Quebec · CCAA
2025-10-28 Ordonnance de Terminaison (Raisons) (en anglais)
Order (other) · 28 October 2025
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 filing8 verified
- secured creditorsnote: Described as one of the most significant secured creditors and unaffected under the CCAA proceedings; also Interim Lender under DIP Facility. Confirmed it would not file conservation notice regarding certain hypothecs on EMG Shares assets. · page: 2 · debtor: Applicants (ELNA Medical Group Inc. et al.) · creditor: National Bank of Canada · currency: CAD · security: DIP Charge / DIP Facility; also registered hypothecs on EMG Shares/assets
- secured creditorsnote: Confirmed it would not file conservation notice; amount not stated in these pages. · page: 4 · debtor: EMG or 9508503 Canada Inc. (re: EMG Shares/entities) · creditor: Investissement Québec · currency: CAD · security: Registered hypothec on EMG Shares/assets
- secured creditorsnote: Confirmed it would not file conservation notice; amount not stated in these pages. · page: 4 · debtor: EMG or 9508503 Canada Inc. (re: EMG Shares/entities) · creditor: McKesson Canada · currency: CAD · security: Registered hypothec on EMG Shares/assets
- secured creditorsnote: Confirmed it would not file conservation notice; amount not stated in these pages. · page: 4 · debtor: EMG or 9508503 Canada Inc. (re: EMG Shares/entities) · creditor: Placements SP · currency: CAD · security: Registered hypothec on EMG Shares/assets
- secured creditorsnote: Monitor's recognized amount from preliminary review of updated statement of account (capital, interest at 11%, management fees at 0.75% of original loan, plus taxes), proposed as payment under protest as secured claim, without admission as to collocation or other contested amounts. Original loan principal was approximately $6,148,000 as of Initial Application date (Dec 11, 2024). Norea had earlier submitted a credit bid alleging secured claim of $9,275,639 as of March 31, 2025, which Monitor disputed (early repayment penalty and default interest not recognized). Separate $2,000,000 Norea Claim Reserve established for contested portions. Agreement reached between Norea and NBC on Oct 21, 2025 as to distribution of reserve; no adjudication required. · page: 5 · as of: 2025-07-17 · amount: 8320597.78 · debtor: Former MHS Inc. (formerly m-Health Solutions Inc.) · creditor: Norea (formerly Fonds Croissance PME Banque Nationale S.E.C.) · currency: CAD · security: General security agreement (Ontario law) and movable hypothec (Quebec law) granted by m-Health in favour of Norea
- unsecured creditorsnote: Deemed trust / priority claim class; Monitor reviewing to quantify priority amounts for distribution from related reserve; amount not stated in these pages. Some claims by fiscal authorities are unsecured and will not lead to distribution. · page: 6 · as of: 2025-08-25 · basis: Fiscal Authority Claims submitted to Monitor per Distribution Order · debtor: Applicants · creditor: Revenu Québec · currency: CAD
- unsecured creditorsnote: Deemed trust / priority claim class; Monitor reviewing to quantify priority amounts for distribution from related reserve; amount not stated in these pages. Some claims by fiscal authorities are unsecured and will not lead to distribution. · page: 6 · as of: 2025-08-25 · basis: Fiscal Authority Claims submitted to Monitor per Distribution Order · debtor: Applicants · creditor: Canada Revenue Agency · currency: CAD
- presiding officerJustice Martin F. Sheehan