Quebec · Interim receivership
Preliminary report filed with the Court (In French only)
Pre-filing report · 23 June 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 filing3 verified
- financial positionnote: Assets limited to the Carrière (quarry) valued at $6,300,000 and accounts receivable of $1,662,477; liabilities include RBC term loan ($5,762,977), RBC guaranteed debt of Excavation National Inc. cautioned by 9403 ($7,667,304), and ordinary creditors ($2,074,005); report states Débitrices are insolvent as liabilities greatly exceed book value of assets · page: 6 · as at: 2026-05-31 · basis: Statutory balance sheet (Bilan Statutaire), book value, prepared from unaudited/internal financial information provided by the Débitrices (no audit performed by proposed Interim Receiver) · scope: Combined - 9403-2216 Québec Inc. and Carrière Sablière Principale Lachute Inc. (collectively the 'Débitrices') · currency: CAD · total assets: 7962477 · total liabilities: 15504286
- secured creditorsnote: Balance is 'Prêts à terme' outstanding per statutory balance sheet as at 2026-05-31; facility limit of $6,125,000 stated separately in credit agreement (para 14); RBC issued s.244 BIA notices to 9403 (2025-10-23) and CSPL (2025-12-03), both waived · page: 6 · as of: 2026-05-31 · amount: 5762977 · debtor: 9403-2216 Québec Inc. (with CSPL as guarantor) · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Term loan facilities under credit agreement dated 2024-09-04 (facility limit $6,125,000 total); Hypothèque mobilière by 9403 on all movable property for $35,000,000 (registration ceiling); Hypothèque immobilière by 9403 on the Carrière for $7,000,000 (registration ceiling); Cautionnement by CSPL up to $35,000,000 plus interest from demand; Hypothèque mobilière by CSPL on all movable property for $35,000,000 (registration ceiling)
- secured creditorsnote: Related-party guaranteed debt: Débitrices guaranteed obligations of related entity Excavation National Inc. (assigned into bankruptcy 2026-06-22) to RBC; amount is the guaranteed debt balance per statutory balance sheet · page: 6 · as of: 2026-05-31 · amount: 7667304 · debtor: Excavation National Inc. (primary debtor); CSPL and 9403-2216 Québec Inc. as guarantors · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Cautionnement (guarantee) by CSPL and 9403 of Excavation National Inc.'s line of credit obligations to RBC