Nova Scotia · NOI
First Report of the Proposal Trustee
Court officer report · 28 July 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 filing15 verified
- courtIN THE SUPREME COURT OF NOVA SCOTIA
- applicantAllumiqs Solutions Inc. and Allumiqs Corporation
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date3 July 2026
- secured creditorsnote: This is proposed DIP (post-filing) financing, not a pre-filing secured creditor; included for completeness per Table 1 details but is not part of pre-filing capital structure · page: 3 · as of: NOI filing date / DIP term sheet · amount: 550000 · debtor: Allumiqs Corporation and Allumiqs Solutions Inc. (joint and several borrowers) · creditor: 4833651 Nova Scotia Limited and Shawn Weadock (DIP Lender) · currency: CAD · security: DIP Charge over all present and future assets, property and undertakings of both Companies, up to $600,000 (post-filing financing, not pre-filing capital structure)
- statutory basissection 50.4 of the Bankruptcy and Insolvency Act, RSC 1985, c B-3
- secured creditorsnote: Government agency asserting set-off rights against CRA tax refunds owed to Solutions pending; regulatory/government claimant; amount of underlying default not stated in these pages · page: 6 · debtor: Allumiqs Solutions Inc. and Allumiqs Corporation · creditor: Canada Economic Development for Quebec Regions · currency: CAD · security: Suretyship agreement / guarantee; sent notice of default and demand for payment to Solutions and demand for payment on Corporation's guarantee
- secured creditorspage: 13 · debtor: Allumiqs Solutions Inc. · creditor: BDC · currency: CAD · security: Security asserted over accounts, tax credit receivables and equipment (existing/asserted secured claim); final claims/priority review not yet completed
- secured creditorsnote: IQ has already advanced $452,590 against Solutions' SR&ED claims (advance amount, not a balance owed by debtor); final claims/priority review not yet completed · page: 13 · debtor: Allumiqs Solutions Inc. · creditor: Investissement Québec (IQ) · currency: CAD · security: Security interest over SR&ED tax credit receivable / claims; asserted first ranking security interest over 2025 SR&ED refund
- secured creditorsnote: Equipment financier · page: 13 · debtor: Allumiqs Solutions Inc. · creditor: De Lage Landen · currency: CAD · security: Security asserted over accounts, tax credit receivables and equipment (existing/asserted secured claim); final claims/priority review not yet completed
- secured creditorsnote: Also engaged as major stakeholder in restructuring discussions; life insurance policies on certain individuals name BMO as having first claim on proceeds (per cash flow forecast note) · page: 13 · debtor: Allumiqs Solutions Inc. · creditor: BMO · currency: CAD · security: Security asserted over accounts, tax credit receivables and equipment (existing/asserted secured claim); final claims/priority review not yet completed
- secured creditorsnote: Equipment financier · page: 14 · debtor: Allumiqs Corporation · creditor: De Lage Landen · currency: CAD · security: Security asserted over present and after-acquired personal property and related collateral; final claims/priority review not yet completed
- secured creditorspage: 14 · debtor: Allumiqs Corporation · creditor: BDC · currency: CAD · security: Security asserted over present and after-acquired personal property and related collateral; final claims/priority review not yet completed
- secured creditorsnote: Individual secured creditor; possibly related party (not specified in text) · page: 14 · debtor: Allumiqs Corporation · creditor: Neil Smith · currency: CAD · security: Security asserted over present and after-acquired personal property and related collateral; final claims/priority review not yet completed