Ontario · NOI
Supplement to the First Report of the Proposal Trustee dated July 24, 2026
Court officer report · 24 July 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing13 verified
- financial positionnote: Aggregate net losses of approximately $8.4 million for the 15-month period ended March 31, 2026 (forecast/estimate, not balance sheet totals); total secured indebtedness reported at $31,241,935 as of Filing Date; total assets/liabilities not stated · page: 21 · basis: Debtors' unaudited financial information; not audited or reviewed by Proposal Trustee under CAS/GAAS · scope: Good Natured Products Debtors (collectively: Industrial LP, Industrial GP, Brampton LP, Brampton GP, Packaging Canada LP, Packaging Canada GP, Ontario RE) · currency: CAD
- secured creditorsnote: Operating lender / revolving asset-based lending facility; senior priority per Intercreditor Agreement · page: 21 · as of: NOI filing date · amount: 900000 · debtor: Good Natured Products Debtors (collectively) · creditor: Wells Fargo Capital Finance Corporation Canada · currency: CAD · security: General Security Agreement dated November 15, 2024 over substantially all present and after-acquired personal property, subject to Intercreditor Agreement
- secured creditorsnote: TD issued NOI to enforce security under s.244(1) BIA on June 5, 2026 to Ontario RE and certain guarantors; subject to 2024 Forbearance Agreement · page: 22 · as of: NOI filing date · amount: 12479723 · debtor: Good Natured Real Estate Holdings (Ontario) Inc. / Brampton LP / Brampton GP · creditor: The Toronto-Dominion Bank (TD) · currency: CAD · security: First-ranking mortgage over Brampton Facility, general security agreements, guarantees, assignments of leases and rents
- secured creditorsnote: RBC issued NOI to enforce security under s.244(1) BIA on June 5, 2026; subject to 2024 Forbearance Agreement · page: 23 · as of: NOI filing date · amount: 6162212 · debtor: Good Natured Products Industrial Canada LP (Ayr Facility) · creditor: Royal Bank of Canada (RBC), successor by amalgamation to HSBC Bank Canada · currency: CAD · security: First-ranking mortgage over Ayr Facility, general assignment of rents, general security agreement, guarantees
- secured creditorsnote: Pursuant to side letter between HUK 147 and EDC, priority of HUK 147 and EDC security is reversed in insolvency (EDC subordinate to HUK 147) · page: 24 · as of: NOI filing date · amount: 3600000 · debtor: Good Natured Products Debtors (collectively) · creditor: Export Development Canada (EDC) · currency: CAD · security: Security interests over substantially all personal property and mortgages over Brampton Facility and Ayr Facility, subject to Intercreditor Agreement; supported by guarantees
- secured creditorsnote: Related party: shareholder financing; indebtedness and security subordinate to Wells Fargo, TD, RBC and EDC per Intercreditor Agreement; but ranks ahead of EDC per side letter · page: 24 · as of: NOI filing date · amount: 8100000 · debtor: Good Natured Products Debtors (collectively) · creditor: HUK 147 Limited · currency: CAD · security: General Security Agreement dated November 15, 2024 over substantially all present and after-acquired personal property
- unsecured creditorsnote: Document names no individual unsecured creditors; consists primarily of suppliers of raw materials, packaging, freight/logistics, equipment and service providers; approx. $7.9 million figure quoted elsewhere in report (para 31) as prose approximation · page: 25 · as of: NOI filing date · basis: Proposal Trustee's First Report states unsecured trade indebtedness as of the Filing Date · amount: 7858000 · debtor: Good Natured Products Debtors (collectively) · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Disputed/unadjudicated litigation claim seeking damages plus interest re: supply of resin products; resin was utilized by Industrial LP · page: 25 · as of: 2026-06-29 · basis: Litigation claim - action commenced in Ontario Superior Court of Justice · amount: 431000 · debtor: Good Natured Products (CAD) Inc. (GNP CAD) · creditor: Vinmar Polymers America LLC · currency: USD
- process resultsbids: 2 · lois: 7 · ndas: 49 · note: figures from the 2024 CCAA Proceedings court-approved SISP, reproduced in this report from the Fourth Report of the Monitor dated October 16, 2024 · as of: 2024-10-16 · solicited: 165
- purchaserJones Healthcare Group; Jones Healthcare Group; HUK 149 Limited
- recovery outcomeentries: basis: estimated · quote: Wells Fargo - the indebtedness owing under the Wells Facility is expected to be repaid in full primarily from collections of accounts receivable and the proceeds realized from the sale of the operating assets pursuant to the Asset Purchase Agreement; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: Wells Fargo · creditor name: Wells Fargo · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: TD - the indebtedness secured by the Brampton Facility is expected to be repaid in full primarily from the proceeds of sale of the Brampton Facility pursuant to the Real Property APS; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: TD · creditor name: TD · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: HUK 147 - the secured shareholder indebtedness owing to HUK 147 ranks behind the senior secured indebtedness pursuant to the Intercreditor Agreement. The Proposal Trustee understands that HUK 147 is expected to recover only from any residual value remaining after payment of the senior secured creditors and is projected to incur a significant shortfall; and · pct of: unstated · outcome: shortfall · class key: secured · stated by: proposal_trustee · class label: HUK 147 · creditor name: HUK 147 · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: EDC - pursuant to the Intercreditor Agreement, EDC ranks behind HUK 147 and based on the current estimated realizations, is expected to receive little or no recovery. · pct of: unstated · outcome: nil · class key: secured · stated by: proposal_trustee · class label: EDC · creditor name: EDC · interim final: unstated · claims qualifier: unstated · table missing:
- sale advisorCapital West Partners
- sale outcometext: The Asset Purchase Agreement, Real Property APS and Interim Lease have been fully negotiated and substantially complete and will be executed shortly · scope: parcel · status: pending_approval