Quebec · Receivership (court-appointed)
2026-10-09 Judgment on Application for Transactions' Approval and Interim Distribution (in French)
Application / notice of application · 9 October 2026 · French
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
- unsecured creditorsnote: Amount and secured/unsecured status not stated in these pages. · page: 4 · basis: Late claim admitted at the 30 September 2026 hearing · creditor: CIBC · currency: CAD
- unsecured creditorsnote: Amount and secured/unsecured status not stated in these pages. · page: 4 · basis: Late claim admitted at the 30 September 2026 hearing · creditor: Cuisine Idéale · currency: CAD
- secured creditorsnote: The court states there are 31 secured creditors across the 40 properties in the Finstar portfolio, of whom seven are institutional lenders and the rest private lenders; no individual names or balances are given on these pages. Claims are described as 'known and crystallized' as to quantum and secured/unsecured status following the receiver's claims process. Interim distribution of approximately $80M to secured creditors and for receiver/counsel fees was approved (a distribution amount, not a debt balance). Credit bid consideration is attributed at the full amount of each bidder's secured claim under protocol para. 2.5.2.3. · page: 9 · debtor: Finstar group · creditor: Secured creditors holding first-rank security on the 15 properties covered by the Transactions (credit bidders) · currency: CAD · security: Mortgage (hypothec) security on individual real estate properties; credit bids submitted in the SISP
- unsecured creditorsnote: Disputed/rejected claims; amounts not stated. Separate from the Ville's asserted entitlement to a free transfer of the Lot under the 21 October 2024 'Entente VSAM'. · page: 11 · basis: Three proofs of claim filed in the SISP claims process, each rejected by the receiver; the Ville appealed those decisions · creditor: Ville de Saint-Agathe-des-Monts · currency: CAD
- secured creditorsnote: Claimant who sought the receiver's appointment. Secured claim amount not stated in these pages. Dumont alone contests the receiver's interpretation of 'valeur de réalisation' (his share of costs would drop by over $550,000 under his reading, per his counsel). Dumont submitted a fourth credit bid days before the hearing on the Immeubles Dumont; no third-party bid exceeding his secured claim was received in the SISP. · page: 17 · debtor: Finstar group (Groupe Finstar Inc. and affiliated debtors) · creditor: Carl Dumont · currency: CAD · security: First-ranking secured creditor on the 'Immeubles Dumont' (Annex G of the Third Receiver's Report) and on lot 6 629 197 (the 'Lot'); security on the Lot partly registered before the 22 Oct 2024 municipal resolution. Lot value estimated by the parties at around $100,000.