Quebec · NOI
First report of the Trustee
Court officer report · 27 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 filing9 verified
- financial positionnote: Only liabilities are stated (secured $3,194K + unsecured $6,192K = total $9,386K as presented by the document); no balance sheet or total assets given. Asset-related figures appear only in forecast context (e.g., ~$2M inventory at cost not in sales forecast, ~$1.6M firm orders), which are forecast/management figures and not a financial position. · page: 3 · as at: 2026-10-02 · basis: Liabilities summary relying on unaudited Debtor information; Trustee states it has not audited or verified the information (CAS not complied with) · scope: In-Sport Fashions Inc. (single entity) · currency: CAD · total liabilities: 9386000
- secured creditorsnote: Stated as 'Bank indebtedness - RBC' / secured liabilities of $3,194 (in $CAD 000's) as at October 2, 2026. RBC issued a BIA s.244 notice; Debtor waived all delays; forbearance agreement under discussion. Trustee's independent legal opinion on the validity and enforceability of RBC's security is being obtained (pending, not confirmed). Later cash-flow figures show combined revolver and credit cards of $2,924K at Oct 18, 2026 (different date/measure). · page: 3 · as of: 2026-10-02 · amount: 3194000 · debtor: In-Sport Fashions Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Secured operating lender; two revolving credit facilities (CAD and USD denominated) plus credit cards used to fund operating expenses
- unsecured creditorsnote: Stated as 'Unsecured liabilities' of $6,192 (in $CAD 000's). The document names no individual unsecured creditors and does not state proofs of claim filed. · page: 3 · as of: 2026-10-02 · basis: Liabilities summary as at October 2, 2026 in the Proposal Trustee's First Report, based on unaudited Debtor information (not audited or verified) · amount: 6192000 · debtor: In-Sport Fashions Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- cash on handnote: Actual closing cash for the two weeks ended Oct 18/26 ($CAD 000's: 268), against forecast of 25; revolver and credit cards closing at (2,924). · as at: 2026-10-18 · amount: 268000 · currency: CAD
- financial positionnote: Table in $CAD 000's: Bank indebtedness - RBC 3,194; Secured liabilities 3,194; Unsecured liabilities 6,192; Total liabilities 9,386. Total assets are not stated in the document (no balance sheet of assets given; only forecast opening AR/inventory references). · as at: 2026-10-02 · basis: Liabilities summary presented from Company information; Proposal Trustee states it has relied on unaudited financial information and has not audited or verified it. · scope: In-Sport Fashions Inc. (single entity, the debtor company) · currency: CAD · total liabilities: 9386000
- operational summaryThe Company is conducting a wind-down after filing its NOI: it has stopped purchasing inventory, laid off 9 employees (retaining 17), and continues collecting receivables and selling inventory through regular channels, including e-commerce.
- professional feesnote: Forecast only: $300K ($CAD 000's: 300) over the cash flow forecast period; no actual professional fees were paid in the two weeks ended Oct 18/26 (actual nil vs forecast 100). Not a stated incurred total, so amount left null. · party: Company's legal counsel, RBC's legal counsel, the Proposal Trustee and the Proposal Trustee's legal counsel · period: October 19, 2026 to December 20, 2026 (forecast) · currency: CAD
- report date27 October 2026
- report noFirst Report