Ontario · CCAA
Monitor's Pre-Filing Report
Pre-filing report · 16 April 2025
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 filing3 verified
- secured creditorsnote: No dollar amount of bonded obligations stated in these pages. Pennbridge Holdings Inc. (related-party indirect owner) is a guarantor/indemnifier on the Applicants' obligations to Aviva. · page: 14 · debtor: Applicants (Earth Boring Co. Limited et al.) · creditor: Aviva Insurance · currency: CAD · security: Indemnity agreements granted by the Credit Parties in favour of Aviva Insurance as surety, securing performance bonds and payment bonds
- secured creditorsnote: Described as the Applicants' 'primary secured lender'; no outstanding balance disclosed in these pages. Pennbridge Holdings Inc. (related-party indirect owner) is a guarantor/indemnifier on this obligation. BMO also acts as DIP Lender post-filing (excluded here as post-filing financing). · page: 35 · debtor: Earth Boring Co. Limited (borrower); guaranteed by Yarbridge Holdings Inc., Yarfield Services Limited, Trolan Investments Ltd. · creditor: Bank of Montreal (BMO) · currency: CAD · security: Pre-Filing Loan Agreements: credit agreement dated June 22, 2023, as amended by a first amendment dated July 22, 2024 and a second amendment and forbearance agreement dated March 13, 2025
- secured creditorsnote: Multiple registered mortgages stated individually; document does not provide a combined outstanding balance, so components are not summed. Pennbridge Holdings Inc. (related-party indirect owner) is a guarantor/indemnifier on this obligation. · page: 35 · debtor: Trolan Investments Ltd. (Steelwell Property); Yarbridge Holdings Inc. (Zelco Property) · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: BDC Mortgage Charges (registered principal amounts, not balances): $5,000,000 charge/mortgage against 75 Steelwell Road, Brampton (PIN 14028-0023, instrument PR4394604); $4,925,000 charge/mortgage against 960 Zelco Drive, Burlington (PIN 07035-0005, instrument HR1655555); $2,000,000 charge/mortgage against same Zelco Property (instrument HR1697379); $3,300,000 charge/mortgage against same Zelco Property (instrument HR1920436)