Ontario · Receivership (court-appointed)
Third Supplement to the Second Report of MNP Ltd.
Court officer report · 29 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 filing6 verified
- secured creditorsnote: Amount not stated in this document. The cash component of the purchase price represents the amount required to repay Verge in full, plus estimated Receiver and counsel fees and the Receiver's borrowings. · page: 10 · debtor: Future Health Technologies Inc. · creditor: Verge · currency: CAD · security: Secured indebtedness; to be repaid in full in cash under the Amended Stalking Horse Bid
- secured creditorsnote: Amount not stated in this document. Assumed debt is stated to equal the secured indebtedness owing to the Applicants; the $2,484,081.15 purchase price is a combination of this assumed debt and cash. The Stalking Horse Bidder was incorporated by certain of the Secured Creditors (related party). · page: 10 · debtor: Future Health Technologies Inc. · creditor: Applicants (Bruce Community Futures Development Corporation, Community Futures South Georgian Bay, Saugeen Economic Development Corporation, Community Futures Development Corporation of Wellington-Waterloo, Huron Business Development Corporation o/a Community Futures Huron) · currency: CAD · security: Secured indebtedness owing to the Applicants; to be assumed by the Stalking Horse Bidder as a credit bid under the Amended Stalking Horse Bid. Receiver obtained a security opinion and determined the security is valid.
- secured creditorsnote: Court-ordered receivership charges, not ordinary security. Amounts not stated; to be paid on closing. The Receiver is not aware of any other priority creditors, including source deductions or other statutory priority claims. · page: 11 · debtor: Future Health Technologies Inc. · creditor: Receiver's Charge and Receiver's Borrowing Charge (MNP Ltd.) · currency: CAD · security: Court-ordered charges under the Appointment Order against the assets of FHT; rank ahead of the assumed secured debt
- operational summaryThe RPMS remains operating but has had a system-wide gateway outage and communication failures since mid-October 2026, and the Receiver still depends on 280 ONT, which controls the source code, credentials and infrastructure, to diagnose and fix them. The Receiver is seeking court approval of an amended stalking horse bid and sale process to stabilize the system and sell the assets.
- report date29 October 2026
- report noThird Supplement to the Second Report