Ontario · CCAA
Fifth Report of the Monitor dated October 8, 2026
Court officer report · 8 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 filing12 verified
- secured creditorsnote: Report states the Consenting Stakeholders represent 97% of 'a group of secured lenders with approximately $431.8 million of debt' at the time the RSA was entered into; no balance date is stated. Report currency is USD unless noted. The lenders are not individually named on these pages. Secured debt was dealt with via the stalking horse transaction (Consenting Stakeholders were the stalking horse bidders), which closed March 3, 2025. · page: 8 · amount: 431800000 · debtor: Sandvine entities · creditor: Secured lenders group (Consenting Stakeholders held 97% of the group) · currency: USD
- financial positionnote: The Monitor states: 'substantially all of the business, assets and material contracts of Sandvine were sold, transferred, and/or assigned to the NewCos'; the Transition Contracts 'have no further value'; the Remaining Sandvine Entities 'have no further business or material assets' and 'it is not expected that there will be funds available for distribution to creditors.' Cash reserves held by the Monitor as at September 30, 2026: US$650,763 and CAD$38,698 under the Administrative Expense Reserve, and US$1.5 million under the Transition Services Fees Reserve; these were funded by NewCos and unused portions are to be returned to NewCos, so they are not estate assets available to creditors. · page: 12 · basis: No balance sheet or statement of affairs stated in the report; this is a termination-stage monitor report. · scope: Remaining Sandvine Entities (six legal entities) post-closing of the Transactions · currency: USD
- cash on handnote: No single cash total is stated; the Monitor holds reserve balances: US$650,763 and CAD$38,698 under the Administrative Expense Reserve, and US$1.5 million under the Transition Services Fees Reserve. · as at: 2026-09-30 · currency: USD · qualifier: approximately
- closing confirmedscope: substantially all of the business, assets and material contracts of Sandvine · outcome: completed · effective: 2025-03-03 · purchaser: NewCos (AppLogic Networks group) · date basis: stated · approval order date: 2025-01-30
- operational summaryThe business was sold to the NewCos (AppLogic Networks) in March 2025 and the remaining entities have no further business or material assets. All Transition Services Agreement services are complete or no longer required, so the Applicants seek to terminate the CCAA proceedings, discharge the Monitor, and permit assignments in bankruptcy for the Remaining Sandvine Entities.
- professional feesnote: Excludes disbursements and HST. Monitor's counsel Cassels Brock & Blackwell LLP fees for the same period total CAD$148,964.00. A fee accrual of up to $300,000 (including disbursements, excluding sales taxes) is sought to complete the administration of the proceedings. · party: AlixPartners Restructuring, Inc. (Monitor) · amount: 79486.5 · period: January 1, 2026 to September 30, 2026 · currency: CAD
- purchaserConsenting Stakeholders
- report date8 October 2026
- report noFifth Report
- sale advisorGLC Advisors & Co., LLC and GLC Securities, LLC
- sale outcometext: The Stalking Horse Transaction Agreement was the successful bid, was approved by the AVO on January 30, 2025 and closed on March 3, 2025; the restructured business emerged as NewCos under the AppLogic Networks group. · scope: whole_business · status: closed
- stalking horseConsenting Stakeholders