Ontario · CCAA
Third Report of the Proposal Trustee dated October 3, 2025.pdf
Court officer report · 3 October 2025
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 filing5 verified
- financial positionnote: Companies were insolvent as at July 31, 2025 (7-month consolidated financial statements) and remain insolvent, with liabilities exceeding $5 million; no asset total or specific liability total stated. · basis: Companies' consolidated financial statements (unaudited), reviewed but not verified by the Proposed Monitor · scope: consolidated - Walgre Transport Inc. and 2793309 Ontario Ltd. · currency: CAD
- operational summaryThe Companies continue ordinary course trucking/logistics operations while executing a restructuring plan involving returning non-essential equipment, renegotiating lease amortization with lessors/financiers, marketing the Mississauga head office property for sale (expected to close December 15, 2025), and relying on DIP financing to fund operations as they transition from NOI proceedings into proposed CCAA proceedings.
- professional feesnote: Comprised of fees and expenses of $182,013.22 and HST of $23,661.71; Chaitons LLP (counsel to Proposal Trustee) separately incurred $29,335.00 in fees and disbursements plus HST of $3,813.55, totaling $33,148.55, for services July 9-September 30, 2025; additional Fee Accrual of $25,000 (plus HST) estimated to complete administration. · party: Grant Thornton Limited (Proposal Trustee) · amount: 205674.91 · period: June 23, 2025 to September 30, 2025 · currency: CAD
- report date3 October 2025
- report noThird Report of the Proposal Trustee / Pre-Filing Report of the Proposed Monitor