Ontario · CCAA
Report of the Proposed Monitor, dated March 27, 2024
Pre-filing report · 27 March 2024
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 filing39 verified
- secured creditorsnote: Floorplan Lender · page: 9 · as of: 2024-03-22 · amount: 33800000 · debtor: Applicants (Pride Group, various entities) · creditor: BMO Harris Bank, N.A. · currency: USD · security: Floorplan Financing facility (vehicle inventory)
- secured creditorsnote: Floorplan Lender · page: 9 · as of: 2024-03-22 · amount: 88300000 · debtor: Applicants (Pride Group, various entities) · creditor: Mitsubishi HC Capital Canada, Inc. · currency: CAD · security: Floorplan Financing facility (vehicle inventory)
- secured creditorsnote: Floorplan Lender - separate EV equipment facility · page: 9 · as of: 2024-03-22 · amount: 4700000 · debtor: Applicants (Pride Group, various entities) · creditor: Mitsubishi HC Capital Canada, Inc. · currency: CAD · security: Floorplan Financing facility - EV Equipment
- secured creditorsnote: Floorplan Lender - syndicate · page: 9 · as of: 2024-03-22 · amount: 108400000 · debtor: Applicants (Pride Group, various entities) · creditor: Syndicate Lenders · currency: CAD · security: Floorplan Financing facility (vehicle inventory)
- secured creditorsnote: Leaseline Lender - syndicate (Canada) · page: 9 · as of: 2024-03-22 · amount: 213000000 · debtor: Applicants (Pride Group, various entities) · creditor: Syndicate Lenders - Canada · currency: CAD · security: Wholesale Leaseline Financing facility
- secured creditorsnote: Leaseline Lender - syndicate (USA) · page: 9 · as of: 2024-03-22 · amount: 62000000 · debtor: Applicants (Pride Group, various entities) · creditor: Syndicate Lenders - USA · currency: USD · security: Wholesale Leaseline Financing facility
- secured creditorsnote: Leaseline Lender · page: 9 · as of: 2024-03-22 · amount: 5000000 · debtor: Applicants (Pride Group, various entities) · creditor: First America Equipment · currency: USD · security: Wholesale Leaseline Financing facility
- secured creditorsnote: OEM Lender · page: 9 · as of: 2024-03-22 · amount: 193000000 · debtor: Applicants (Pride Group, various entities) · creditor: Daimler Truck Financial · currency: CAD · security: OEM Financing facility - Canada
- secured creditorsnote: OEM Lender - EV facility · page: 9 · as of: 2024-03-22 · amount: 3300000 · debtor: Applicants (Pride Group, various entities) · creditor: Daimler Truck Financial · currency: CAD · security: OEM Financing facility - EV (CAD)
- secured creditorsnote: OEM Lender - EV facility · page: 9 · as of: 2024-03-22 · amount: 7600000 · debtor: Applicants (Pride Group, various entities) · creditor: Daimler Truck Financial · currency: USD · security: OEM Financing facility - EV (USD)
- secured creditorsnote: OEM Lender · page: 9 · as of: 2024-03-22 · amount: 69700000 · debtor: Applicants (Pride Group, various entities) · creditor: Daimler Truck Financial · currency: USD · security: OEM Financing facility - USA
- secured creditorsnote: OEM Lender · page: 9 · as of: 2024-03-22 · amount: 46900000 · debtor: Applicants (Pride Group, various entities) · creditor: Paccar Financial Corp · currency: CAD · security: OEM Financing facility - Canada and USA
- secured creditorsnote: OEM Lender · page: 9 · as of: 2024-03-22 · amount: 9800000 · debtor: Applicants (Pride Group, various entities) · creditor: Volvo Financial Services · currency: CAD · security: OEM Financing facility - Canada
- secured creditorsnote: OEM Lender · page: 9 · as of: 2024-03-22 · amount: 16000000 · debtor: Applicants (Pride Group, various entities) · creditor: Volvo Financial Services · currency: USD · security: OEM Financing facility - USA
- secured creditorsnote: Securitization Funder · page: 9 · as of: 2024-03-22 · amount: 218000000 · debtor: Applicants (Pride Group, various entities) · creditor: BNY Trust Company of Canada · currency: CAD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Securitization Funder · page: 9 · as of: 2024-03-22 · amount: 162000000 · debtor: Applicants (Pride Group, various entities) · creditor: Bodkin, a division of Bennington Financial Corp · currency: CAD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Securitization Funder · page: 9 · as of: 2024-03-22 · amount: 40000000 · debtor: Applicants (Pride Group, various entities) · creditor: Canadian Western Bank · currency: CAD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Securitization Funder · page: 9 · as of: 2024-03-22 · amount: 36000000 · debtor: Applicants (Pride Group, various entities) · creditor: ENGS Commercial Finance Co. · currency: USD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Securitization Funder - distinct from Floorplan Lender capacity above · page: 9 · as of: 2024-03-22 · amount: 255000000 · debtor: Applicants (Pride Group, various entities) · creditor: Mitsubishi HC Capital Canada, Inc. · currency: CAD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Securitization Funder · page: 10 · as of: 2024-03-22 · amount: 20000000 · debtor: Applicants (Pride Group, various entities) · creditor: Mitsubishi HC Capital Canada, Inc. · currency: USD · security: Securitization funding - USA
- secured creditorsnote: Securitization Funder capacity · page: 10 · as of: 2024-03-22 · amount: 160000000 · debtor: Applicants (Pride Group, various entities) · creditor: National Bank of Canada · currency: USD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Securitization Funder; related to Arnold corporate structure (Appendix C) · page: 10 · as of: 2024-03-22 · amount: 40000 · debtor: Applicants (Pride Group, various entities) - Arnold structure · creditor: Regions - Arnold · currency: USD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Securitization Funder · page: 10 · as of: 2024-03-22 · amount: 160000000 · debtor: Applicants (Pride Group, various entities) · creditor: Regions · currency: USD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Securitization Funder capacity · page: 10 · as of: 2024-03-22 · amount: 346000000 · debtor: Applicants (Pride Group, various entities) · creditor: Royal Bank of Canada · currency: CAD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Securitization Funder · page: 10 · as of: 2024-03-22 · amount: 67000000 · debtor: Applicants (Pride Group, various entities) · creditor: Versa Bank · currency: USD · security: Securitization funding - proprietary interest in lease receivables and related assets
- secured creditorsnote: Mortgage Lender (CAD tranche) · page: 12 · as of: 2024-03-22 · amount: 29500000 · debtor: Applicants (Pride Group, various entities) · creditor: Bank of Montreal · currency: CAD · security: Mortgages over 7 properties
- secured creditorsnote: Mortgage Lender (USD tranche) · page: 12 · as of: 2024-03-22 · amount: 12700000 · debtor: Applicants (Pride Group, various entities) · creditor: Bank of Montreal · currency: USD · security: Mortgages over 7 properties
- secured creditorsnote: Mortgage Lender; also holds security over Block 6 property (see Block 6 Transaction, p.21) · page: 12 · as of: 2024-03-22 · amount: 17800000 · debtor: Block 6 Holding Inc. (property in Milton, Ontario) / Applicants · creditor: Daimler Truck Financial Services Canada Corporation · currency: CAD · security: Mortgage over 1 property
- secured creditorsnote: Mortgage Lender capacity · page: 12 · as of: 2024-03-22 · amount: 54000000 · debtor: Applicants (Pride Group, various entities) · creditor: National Bank of Canada · currency: CAD · security: Mortgages over 4 properties
- secured creditorsnote: Mortgage Lender (CAD tranche), as Agent · page: 12 · as of: 2024-03-22 · amount: 80500000 · debtor: Applicants (Pride Group, various entities) · creditor: Royal Bank of Canada, as Agent · currency: CAD · security: Mortgages over 7 properties
- secured creditorsnote: Mortgage Lender (USD tranche), as Agent · page: 12 · as of: 2024-03-22 · amount: 43600000 · debtor: Applicants (Pride Group, various entities) · creditor: Royal Bank of Canada, as Agent · currency: USD · security: Mortgages over 7 properties
- secured creditorsnote: Mortgage Lender (CAD tranche) · page: 12 · as of: 2024-03-22 · amount: 50000000 · debtor: Applicants (Pride Group, various entities) · creditor: Roynat Capital · currency: CAD · security: Mortgages over 21 properties
- secured creditorsnote: Mortgage Lender (USD tranche) · page: 12 · as of: 2024-03-22 · amount: 32400000 · debtor: Applicants (Pride Group, various entities) · creditor: Roynat Capital · currency: USD · security: Mortgages over 21 properties
- secured creditorsnote: Facility limit, not outstanding balance · page: 12 · debtor: Pride Logistics (Canada) · creditor: Bank of Nova Scotia · currency: CAD · security: Revolving term equipment financing facility - $25 million facility limit (not a stated balance)
- secured creditorsnote: Facility limit, not outstanding balance · page: 12 · debtor: Pride Logistics (Canada) · creditor: HSBC Bank Canada · currency: CAD · security: Revolving term equipment financing facility - $30 million facility limit (not a stated balance)
- secured creditorsnote: Facility limit, not outstanding balance; distinct facility from Securitization Funder capacity above · page: 12 · debtor: Pride Logistics (Canada) · creditor: Canadian Western Bank · currency: CAD · security: Revolving term equipment financing facility - $20 million facility limit (not a stated balance)
- secured creditorsnote: Facility limit, not outstanding balance · page: 12 · debtor: Pride Logistics (Canada) · creditor: TD Bank · currency: CAD · security: Revolving term equipment financing facility - $30 million facility limit (not a stated balance)
- secured creditorsnote: Facility limit, not outstanding balance · page: 12 · debtor: Applicants (Pride Group, various entities) · creditor: Syndicate Lenders · currency: CAD · security: Non-Revolving Term Loan Facility - $22 million facility limit (not a stated balance)
- secured creditorsnote: Facility limit, not outstanding balance · page: 12 · debtor: Applicants (Pride Group, various entities) · creditor: Syndicate Lenders · currency: USD · security: Non-Revolving Term Loan Facility - US$80 million facility limit (not a stated balance)