Ontario · NOI
Motion Record, returnable February 13, 2026 (February 10, 2026)
Application / notice of application · 10 February 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 filing11 verified
- applicantJointCraft Inc.
- courtSUPERIOR COURT OF JUSTICE
- court file noBK-26-03318323-0031
- provinceONTARIO
- appointeeHarris & Partners, Inc.
- appointee roleProposal Trustee
- financial positionnote: Approximate total liabilities of ~$10.2 million comprising: ~$3.5 million (First Promissory Note, secured, 115 Ontario), $650,000 (Second Promissory Note, secured, 115 Ontario), and ~$6.1 million unsecured liabilities (including ~$4.7 million owing to shareholders on unsecured loans). No total assets figure stated on these pages. · page: 18 · as at: 2026-01-09 · basis: unaudited, management/affidavit estimate (approximate) per Affidavit of John Prentice sworn February 10, 2026 · scope: JointCraft Inc. (single entity) · currency: CAD · total liabilities: 10200000
- secured creditorsnote: Related-party lender and eventual Stalking Horse/DIP Lender. Stated as 'approximately $3.5 million, plus all accrued and accruing interest' in affidavit; note itself sets principal at exactly $3,500,000.00 with interest accruing at 9% per annum from April 1, 2023 (accrued interest of $373,228.63 as of the note's October 10, 2024 date); matures October 2027. Demand and s.244 Notice issued December 30, 2025. · page: 18 · as of: 2026-01-09 · amount: 3500000 · debtor: JointCraft Inc. · creditor: 1158667 Ontario Ltd. ("115 Ontario") · currency: CAD · security: General Security Agreement dated October 10, 2024 - first ranking general and continuing security interest over all present and after-acquired property, assets and undertaking (First Promissory Note, principal CAD$3,500,000.00 dated October 10, 2024)
- secured creditorsnote: No input materials currently held at Vaughan Facility; Motif Labs Ltd. has served notice under its agreement that it will not renew and will not send further input materials - security effectively unsupported by collateral going forward. · page: 19 · debtor: JointCraft Inc. · creditor: Motif Labs Ltd. (subsequently acquired by Organigram Global) · currency: CAD · security: PPSA registration limited to input materials set out in fulfillment agreement with JointCraft
- secured creditorsnote: Related-party lender. Interest at 7.5% per annum; matured March 31, 2025 (past maturity/in default as of NOI filing). Demand and s.244 Notice issued December 30, 2025. · page: 19 · as of: 2026-01-09 · amount: 650000 · debtor: JointCraft Inc. · creditor: 1158667 Ontario Ltd. ("115 Ontario") · currency: CAD · security: General Security Agreement dated October 10, 2024 (Second Promissory Note, principal CAD$650,000.00 dated October 10, 2024)
- secured creditorsnote: Provincial tax indebtedness / deemed-trust class claim; amount not stated. · page: 20 · debtor: JointCraft Inc. · creditor: His Majesty in Right of Ontario, represented by the Minister of Finance · currency: CAD · security: PPSA registration with respect to certain tax liabilities