Quebec · CCAA
Eighth Report of the Monitor - October 16, 2026
Court officer report · 16 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 filing5 verified
- unsecured creditorsnote: No aggregate dollar amount is stated. Includes ~12,219 'placeholder' claims (8,018 Bevan & Associates; 4,201 Grunda Walsh); an additional 617 late-filed claims and 42 requests for leave to file late as at October 16, 2026 are excluded. Receipt of a claim is not acceptance of validity or amount. Claims largely contingent/unliquidated and subject to adjudication. · page: 25 · as of: Claims Bar Date (September 10, 2026) · basis: Approximately 38,755 Proofs of Claim received (38,367 net of 388 duplicates); preliminary, unaudited, unverified · debtor: Asbestos Corporation Limited · creditor: Existing Asbestos Claimants (aggregate Proofs of Claim filed) · currency: USD
- secured creditorsnote: Amount is approximate ('approximately $27.0 million') and is the secured Non-Asbestos Proof of Claim filed by Mazarin; the Monitor expresses no determination on validity or quantum. Mazarin is described as ACL's parent company; related party. Currency taken to be CAD (report states '$' for Non-Asbestos Claims, USD shown separately where applicable). · page: 29 · as of: Claims Bar Date (September 10, 2026) · amount: 27000000 · debtor: Asbestos Corporation Limited · creditor: Mazarin Inc. · currency: CAD · security: Security held by Mazarin Inc. over the Debtor's assets (the 'Mazarin Security'); ranks ahead of the proposed Interim Lender's Charge, together with the Administration Charge
- unsecured creditorsnote: Aggregate of three creditors' filed proofs only; no breakdown given on these pages. Includes CRA claim (possible deemed-trust class not stated). Monitor has made no determination on validity or quantum. · page: 29 · as of: Claims Bar Date (September 10, 2026) · basis: Proofs of Claim filed as at the Claims Bar Date; stated as 'unsecured claims totalling approximately $435,000'; individual amounts are in Schedule M, not in the pages provided · amount: 435000 · debtor: Asbestos Corporation Limited · creditor: Canada Revenue Agency, CLMI and Hydro-Québec (Non-Asbestos unsecured Proofs of Claim) · currency: CAD
- unsecured creditorsnote: Unquantified; GD submits quantum should be set at minimum at the aggregate of the Existing Asbestos Claims filed against it. Monitor has made no determination and expresses no view on validity or quantum. · page: 29 · as of: September 9, 2026 · basis: Contingent, precautionary Proof of Claim (Existing Asbestos Claim) filed against the Insurers seeking coverage under GD's liability policies under which ACL was also insured; based on 11 US lawsuits against GD on an alter-ego/successor basis · debtor: Asbestos Corporation Limited · creditor: General Dynamics Corporation · currency: USD
- secured creditorsnote: Post-filing interim (DIP) financing, not a pre-filing debt: entire US$45,000,000 authorized facility had been drawn as at September 30, 2026. Proposed increase to US$75,000,000 facility and US$90,000,000 charge is subject to Court approval. Charge amount (US$54M) is a ceiling, not the balance. · page: 35 · as of: September 30, 2026 · amount: 45000000 · debtor: Asbestos Corporation Limited · creditor: Resolute Management Services Limited (Interim Lender) · currency: USD · security: Interim Lender's Charge, currently US$54,000,000, on all Debtor assets; ranks behind the Mazarin Security and the Administration Charge