Ontario · NOI
Fourth Report of the Proposal Trustee dated September 30, 2026
Court officer report · 30 September 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 filing9 verified
- unsecured creditorsnote: Contingent claim; resolution or determination of the BNA claim remains relevant to the formulation of the proposal terms. Details are in prior reports/affidavits not reproduced here. · page: 11 · basis: Described as a significant contingent creditor; no amount stated in this report · debtor: CYMI Canada Inc. · creditor: Bridging North America Corporation (BNA) · currency: CAD
- unsecured creditorsnote: Regulatory/quasi-governmental claim (HST; deemed-trust class). Stated as approximately $502,000 (approximate figure, not an exact dated balance). · page: 11 · basis: Approximate HST that CYMI acknowledges is outstanding, per Proposal Trustee's understanding; no statement date given · amount: 502000 · debtor: CYMI Canada Inc. · creditor: Canada Revenue Agency (HST - acknowledged) · currency: CAD
- unsecured creditorsnote: Disputed: CYMI has until December 1, 2026 to file an objection and intends to do so. Regulatory/quasi-governmental claim (HST; deemed-trust class). In addition to the ~$502,000 acknowledged. · page: 11 · basis: Reassessment issued by CRA for additional HST beyond the acknowledged amount; initially approximately $233,000, reduced to approximately $217,000 after CYMI submissions on input tax credits · amount: 217000 · debtor: CYMI Canada Inc. · creditor: Canada Revenue Agency (HST - proposed reassessment, additional) · currency: CAD
- unsecured creditorsnote: Asserted claim, not adjudicated. Barton Malow has agreed for the time being to refrain from enforcement steps while CYMI continues its proposal efforts. · page: 11 · basis: Construction trust claim asserted by the supplier in respect of the Mosaic Holdback (approximately $1.3 million) · amount: 1300000 · debtor: CYMI Canada Inc. · creditor: Barton Malow (formerly Alltrade Industrial Contractors Inc.) · currency: CAD
- unsecured creditorsnote: Asserted claim, not adjudicated. SICE is awaiting the outcome of the proposal process. · page: 11 · basis: Construction trust claim asserted by the supplier (approximately $42,000) · amount: 42000 · debtor: CYMI Canada Inc. · creditor: SICE · currency: CAD
- unsecured creditorsnote: Asserted claim, not adjudicated. ABB has not taken any further enforcement steps at this time. · page: 11 · basis: Claim asserted in connection with the Mosaic project (approximately $573,000); appears to assert trust rights in respect of the Mosaic Holdback · amount: 573000 · debtor: CYMI Canada Inc. · creditor: ABB · currency: CAD
- operational summaryCYMI is not operating a going business; it is pursuing recovery of a ~$4.99M holdback from Mosaic (litigation scheduled for hearing Nov 12, 2026) and a contingent ~$11.4M SSLC receivable, while engaging creditors and CYMI Spain on a liquidating proposal that must be filed by Nov 11, 2026.
- report date30 September 2026
- report noFourth Report