Nova Scotia · NOI
Third Report of the Proposal Trustee
Court officer report · 1 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
- secured creditorsnote: Drawn balance not stated. Reported 'cash' reflects availability under this revolving facility. BMO has filed a motion appealing the Aug 28, 2026 order's priority charges (Admin Charge and DIP Lender's Charge); no confirmation of acceptance for filing. · page: 7 · debtor: Allumiqs Solutions Inc. · creditor: Bank of Montreal (BMO) · currency: CAD · security: Operating facility with credit limit of $600,000 (a facility limit, not an outstanding balance)
- secured creditorsnote: Post-filing interim financing, not pre-filing debt. $75,000 is the first advance received in the week ended Sept 27, 2026; a second $75,000 advance expected in week 12. DIP lender is a related/insider party (insider bid notice received). Charge subject to BMO appeal. · page: 11 · as of: 2026-09-27 · amount: 75000 · debtor: Allumiqs Corporation · creditor: 4833651 Nova Scotia Limited and Shawn Weadock (DIP Lender) · currency: CAD · security: DIP Lender's Charge on the Property (excluding SR&ED credits), ranking second behind the Administration Charge; DIP Charge not to exceed $600,000; DIP facility authorized up to $550,000 principal; charge does not secure obligations existing before August 13, 2026
- secured creditorsnote: Amount owing not stated. Security validity/priority not accepted or confirmed by the Trustee; security opinions (Nova Scotia and Quebec) being obtained. $67,302.52 of the federal SR&ED refund is held in trust by Company counsel pending determination of competing claims. · page: 16 · debtor: Allumiqs Solutions Inc. · creditor: Investissement Québec (IQ) · currency: CAD · security: Asserted security over the SR&ED refund (per IQ's July 31, 2026 letter to the Court); pre-authorized debits attempted July 31, Aug 31 and Sept 30, 2026 in respect of pre-filing indebtedness
- unsecured creditorsnote: Amount shown is the set-off applied, not a remaining balance (CED states debt paid in full). Allumiqs Corp. guaranteed the debt under a suretyship agreement. Validity of the set-off is disputed; Trustee and Companies reserve all rights to challenge it and seek recovery. · page: 16 · as of: 2026-08-07 · basis: Crown set-off: CRA applied $204,992.60 of Solutions' SR&ED refund against debt owed to CED; CED confirmed Sept 11, 2026 that the debt was paid in full · amount: 204992.6 · debtor: Allumiqs Solutions Inc. · creditor: Canada Economic Development for Quebec Regions (CED) · currency: CAD
- sale outcometext: The SISP has been launched and is ongoing; parties have signed NDAs and the Trustee continues diligence ahead of the October 21, 2026 Bid Deadline, with a Successful Bidder to be selected and definitive documents finalized by October 28, 2026 and any approval motion heard on or before November 6, 2026. · scope: whole_business · status: process_approved