Ontario · CCAA
Motion Record of the Receiver (Distribution and Discharge Order) – dated October 15, 2026
Application / notice of application · 15 October 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
- secured creditorsnote: Post-filing receivership charge, not pre-filing debt. The report states that as of May 7, 2026 the Receiver had borrowed $100,000 from EDC pursuant to a Receiver's Certificate dated April 29, 2026. No further advances are to be made under this charge; the Stalking Horse Bidder's Funding of up to $1,000,000 at 8.0% per annum would be secured by a Second Receiver's Borrowings Charge. · page: 144 · as of: 2026-04-29 · amount: 100000 · debtor: Synaptive Medical Inc. · creditor: Receiver's Borrowings Charge (EDC advance of $100,000 under Receiver's Certificate) · currency: CAD · security: Court-ordered super-priority First Receiver's Borrowings Charge, ranking after the Receiver's Charge; authorized up to $400,000
- secured creditorsnote: Stated as USD $12,166,512.42 'exclusive of enforcement' costs. The Schedule B investor list (original principal investment) totals $14,000,000, of which EDC's own investment is $11,420,380.87 and about 46 other investors hold the balance. The original investment totals are NOT the outstanding balance and are not used as the amount. · page: 160 · as of: 2026-04-16 · amount: 12166512.42 · debtor: Synaptive Medical Inc. · creditor: Export Development Canada (Junior Note, in own right and as collateral agent for other junior investors) · currency: USD · security: Subordinate General Security Agreement dated June 26, 2025, granted to EDC in its own right and as collateral agent for various other investors (Schedule B); secures Subordinate Secured Promissory Notes
- secured creditorsnote: Stated in the Court's endorsement as 'total amount of USD $6,392,000 exclusive of enforcement costs'. Senior Note ranks ahead of the Junior (subordinate) Note. Of the $100,000 receiver borrowing from EDC under a Receiver's Certificate dated April 29, 2026, no balance is reported here. · page: 160 · as of: 2026-04-16 · amount: 6392000 · debtor: Synaptive Medical Inc. · creditor: Export Development Canada (Senior Note) · currency: USD · security: Senior General Security Agreement dated June 26, 2025, securing the Senior Secured Promissory Note dated June 26, 2025; GSA per the endorsement is valid and enforceable per counsel's opinion
- secured creditorsnote: Endorsement states Pacer asserts a lien over certain property; it appeared but took no position. Amount not stated; the lien is asserted, not confirmed. · page: 160 · debtor: Synaptive Medical Inc. · creditor: Pacer Air Freight Ltd. · currency: CAD · security: Asserted lien over certain property of Synaptive
- secured creditorsnote: Endorsement states registrations under the PPSA were made by these three parties; the amounts of any indebtedness are not stated on these pages. Constantine Zachos and Espresso Capital Ltd. also appear on the service list as PPSA Registrants; Constantine Zachos is also a Junior Note investor (via Gundyco ITF, $155,915.17, and Marianthi Zachos $50,719.75) per Schedule B. · page: 160 · debtor: Synaptive Medical Inc. · creditor: PPSA registrants: De Lage Landen Financial Services Canada Inc., Hewlett-Packard Financial Services Canada Company, Royal Bank of Canada · currency: CAD · security: PPSA registrations against Synaptive (per endorsement)