Ontario · CCAA
First Report of the Monitor
Court officer report · 31 August 2025
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What we verified from this filing3 verified
- secured creditorsnote: Referred to as holder of 'pre-filing secured debt' of the Company alongside RBC, with principal and interest disbursements contemplated pursuant to the Initial Order (Comeback Cash Flow Forecast, para 15(d), p.11; forecast note 7, p.10). Pure Flavor is also party to a ROFO/ROFR Agreement dated April 22, 2024 granting rights to purchase AMCO Farms' shares or assets (p.20). Nature/amount/registration details of Pure Flavor's security are not specified in the provided excerpts. · page: 11 · debtor: AMCO Farms Inc. · creditor: Pure Flavor Farms LP (through its general partner, Pure Flavor Farms GP Inc.) · currency: CAD
- secured creditorsnote: Identified in the First Report as the Applicants' 'senior secured pre-filing creditor' (para 2(c), p.4) and DIP Lender. No outstanding balance for the pre-filing RBC debt is stated in the provided excerpts; the dollar figures listed (mortgages, guarantees, GSAs) are registered/instrument amounts or guarantee ceilings, not confirmed balances. Includes a personal guarantee (Bank Form 812, $2,500,000, dated July 2, 2021 and October 5, 2018) from Fausto Amicone, a related-party individual (director/principal) — guarantor identity noted here per personal-guarantor rule, not as a separate corporate creditor. · page: 122 · debtor: AMCO Farms Inc. (guaranteed by AMCO Produce Inc., AMCO Storage Inc., AMCO Express Inc., and Fausto Amicone) · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General Security Agreement (Bank Form 924) dated July 2, 2021 over all present and after-acquired property of AMCO Farms Inc.; 'First Mortgage Loan' of $30,000,000 (loan agreement July 20, 2021); 'Second Mortgage Loan' of $1,500,000 (loan agreement August 31, 2022); Collateral mortgage registered for up to $65,000,000 against the Leamington Farmland Property (Instrument No. CE1021372, registered July 21, 2021); Collateral mortgage registered for up to $2,000,000 against the Leamington Mersea Road Property (Instrument No. CE1101881, registered September 20, 2022) with related notice of assignment of rents; General Security Agreements (Bank Form 924) from Amco Produce Inc. (July 2, 2021) and Amco Storage Inc. (October 5, 2018); Guarantees and postponements of claim (Bank Form 812) from Amco Storage Inc., Amco Produce Inc. and Amco Express Inc. in tranches of $34,100,000, $4,100,000 and $4,630,000 each; Postponements/assignments of claim (Bank Form 918) from Amco Storage Inc. and 1382311 Ontario Limited; Credit Facilities Payout and Termination Agreement dated June 26, 2024.
- sale outcometext: SISP proposed for approval by the Court, not yet approved as of this report · scope: whole_business · status: process_approved