Quebec · CCAA
Rapport du Contrôleur proposé (en anglais seulement)
Pre-filing report · 10 December 2024 · French
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 filing33 verified
- secured creditorsnote: Secured creditor of certain entities not related to the Applicants generally; amount not stated · page: 9 · debtor: Certain entities of the ELNA Group, including La Cité Médicale Inc. (LCM) · creditor: Fiera · currency: CAD
- financial positionnote: Full financial statement analysis filed under seal as Schedule C; only accounts payable/accrued liabilities ($25.3 million) and bank indebtedness/long-term debt/capital lease obligations ($67 million, comprised of secured creditors totaling $52,177K plus other items) disclosed on the face of the report; no consolidated total assets/liabilities figure stated in unsealed portion · page: 12 · as at: 2024-08-31 · basis: Unaudited consolidated financial statements reviewed by Proposed Monitor · scope: Consolidated - Applicants (ELNA Group) · currency: CAD
- secured creditorsnote: Other secured creditors not related to the Applicants, unnamed individuals; amount not stated · page: 12 · debtor: ELNA Group · creditor: Certain individuals (unnamed) · currency: CAD
- secured creditorsnote: Other secured creditor not related to the Applicants; amount not stated · page: 12 · debtor: ELNA Group · creditor: K&S Financial Group Inc. · currency: CAD
- secured creditorsnote: Other secured creditor not related to the Applicants; amount not stated · page: 12 · debtor: ELNA Group · creditor: Les Placements SP Canada Inc. · currency: CAD
- secured creditorsnote: Other secured creditor not related to the Applicants; amount not stated · page: 12 · debtor: ELNA Group · creditor: 143 Canada · currency: CAD
- secured creditorsnote: Other secured creditor not related to the Applicants; amount not stated · page: 12 · debtor: ELNA Group · creditor: Crawford & Finchley Capital · currency: CAD
- unsecured creditorspage: 12 · as of: 2024-08-31 · basis: Accounts payable and accrued liabilities table as reported (unaudited) · amount: 2225000 · debtor: Medicentres · creditor: Trade payables - Physicians (Medicentres) · currency: CAD
- unsecured creditorspage: 12 · as of: 2024-08-31 · basis: Accounts payable and accrued liabilities table as reported (unaudited) · amount: 572000 · debtor: m-Health · creditor: Trade payables - Physicians (M-Health) · currency: CAD
- unsecured creditorspage: 12 · as of: 2024-08-31 · basis: Accounts payable and accrued liabilities table as reported (unaudited) · amount: 288000 · debtor: ELNA Group Quebec clinics · creditor: Trade payables - Physicians (Qc Clinics) · currency: CAD
- unsecured creditorspage: 12 · as of: 2024-08-31 · basis: Accounts payable and accrued liabilities table as reported (unaudited) · amount: 40000 · debtor: ELNA Group · creditor: Trade payables - Physicians (Other) · currency: CAD
- unsecured creditorspage: 12 · as of: 2024-08-31 · basis: Accounts payable and accrued liabilities table as reported (unaudited) · amount: 2921000 · debtor: ELNA Group · creditor: Professional fees payable · currency: CAD
- unsecured creditorspage: 12 · as of: 2024-08-31 · basis: Accounts payable and accrued liabilities table as reported (unaudited) · amount: 2965000 · debtor: ELNA Group · creditor: Clinic construction costs payable · currency: CAD
- unsecured creditorspage: 12 · as of: 2024-08-31 · basis: Accounts payable and accrued liabilities table as reported (unaudited) · amount: 3325000 · debtor: ELNA Group · creditor: Rent payable · currency: CAD
- unsecured creditorspage: 12 · as of: 2024-08-31 · basis: Accounts payable and accrued liabilities table as reported (unaudited) · amount: 9661000 · debtor: ELNA Group · creditor: Other trade payables · currency: CAD
- unsecured creditorspage: 12 · as of: 2024-08-31 · basis: Accounts payable and accrued liabilities table as reported (unaudited) · amount: 1002000 · debtor: ELNA Group · creditor: Accrued liabilities · currency: CAD
- unsecured creditorsnote: Preferred claim under BIA (wages); updated figure as at Dec 9, 2024 supersedes the Aug 31, 2024 figure of $2,349K · page: 12 · as of: 2024-12-09 · basis: Preliminary information as reported by management · amount: 4900000 · debtor: ELNA Group · creditor: Salaries and vacations payable · currency: CAD
- unsecured creditorsnote: Approximate updated total for trade payables as at Nov 30, 2024, superseding Aug 31, 2024 detailed table · page: 12 · as of: 2024-11-30 · basis: Preliminary information as reported by management · amount: 24000000 · debtor: ELNA Group · creditor: Trade payables (aggregate, updated preliminary) · currency: CAD
- unsecured creditorsnote: Comprises GST/QST approx $654K, corporate income tax approx $4.4M, and Québec fonds des services de santé employer contribution claim approx $485K; may include deemed trust claims · page: 12 · as of: 2024-11-30 · basis: Preliminary information as reported by management · amount: 5500000 · debtor: ELNA Group · creditor: Tax authorities (aggregate) · currency: CAD
- secured creditorsnote: Listed within bank indebtedness, long-term debt and obligations under capital lease total ($66,980K) · page: 13 · as of: 2024-08-31 · amount: 710000 · debtor: ELNA Group · creditor: Hy Bloom · currency: CAD
- secured creditorsnote: Listed under 'Other secured creditors' · page: 13 · as of: 2024-08-31 · amount: 6148000 · debtor: ELNA Group · creditor: Norea · currency: CAD
- secured creditorsnote: First-ranking secured creditor of all Applicants' assets; also providing DIP Financing · page: 13 · as of: 2024-08-31 · amount: 41025000 · debtor: ELNA Group (EMG and m-Health) · creditor: National Bank of Canada (NBC) · currency: CAD · security: First-rank security on all assets of the ELNA Group; comprised of bank indebtedness/overdraft $6,395K, term loan - EMG $22,337K, term loan - m-Health $12,293K
- secured creditorsnote: Approx. $800,000 of the $2.8 million was injected into ELNA Group's cash flow; not included in the $67 million total as at Aug 31, 2024 · page: 13 · as of: since 2024-08-31 · amount: 2800000 · debtor: ELNA Group · creditor: La Corporation McKesson · currency: CAD · security: New secured loan contracted since August 31, 2024
- secured creditorsnote: Listed under 'Other secured creditors' · page: 13 · as of: 2024-08-31 · amount: 344000 · debtor: ELNA Group · creditor: BDC · currency: CAD
- secured creditorsnote: Listed under 'Other secured creditors' · page: 13 · as of: 2024-08-31 · amount: 427000 · debtor: ELNA Group · creditor: RBC · currency: CAD
- secured creditorsnote: Individual secured creditor; listed under 'Other secured creditors' · page: 13 · as of: 2024-08-31 · amount: 2010000 · debtor: ELNA Group · creditor: Jason Rabin · currency: CAD
- secured creditorsnote: Listed under 'Other secured creditors' · page: 13 · as of: 2024-08-31 · amount: 2223000 · debtor: ELNA Group · creditor: Investissement Québec (IQ) · currency: CAD
- secured creditorsnote: Listed within bank indebtedness, long-term debt and obligations under capital lease total ($66,980K) · page: 13 · as of: 2024-08-31 · amount: 2993000 · debtor: ELNA Group · creditor: Décarie Square Commercial Center LP · currency: CAD · security: Obligations under capital lease
- secured creditorsnote: Listed within bank indebtedness, long-term debt and obligations under capital lease total ($66,980K) · page: 13 · as of: 2024-08-31 · amount: 2500000 · debtor: ELNA Group · creditor: ABI USA Investment Inc. · currency: CAD
- unsecured creditorsnote: Portion of other long-term liabilities of $7.2 million; contingent consideration related to prior acquisitions · page: 13 · as of: 2024-08-31 · basis: Reported within other long-term liabilities ($7.2 million total) · amount: 5200000 · debtor: ELNA Group · creditor: Contingent considerations (earn-outs) - m-Health and Evalumedic · currency: CAD
- unsecured creditorsnote: Sought to be secured by MRP Charge · page: 18 · as of: NOI/pre-filing date · basis: Reported by management as amounts due to doctors, related to collections from governmental authorities not yet paid to doctors · amount: 1600000 · debtor: Medicentres · creditor: Medicentres doctors (pre-filing collected but unpaid amounts) · currency: CAD
- unsecured creditorsnote: Projected to be paid upon collection of related accounts receivable · page: 18 · as of: as of date of report · basis: Reported by management · amount: 2000000 · debtor: Medicentres · creditor: Medicentres doctors (accounts receivable to be collected post-filing) · currency: CAD
- unsecured creditorsnote: Projected to be paid in usual course of business; document names no individual creditors · page: 19 · as of: as of date of report · basis: Reported by management · amount: 610000 · debtor: ELNA Group (excluding Medicentres) · creditor: ELNA Group doctors (aggregate) · currency: CAD