Ontario · Receivership (court-appointed)
Third Report of the Monitor
Court officer report · 20 January 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
- financial positionnote: Figures are at fiscal year-end 2023 (September 30, 2023). The 2024 FS separately show liabilities of $13,401,541 at fiscal year-end 2024 (no total assets stated). The Receiver disputes the book value of the 2023 Equipment ($5,834,139 net book value). · as at: 2023-09-30 · basis: Book value per Delviro's 2023 annual financial statements (2023 FS); the Receiver disputes the asset figure, noting the equipment included a seized cigarette rolling machine that should not have been counted and that a May 2024 appraisal valued the equipment at $2,516,500 fair market value, which would put liabilities above assets by over $95,995 · scope: Delviro Inc. (single entity) · currency: CAD · total assets: 14724605 · total liabilities: 11502961
- operational summaryDelviro ceased operations in late February 2025 and has been bankrupt since October 3, 2025; after the June 2025 auction the Receiver expects no further material realizations apart from any funds recovered on its reviewable-transactions motion against related parties.
- recovery outcomeentries: basis: unstated · quote: no distributions are currently contemplated to NBC (owed approximately $5.7MM) or unsecured creditors in these Receivership Proceedings or the Bankruptcy Proceedings. · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: NBC · claims amount: 5700000 · creditor name: National Bank of Canada · interim final: unstated · related party: false · claims qualifier: unstated; basis: unstated · quote: The Statement of Affairs indicates that Delviro's unsecured creditors (excluding the Related Parties and NBC in respect of its unsecured claim) are owed in excess of $2,000,000; · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · claims amount: 2000000 · interim final: unstated · related party: false · claims qualifier: unstated · table missing:
- report date20 January 2026
- report noThird Report