Ontario · Receivership (court-appointed)
First Report of MNP Ltd.
Court officer report · 15 September 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing4 verified
- secured creditorsnote: Amount is approximate ('amounted to approximately $23.2 million'), plus unposted accrued interest and costs not included in the stated figure. A&B, as independent counsel, opined TD Bank holds valid security interests/charges against the Property to be sold. TD Bank agreed to suspend regular debt repayments during receivership while interest continued to accrue. · page: 10 · as of: 2025-09-09 · amount: 23200000 · debtor: Stickney Poultry Farms Inc., Stickney Poultry Farm, Anne Marie Stickney and Corey Stickney (the Debtors) · creditor: The Toronto-Dominion Bank · currency: CAD · security: Various secured credit facilities (term loans, operating lines, credit cards) secured by general security/PPSA registrations against Stickney Poultry Farm, Corey Stickney and Anne Marie Stickney (PPSA searches dated Sept 4, 2025, reveal registration only in favour of TD Bank), and real property security including the Matrimonial Home and Vacant Land pledged in support of the credit facilities; total credit facility limit stated separately as approximately $27 million (facility limit, not a balance)
- purchaserAnne Marie; Arthur Acres Farms Ltd.
- recovery outcomeentries: basis: unstated · quote: authorizing and directing the Receiver to make an interim distribution to TD Bank, up to the amount of its secured indebtedness; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: TD Bank · creditor name: TD Bank · interim final: interim · related party: false · conditional on: up to the amount of its secured indebtedness · claims qualifier: unstated; basis: unstated · quote: authorizing the Receiver to make an interim distribution of up to $5 million to each of Anne Marie and Corey (the ' Interim Distributions ') following the closing of both of the Transactions, in each case, net of their respective Interim Loans (as defined below); and · pct of: unstated · outcome: distribution · class key: equity · stated by: receiver · amount high: 5000000 · class label: Anne Marie · creditor name: Anne Marie Stickney · interim final: interim · conditional on: net of their respective Interim Loans, following closing of both of the Transactions · claims qualifier: unstated; basis: unstated · quote: authorizing the Receiver to make an interim distribution of up to $5 million to each of Anne Marie and Corey (the ' Interim Distributions ') following the closing of both of the Transactions, in each case, net of their respective Interim Loans (as defined below); and · pct of: unstated · outcome: distribution · class key: equity · stated by: receiver · amount high: 5000000 · class label: Corey · creditor name: Corey Stickney · interim final: interim · conditional on: net of their respective Interim Loans, following closing of both of the Transactions · claims qualifier: unstated · stated on: 2025-09-15 · table missing:
- sale outcometext: Receiver recommends approval of the APA and vesting of the Layer and Broiler Assets · scope: whole_business · status: pending_approval