Ontario · CCAA
Report of the Trustee (BIA Lift Stay Motion)
Court officer report · 28 September 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 filing36 verified
- secured creditorsnote: Total indebtedness stated in the Agent's proof of claim cover letter as at the date of bankruptcy; includes amounts under the Credit Agreement, interest accrued to Feb 11, 2026 and legal fees to Jan 31, 2026. Agent described as 'a secured and unsecured creditor'; the proof of claim is filed without prejudice, the Agent reserves the right to amend and to update the secured/unsecured split for further recoveries. The secured/unsecured split is not stated on these pages. The creditor listing (page 61) shows a different figure for RBC of $83,205,528. · page: 22 · as of: 2026-02-11 · amount: 84582134.05 · creditor: Royal Bank of Canada, as Administrative Agent and Collateral Agent (for the Lenders under the Credit Agreement) · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 154 · creditor: Document Direction Limited · currency: CAD
- unsecured creditorsnote: Amounts to be determined per the listing; employee claims may include wage-earner priority but the document does not say. · page: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors; amounts shown as 'TBD' · creditor: Other creditors with amount 'TBD' (Artis Millennium Centre Ltd., Avenue Commercial, JEB2 Properties Inc., CBIZ Inc., Connect First Credit Union, Firmex, HRDownloads Inc., The City of Red Deer, 12 employees (names redacted)) · currency: CAD
- unsecured creditorsnote: Government/tax creditors with amount TBD; class (deemed trust or otherwise) not stated. · page: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors; amounts shown as 'TBD' · creditor: Canada Revenue Agency; Minnesota Department of Revenue · currency: CAD
- unsecured creditorsnote: Fifteen redacted 'Individual' entries: 13,783; 191; 400,000; 439,000; 40,722; 150,000; 80,000; 300,000; 100,000; 350,000; 150,000; 500,000; 25,000; 45,000; 500,000. Amount shown is the sum of these listed figures, offered for convenience only; the document states no sub-total. · page: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors; individuals' names redacted for privacy · amount: 2573696 · creditor: Individual creditors (names redacted; 15 entries) · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 10795 · creditor: Genieall · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 25241 · creditor: Finex Group Incorporated · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 52500 · creditor: Duntrune LLP · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 39274 · creditor: Denton Canada LLP · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 7568 · creditor: DealerTrack Canada · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 830550 · creditor: EY · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 46625 · creditor: Bill Gosling Outsourcing · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 9692 · creditor: Bloomberg · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 449 · creditor: Broadband Dynamics Canada Inc. · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 5461 · creditor: Carfax Canada · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 471 · creditor: Christie's Office Plus · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 6042 · creditor: CNW · currency: CAD
- unsecured creditorspage: 60 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 20479 · creditor: Cogent Canada, Inc. · currency: CAD
- financial positionnote: Trustee stated at the first meeting of creditors that 'the Company has no remaining assets' and that no funds are anticipated for distribution to creditors; no claims process was approved in the CCAA proceedings. No asset total is stated on these pages. Not a proof-of-claim total: only one proof of claim (the Agent's) had been received as at February 24, 2026. · page: 61 · as at: 2026-02-10 · basis: Total of the Consolidated Listing of Creditors filed with the Statement of Affairs dated February 10, 2026 (sworn by Jeffrey Rosenberg as Monitor); excludes creditors shown as 'TBD' · scope: Consolidated across the six Debtors: Chesswood Group Limited, Chesswood Holdings Ltd., Chesswood Capital Management Inc., 908696 Alberta Inc., 942328 Alberta Inc., 1000390232 Ontario Inc. · currency: CAD · total liabilities: 87433189
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 861 · creditor: TSX · currency: CAD
- unsecured creditorsnote: Listed on the consolidated creditor listing; the same debt is claimed by the Agent at $84,582,134.05 as at Feb 11, 2026 in its proof of claim. Listing does not split secured/unsecured. · page: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors filed with Statement of Affairs of the Debtors dated February 10, 2026 (Form 78 listing) · amount: 83205528 · creditor: RBC Royal Bank - Global Loans Administration · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 1780 · creditor: MNP Canada · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 1819 · creditor: Morgan Stanley - Solium Capital ULC · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 4489 · creditor: Reynolds Mirth Richards & Farmer LLP · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 930 · creditor: Solulan Global Inc. · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 5679 · creditor: Vault Mortgage Corporation · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 578 · creditor: Wells Fargo · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 42076 · creditor: Wilson Vukelich LLP · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 18037 · creditor: Workiva · currency: CAD
- unsecured creditorsnote: Contingent/unliquidated claim; Investor Class Action CV-24-00729269-00CP. · page: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors; amount 'TBD' · creditor: Securities Class Action (Investor Class Action) · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 237 · creditor: Inverite · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 339 · creditor: Koskie Minsky · currency: CAD
- unsecured creditorspage: 61 · as of: 2026-02-10 · basis: Consolidated Listing of Creditors (Statement of Affairs) · amount: 1837 · creditor: Majestack · currency: CAD
- operational summaryThe CCAA proceedings are substantially complete and awaiting service of the termination certificate. The Debtors are bankrupt and administered on a consolidated basis; the report deals with a class action plaintiff's motion to lift the BIA stay, on which the Trustee takes no position.
- recovery outcomeentries: basis: estimated · quote: Furthermore, Mr. Rosenberg referenced the Statement of Affairs and explained that the Company has no remaining assets, and it is not anticipated that there will be any funds available to distribute to creditors in the bankruptcy. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: creditors in the bankruptcy · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Mr. Rosenberg explained that there was no claims process approved by the Court in the proceedings under the Companies' Creditors Arrangement Act (the ' CCAA ') of the Debtors and there are no proceeds remaining for distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-09-28 · table missing:
- report date28 September 2026