregate per March 31, 2026 management financial statements) · currency: CAD