Quebec · CCAA
Application to appoint a Receiver
Application / notice of application · 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 filing1 verified
- secured creditorsnote: Stated as 'Indebtedness' of capital, interest and accrued fees, à parfaire (subject to adjustment). Indebtedness figure covers the Credit Agreement and interim facility as stated by the Applicant; the document does not split the two. Interim Facility authorized up to $1,250,000 (draws: $750,000 on 2026-07-23; $200,000 on 2026-09-02; $400,000 on 2026-09-07; $40,000 on 2026-09-30). Overadvances in default: $1,250,000 December Overadvance (due 2026-04-30) and $475,000 June Overadvance (advanced 2026-06-26). Applicant is the party asserting the figure. The document states that part of the proceeds of in-transit inventory supplied by Unicorn and Maxtrek is held in trust under court-homologated settlements and may result in amounts to be paid to Critical or Essential Suppliers, potentially deteriorating FGI's position; no amounts stated. · page: 5 · as of: 2026-10-07 · amount: 16570353.63 · debtor: La Cie Canada Tire Inc. / Canada Tire Company Inc. (borrower); Canada Supply & Tire NS Inc. and the Granatstein Family Trust (2017) (grantors of security) · creditor: FGI Worldwide LLC (agent and lender under the December 18, 2025 Credit Agreement; also Interim Lender) · currency: CAD · security: First-ranking. Canadian General Security Agreement (all present and after-acquired personal property); Collateral Pledge Agreement (pledged equity); Hypothec dated March 9, 2026, registered RDPRM March 10, 2026 (no. 26-0290525-003), stated amount $30,000,000 at 25% per annum (a registration ceiling, not the balance); Pledge Agreement and Validity Guarantee from Mr. Granatstein. Interim Lender Charge of $1,500,000 granted in the CCAA Initial Order. Credit facility limit up to $30 million (asset-based revolver).