Alberta · Receivership (court-appointed)
Notice of Application for Approval of SISP dated October 13, 2026
Application / notice of application · 13 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 filing4 verified
- secured creditorsnote: Application states approximately US$3.8 million owing at the time of the Receivership Order and that the amount 'remains subject to an updated balance'. The SISP definition of BMO Debt (p.18) separately states an approximate outstanding obligation of US$4 million, undated; the dated figure is used as the amount. Facility is the Letter of Agreement - Amendment and Restatement dated Sept 23, 2024, as amended incl. April 21, 2026. Ranks first; 2L and 3L security are subordinate. · page: 4 · as of: time of the Receivership Order (September 3, 2026) · amount: 3800000 · debtor: A Parent Media Co. Inc. (APMC) · creditor: Bank of Montreal (BMO) · currency: USD · security: First-ranking registered security over APMC's present and after-acquired personal property
- secured creditorsnote: Described as the '2L Debt'; funds advanced to cover payroll during a June 2026 liquidity crisis. Receiver's position (p.6) is that the 2L GSA ranks ahead of the 3L GSA given express subordination acknowledgements in the 3L GSA. The 2L Holders are also the proposed Stalking Horse Bidder, with a US$4 million credit bid. · page: 5 · as of: 2L Note issued on or about June 29, 2026; amount stated as owed in the application dated October 13, 2026 · amount: 4000000 · debtor: A Parent Media Co. Inc. (APMC) · creditor: 2L Holders: Team Canada SSM LLC, TriWest Lower Mid-Market Fund I, L.P., Douglas G. Nyhoff, James R. Lites & Charla Kim Smith (jointly), and Joseph M. DePinto (Senior Secured Second Lien Convertible Note) · currency: USD · security: General Security Agreement dated June 29, 2026: general and continuing security interest over all of APMC's present and after-acquired personal property; subordinate to BMO's security
- secured creditorsnote: Amount is aggregate principal, 'plus interest' (interest amount not stated). Notes were originally unsecured convertibles; security was granted June 29, 2026. The 3L GSA expressly acknowledges subordination to the 2L GSA. Receiver's position is that 2L ranks ahead of 3L; dispute over priority is not stated beyond Receiver's position. · page: 5 · as of: issued between June 2025 and April 2026 (aggregate principal; no balance date stated) · amount: 27375000 · debtor: A Parent Media Co. Inc. (APMC) · creditor: 3L Holders (holders of the 3L Notes / Unsecured Convertible Notes; individual holders not named on these pages) · currency: USD · security: General Security Agreement dated June 29, 2026 (3L GSA) over all of APMC's present and after-acquired personal property, granted in consideration of extending the maturity date from June 30, 2026 to December 31, 2026
- unsecured creditorsnote: Preferred/priority claims, not ordinary unsecured; amount not stated. The Receiver is also reviewing source deductions, GST and other potential priority claims (no amounts stated). · page: 6 · basis: Employees terminated immediately prior to the Receivership Order; claims rank in priority under BIA s. 81.4 with corresponding WEPPA claims; Receiver 'continues to quantify' the claims · debtor: A Parent Media Co. Inc. (APMC) · creditor: Former employees of APMC (unpaid wages and vacation pay; WEPP claims) · currency: CAD