Alberta · CCAA
Fourth Report of the Monitor
Court officer report · 21 August 2026
Also filed as: Fourth Report of the Monitor
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 filing9 verified
- secured creditorsnote: Disputed claim; originally asserted as property/secured claim, disallowed by Monitor July 3, 2026 then subject to Claim Settlement Agreement dated effective August 20, 2026 treating claim as secured against both FUM Canada and FUM US for USD $679,038.40 plus USD $25,000 legal fees; presented as 'under review' pending Court approval of settlement; CAD conversion based on BoC noon rate 1.3688 as of April 23, 2026, exclusive of fees/costs/disbursements · page: 9 · as of: as revised June 15, 2026 / under review as of Report date · amount: 929467.78 · debtor: FUM Canada and FUM US · creditor: Clear Finance Technology Corp. (Clearco) · currency: CAD · security: Claim asserted against receivables under two agreements dated November 26, 2025 and December 23, 2025; originally USD $679,038.40
- unsecured creditorsnote: Document names no individual creditor · page: 12 · as of: date of this Report (August 21, 2026) · basis: 1 late unsecured claim under review · amount: 7000 · debtor: RDFN FUM Natural Products Ltd. and/or RDFN FUM Natural Products Inc. · creditor: Late unsecured claim under review · currency: CAD
- unsecured creditorsnote: Document names no individual creditors; figures in $CAD 000's per table header · page: 12 · as of: date of this Report (August 21, 2026) · basis: Summary of Proof of Claims Received - 40 unsecured claims accepted by the Monitor as submitted or NORD unopposed · amount: 5719000 · debtor: RDFN FUM Natural Products Ltd. and/or RDFN FUM Natural Products Inc. · creditor: Unsecured creditors (accepted, aggregate as reported) · currency: CAD
- unsecured creditorsnote: Document names no individual creditors · page: 12 · as of: date of this Report (August 21, 2026) · basis: 4 unsecured claims filed after the Claims Bar Date, admitted for review and accepted by the Monitor in consultation with the Company · amount: 178000 · debtor: RDFN FUM Natural Products Ltd. and/or RDFN FUM Natural Products Inc. · creditor: Late Unsecured Claims (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Personal guarantee claims by Daniel Odgen, Braeden Pauls, and Josiah Pauls as guarantors of the BDC Loan; contingent on BDC's recovery from the Companies and amount guarantors called upon to pay; individual names noted here per guarantor role · page: 12 · as of: date of this Report (August 21, 2026) · basis: 3 contingent unsecured claims accepted by the Monitor, each guarantor accepted at $312,127 · amount: 936000 · debtor: RDFN FUM Natural Products Ltd. and/or RDFN FUM Natural Products Inc. · creditor: Contingent Unsecured Claims - Personal Guarantors to BDC Loan (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Document names no individual creditors; subject to change upon issuance/acceptance of NORDs · page: 12 · as of: date of this Report (August 21, 2026) · basis: 2 unsecured claims remaining under review/adjudication in the Claims Process · amount: 2239000 · debtor: RDFN FUM Natural Products Ltd. and/or RDFN FUM Natural Products Inc. · creditor: Unsecured claims under review (aggregate as reported) · currency: CAD
- secured creditorsnote: 1 secured claim accepted in the Claims Process · page: 13 · as of: date of this Report (August 21, 2026) · amount: 551724 · debtor: RDFN FUM Natural Products Ltd. and/or RDFN FUM Natural Products Inc. · creditor: Wayflyer Financial DAC · currency: CAD
- unsecured creditorsnote: NORD issued August 12, 2026; Notice of Dispute filed August 19, 2026; disputed and unadjudicated as of Report date · page: 13 · as of: as of the date of this Report · basis: Disputed property claim asserting an interest in FUM's intellectual property, no value ascribed · debtor: FUM's intellectual property (unspecified debtor entity) · creditor: Janai Whelan (property claim) · currency: CAD
- recovery outcomeentries: basis: plan · quote: Affected Secured Creditors would receive pro rata distributions approximating $1.3 million, in aggregate, and representing approximately 85% of the Affected Secured Claims, through payments made under the Secured Initial Distribution and Secured Pro Rata Installments. · pct of: unstated · outcome: distribution · pct low: 85 · pct high: 85 · class key: secured · stated by: monitor · amount low: 1300000 · amount high: 1300000 · class label: Affected Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: While the recovery under the Plan is lower than the estimated high end of recovery to Affected Secured Creditors under a liquidation scenario (91%), · pct of: unstated · outcome: distribution · pct low: 91 · pct high: 91 · class key: secured · stated by: monitor · class label: Affected Secured Creditors · interim final: unstated · conditional on: best-case scenario in a liquidation; recovery cannot be guaranteed · claims qualifier: unstated; basis: liquidation_alternative · quote: If the Affected Creditors do not approve the Plan, the likely scenario would be liquidation proceedings, under which FUM Canada's unsecured creditors would be anticipated to receive no distributions. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Affected Unsecured Creditors · interim final: unstated · conditional on: if the Affected Creditors do not approve the Plan · claims qualifier: unstated; basis: plan · quote: Convenience Class Creditors with claims less than $2,500 will receive 100% of their respective claim. · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: monitor · class label: Convenience Class Creditors · interim final: unstated · conditional on: claims less than $2,500 · claims qualifier: unstated; basis: plan · quote: Unsecured Creditors who are not Convenience Class Creditors will receive pro rata monthly payments up to a maximum of $330,000, in aggregate, over an 11-month period. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount high: 330000 · class label: Affected Unsecured Creditors who are not Convenience Class Creditors · interim final: unstated · conditional on: pro rata monthly payments up to a maximum of $330,000 in aggregate over an 11-month period · claims qualifier: unstated · stated on: 2026-08-21 · table missing: