Ontario · CCAA
Fourth Report of the Monitor
Court officer report · 25 September 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
- secured creditorsnote: Post-filing court-approved DIP facility, not pre-filing secured debt. Drawn balance not stated on these pages. Facility limit of $7,000,000 is a commitment, not an outstanding amount. · page: 3 · debtor: Freshstone Brands Inc. · creditor: Garrington Financial Services Inc. (DIP Lender) · currency: CAD · security: DIP Facility Loan Agreement dated June 8, 2026; DIP Lender 'has agreed to advance up to $7 million' (a facility limit, not a drawn balance)
- secured creditorsnote: Report states only, in a footnote, that 'Mr. Burdzy is both a secured creditor and the Chief Executive Officer of the Applicant.' No amount, security or ranking stated. Related party (CEO and stalking-horse investor). · page: 3 · debtor: Freshstone Brands Inc. · creditor: Mr. Frank Burdzy (Chief Executive Officer of the Applicant; Investor under the Subscription Agreement / stalking horse) · currency: CAD
- professional feesnote: Comprises $551,582.00 fees and $40,435.10 disbursements, excluding applicable taxes. Monitor's Counsel (Osler, Hoskin & Harcourt LLP) fees and disbursements are a further $168,338.10 ($156,921.00 fees and $11,417.10 disbursements), also excluding applicable taxes. · party: Monitor (Deloitte Restructuring Inc.) · amount: 592017.1 · period: from commencement of the CCAA Proceedings to September 19, 2026 · currency: CAD
- purchaserMr. Frank Burdzy
- report date25 September 2026
- report noFourth Report
- sale advisorGlassRatner Advisory Canada Inc.
- sale outcometext: On June 18, 2026 the Court approved the SISP with the Subscription Agreement as stalking horse bid; a sale approval motion was being prepared as of September 2026 per the counsel fee detail. · scope: whole_business · status: process_approved
- stalking horseMr. Frank Burdzy