Quebec · Receivership (court-appointed)
Court Order Appointing a Receiver, Approving a Sale and Vesting Order
Receivership order · 10 July 2025
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- applicant1001160601 ONTARIO INC.
- commencement date10 July 2025
- courtSUPERIOR COURT
- court file no500-11-065926-251
- provinceQUÉBEC
- appointeeMNP Ltd.
- appointee rolereceiver
- statutory basissection 243 of the Bankruptcy and Insolvency Act
- secured creditorsnote: Priority charge for professional fees/disbursements incurred in the receivership proceedings; ranks in priority to all other hypothecs, mortgages, liens, security interests and encumbrances affecting the Property. · page: 6 · as of: NOI/Order date (July 10, 2025) · amount: 80000 · debtor: MVP Group Corporation · creditor: MNP Ltd. (Receiver) and its attorneys/advisors · currency: CAD · security: Court-ordered Administration Charge over all present and future Property of the Debtor, effective 12:01am (Montreal time) on the date of the Order
- secured creditorsnote: Rights ceded from TD Bank to Petitioner per Cession of Right registered 2025-06-12 (Reg. No. 25-0750689-0001); Prior Notice of Sale Under Judicial Authority registered 2025-02-12 (Reg. No. 25-0167108-0001); registration ordered struck/discharged upon issuance of the Receiver's Certificate as part of the vesting/sale to the Petitioner (credit bid). · page: 8 · as of: 2019-06-05 · debtor: MVP Group Corporation · creditor: 1001160601 Ontario Inc. (Petitioner; hypothec originally granted to and later ceded by The Toronto-Dominion Bank) · currency: CAD · security: Movable Hypothec (Reg. No. 19-0611373-0001) on universality of present/future property in stock, claims/receivables/book debts, equipment/road vehicles, trademarks/IP, and related fruits/revenues; registered amount $18,000,000.00 (registration ceiling, not a stated outstanding balance)
- secured creditorsnote: Prior Notice of Sale Under Judicial Authority registered 2025-03-13 (Reg. No. 25-0300023-0001); registration ordered struck/discharged upon issuance of the Receiver's Certificate. · page: 9 · as of: 2019-09-13 · debtor: MVP Group Corporation · creditor: BDC (Business Development Bank of Canada) · currency: CAD · security: Movable Hypothec (Reg. No. 19-1035404-0001) on universality of all present/future movable property, corporeal and incorporeal, of the Debtor; registered amount $900,000.00 (registration ceiling, not a stated outstanding balance)
- secured creditorsnote: Component of IQ's total registered security; see also separate 2022 IQ hypothec entry - amounts not summed per document, no aggregate balance stated. · page: 9 · as of: 2020-09-08 · debtor: MVP Group Corporation · creditor: IQ (Investissement Québec) · currency: CAD · security: Movable Hypothec (Reg. No. 20-0899770-0001) on universality of all present/future movable property, corporeal and incorporeal, regardless of nature or location; registered amount $5,000,000.00 (registration ceiling, not a stated outstanding balance)
- secured creditorsnote: Amended twice on 2022-07-14 (Reg. Nos. 22-0776398-0001 and 22-0776695-0001, no amounts stated); Prior Notices of Sale Under Judicial Authority registered 2025-05-01 (Reg. Nos. 25-0536525-0001 and -0002); registration ordered struck/discharged upon issuance of the Receiver's Certificate. · page: 9 · as of: 2022-06-22 · debtor: MVP Group Corporation · creditor: IQ (Investissement Québec) · currency: CAD · security: Movable Hypothec (Reg. No. 22-0687509-0001) on universality of all present/future movable property, corporeal and incorporeal, regardless of nature or location; registered amount $2,500,000.00 (registration ceiling, not a stated outstanding balance)
- secured creditorsnote: TD Bank is being ordered to file a certificate of release to strike this registration as part of the sale to the Petitioner (to whom TD's rights under the movable hypothec were separately ceded); this Bank Act notice is a distinct filing from the ceded hypothec. · page: 10 · as of: 2014-01-22 · debtor: MVP Group Corporation · creditor: The Toronto-Dominion Bank · currency: CAD · security: Notice of intention under section 427 of the Bank Act (registration/filing No. 01289868); no amount stated