Quebec · Receivership (court-appointed)
Application for the Appointment of a Receiver (French Original Version)
Application / notice of application · 3 June 2026
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What we verified from this filing8 verified
- applicantBANQUE CANADIENNE IMPÉRIALE DE COMMERCE
- appointeeRestructuration Deloitte inc.
- appointee roleséquestre
- courtCOUR SUPÉRIEURE
- provinceQUÉBEC
- statutory basisArticle 243 de la Loi sur la faillite et l'insolvabilité
- secured creditorsnote: Novic is DMB's majority shareholder (related party) and acts as guarantor/surety for DMB's debt to CIBC; no separate quantified balance is stated for Novic's guarantee obligation apart from the DMB debt figure above. · page: 5 · debtor: Novic Investments LLC · creditor: Banque Canadienne Impériale de Commerce (CIBC) · currency: CAD · security: Unlimited guarantee (cautionnement illimité) dated 2023-11-30 covering all present and future obligations of DMB; secured by: (i) movable hypothec granted by Novic, ceiling $75,000,000 plus 15% additional hypothec, dated 2023-12-01 (RDPRM #23-1437134-0001/0002); (ii) General Security Agreement (BC) dated 2023-11-28, registered under PPSA BC #942846P, over all present/after-acquired personal property; (iii) General Security Agreement (Delaware) dated 2023-12-01, registered UCC #2023 8178856, pledging all issued/outstanding shares of DMB Food Distribution ULC (30,000,000 common shares).
- secured creditorsnote: Amount is per para. 26 of the Demand ('en date de la présente Demande, la Débitrice ... demeure endettée envers la Banque d'un montant de 35 272 861,25 $'), dated the same day as the Demand (2026-06-03). Under the First Forbearance Agreement (entered on/about 2026-04-08), Debtor and guarantor Novic had acknowledged owing $35,981,153.86 CAD (para. 22) — an earlier, higher balance. Registration/ceiling amounts listed above are facility/hypothec ceilings, not outstanding balances. · page: 7 · as of: 2026-06-03 · amount: 35272861.25 · debtor: DMB Food Distribution ULC / DMB Distribution Alimentaire ULC · creditor: Banque Canadienne Impériale de Commerce (CIBC) · currency: CAD · security: Package of hypothecs securing Credit Agreement dated 2023-11-23 (facilities: operating credit originally $12,500,000 reduced to $5,500,000; Demand Loan A $9,193,000; Demand Loan B $23,557,000; derivative demand credit US$2,000,000): (a) movable & immovable hypothec granted by DMB, registered ceiling $40,000,000 plus 15% additional hypothec, dated 2023-11-28 (RDPRM #23-1416473-0001); (b) movable hypothec by DMB, ceiling $75,000,000 plus 15%, dated 2023-11-28 (RDPRM #23-1421099-0001), covering all present/future movable property; (c) movable hypothec by DMB, ceiling $75,000,000 plus 15%, dated 2023-11-30 (RDPRM #23-1426072-0001), covering all present/future movable property; security under s.427 Bank of Canada Act.