Ontario · CCAA
Eighth Report of the Monitor
Court officer report · 10 August 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 filing7 verified
- closing confirmedscope: substantially all of their business · outcome: completed · effective: 2025-08-27 · purchaser: Almex Canada, Limited · date basis: stated · approval order date: 2025-07-18
- operational summaryThe Applicants no longer have an operating business following the sale transaction; the Monitor is winding up remaining subsidiaries (mostly by abandonment) and working to resolve outstanding items under the Minutes of Settlement before seeking termination of the CCAA proceedings.
- purchaserAlmex Canada, Limited
- recovery outcomeentries: basis: actual · quote: (a) $4,429,978.30 to the DIP Lender on September 15, 2025, which constituted full repayment of the DIP Facility, including interest; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · amount low: 4429978.3 · amount high: 4429978.3 · class label: DIP Lender · creditor name: DIP Lender · interim final: unstated · claims qualifier: unstated; basis: actual · quote: (c) $12,000,000 to RBC on October 17, 2025, which constituted an interim distribution in respect of the Applicants' pre-filing secured indebtedness owing to RBC. · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 12000000 · amount high: 12000000 · class label: RBC pre-filing secured indebtedness · creditor name: RBC · interim final: interim · claims qualifier: unstated; basis: actual · quote: The Monitor made a distribution to BDC in the amount of $1,946,241.45 on October 10, 2025, which constituted full repayment of SAIL's pre-filing indebtedness to BDC. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · amount low: 1946241.45 · amount high: 1946241.45 · class label: BDC · claims amount: 1931944.61 · creditor name: BDC · interim final: unstated · claims qualifier: unstated; basis: actual · quote: No distributions have been made to BDC Capital as of the date of this report. · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: BDC Capital · claims amount: 3390000 · creditor name: BDC Capital · interim final: unstated · claims qualifier: unstated · stated on: 2026-08-10 · table missing:
- report date10 August 2026
- report noEighth Report
- sale outcometext: The Applicants sold substantially all of their business to the Purchaser following a robust SISP. · scope: whole_business · status: closed