Ontario · CCAA
Motion Record (Returnable November 9, 2026)
Application / notice of application · 2 November 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 filing5 verified
- secured creditorsnote: Labelled 'Secured Creditor' on the service list only; no amount, security or basis is stated in these pages. · page: 5 · creditor: His Majesty in Right of Ontario, represented by the Minister of Finance · currency: CAD
- secured creditorsnote: Court-ordered charge securing the post-filing D&O indemnity, not a pre-filing security interest. To be terminated at the CCAA Termination Time. · page: 67 · debtor: XTM Inc. and Everyday People Payments Inc. · creditor: Directors and officers of the Applicants (Directors' Charge) · currency: CAD · security: Directors' Charge on the Property, ranking third; maximum $100,000 (a charge ceiling, not a balance).
- secured creditorsnote: Court-ordered priority charge for professional fees, not a pre-filing security interest. To be terminated at the CCAA Termination Time. · page: 72 · debtor: XTM Inc. and Everyday People Payments Inc. · creditor: Fuller Landau, counsel to the Monitor, counsel to the Applicants and the CRO (Administration Charge) · currency: CAD · security: Administration Charge on the Property, ranking first; maximum $750,000 (a charge ceiling, not a balance).
- secured creditorsnote: No outstanding balance stated on these pages. The DIP Financing secured by the DIP Charge was used by the Purchaser as a credit bid under the APA, so the DIP Charge is to be discharged post-closing (Sale Transaction closed October 29, 2026). Court-ordered charge, not a pre-filing security interest. · page: 73 · debtor: XTM Inc. and Everyday People Payments Inc. (joint and several borrowers) · creditor: Pateno Payments Inc. (DIP Lender) · currency: CAD · security: DIP Lender's Charge on the Property, ranking second behind the Administration Charge. Facility cap: principal not to exceed $8,000,000 plus post-Filing Date Chargebacks received by the DIP Lender, plus interest, fees and expenses (a facility limit, not a balance).
- unsecured creditorsnote: This is the amount stated in NRG's pleading (page 121). It is asserted as a trust and fiduciary claim over client funds held in a single pooled account, not an ordinary unsecured claim. It is not an adjudicated figure. A written demand for repayment was made on or around February 7, 2026. The pleading states total pooled client float of approximately CAD $12,000,000, of which approximately 75% was no longer available, across approximately 4,000 clients (NRG and the Northland Affiliates being the largest). · page: 121 · as of: 2026-01-30 · basis: Acknowledgement of Debt signed by XTM on February 2, 2026, stating XTM was indebted to NRG in the aggregate amount of $2,161,647.07 as of January 30, 2026, for Deposited Funds not loaded onto Employee Cards. · amount: 2161647.07 · debtor: XTM Inc. · creditor: Northland Restaurant Group Inc. (NRG) and the Northland Affiliates · currency: CAD