Ontario · CCAA
Seventeenth Report of the Monitor - 2026.10.15
Court officer report · 15 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 filing10 verified
- unsecured creditorsnote: Document does not itemise creditors in this aggregate. The two largest claims 'by a significant margin' are the Ministry of Finance of Ontario and the Canada Revenue Agency, 'collectively in the hundreds of millions of dollars'. Related-party claims (Page, 265, Brian Page, 11222074 Canada Limited, OTE USA LLC) have been issued Notices of Revision or Disallowance; claim reconciliation ongoing. · page: 12 · basis: Claims filed under the Claims Process, approximate gross value ("approximately $462 million"); filed claims, not adjudicated or admitted · amount: 462000000 · debtor: OTE Group · creditor: Claims filed in Claims Process (aggregate, gross value) · currency: CAD
- unsecured creditorsnote: Amount not stated in this report; part of the ~$462M gross filed claims. Government (tax) claim; priority/deemed-trust status not stated here. · page: 12 · basis: Proof of claim filed in Claims Process; Monitor has 'largely reconciled' the claim and received an amended claim reflecting reconciled figures · debtor: OTE Group · creditor: Ministry of Finance of Ontario · currency: CAD
- unsecured creditorsnote: Amount not stated in this report; part of the ~$462M gross filed claims. Government (tax) claim; priority/deemed-trust status not stated here. · page: 12 · basis: Proof of claim filed in Claims Process; reconciliation still ongoing · debtor: OTE Group · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Disputed; related parties of the Mareva Respondents. Amounts not stated. 265 also claims lease amounts for two trucks, with no lease agreements produced; Monitor does not believe lease payments are appropriate. · page: 13 · basis: Proofs of claim filed; Notices of Revision or Disallowance issued October 15, 2026 · debtor: OTE Group · creditor: Claims of Page-related parties (Glenn Page, 2658658 Ontario Inc., Brian Page, 11222074 Canada Limited, OTE USA LLC) · currency: CAD
- financial positionnote: Ending cash at October 11, 2026 was C$32,789,692 (page 17). Net Yacht Proceeds of approximately US$195,552 are held in trust, with Page asserting an interest (pages 11-12). Ninth Extended Cash Flow Forecast ending cash of C$29,539,343 is a forecast and not financial position. Prior distributions were made to the pre-filing secured lender Royal Bank of Canada and certain equipment lessors (as described on the Sixteenth Report page 29 as reproduced here). · page: 17 · basis: No balance sheet stated. Only cash and trust-fund figures from unaudited cash flow reporting (actual ending cash C$32,789,692 at October 11, 2026; Monitor has not audited the information). · scope: OTE Group (Original Traders Energy Ltd., 2496750 Ontario Inc. and the Limited Partnerships) · currency: CAD
- process resultsbids: 1 · note: only one binding offer received following the Yacht Sale Process listing
- purchaserSecond Act II LLC
- sale advisorMarineMax Inc.
- sale outcometext: Court-approved sale of the Italian Yacht to the Yacht Purchaser for US$1.3 million under the Yacht Sale AVO; the only binding offer received after about four months of listing · scope: parcel · status: approved
- secured creditors