Ontario · Receivership (court-appointed)
First Report of the Receiver dated January 16, 2026 (Part 1 of 2)
Court officer report · 16 January 2026
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What we verified from this filing10 verified
- financial positionnote: EGI is a non-operating holding company with no material assets other than its interests in Jade and Trenchless; asset table (book values, may differ materially from realizable value) covers Jade only, while liability table covers both Debtors combined, creating a scope mismatch between the two figures · page: 9 · as at: 2025-09-29 · basis: Unaudited internal financial statements / book values (assets, generated Sept 30, 2025); estimated liabilities per Debtors' books and records as at Date of Appointment (Sept 29, 2025) · scope: Asset figures are entity-specific to Jade Equipment Co. Ltd. only (as of Sept 30, 2025); liability figures are combined for the Debtors (Jade Equipment Co. Ltd. and Elvaan Group Inc.) as at the Date of Appointment (Sept 29, 2025) · currency: CAD · total assets: 9475108 · total liabilities: 8707842
- secured creditorsnote: Estimated liability per Debtors' books and records as at Date of Appointment · page: 9 · as of: 2025-09-29 · amount: 40443 · debtor: Debtors (Jade Equipment Co. Ltd. / Elvaan Group Inc.) · creditor: Vault Credit Corporation · currency: CAD · security: PPSA-registered security
- secured creditorsnote: Estimated liability per Debtors' books and records as at Date of Appointment · page: 9 · as of: 2025-09-29 · amount: 4861 · debtor: Debtors (Jade Equipment Co. Ltd. / Elvaan Group Inc.) · creditor: Gregg Distributors LP · currency: CAD · security: PPSA-registered security
- secured creditorsnote: Estimated liability per Debtors' books and records as at Date of Appointment; related floorplan financing agreement referenced separately · page: 9 · as of: 2025-09-29 · amount: 77873 · debtor: Debtors (Jade Equipment Co. Ltd. / Elvaan Group Inc.) · creditor: Mitsubishi HC Capital Canada Leasing Inc. · currency: CAD · security: PPSA-registered inventory/floorplan financing security
- secured creditorsnote: Amalgamated/amended A&R Credit Agreement dated Sept 19, 2024; para 46 states approx. $5.9 million outstanding as at Date of Appointment, exclusive of fees, costs and interest (exact table figure used as amount); personal guarantors S. Mukherjee and Suvomita Das (individuals, not companies) · page: 9 · as of: 2025-09-29 · amount: 5968000 · debtor: Jade Equipment Co. Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement over all present and after-acquired personal property of Jade; guarantee from EGI; personal guarantees; related postponement agreements
- secured creditorsnote: Estimated liability per Debtors' books and records as at Date of Appointment · page: 9 · as of: 2025-09-29 · amount: 59850 · debtor: Debtors (Jade Equipment Co. Ltd. / Elvaan Group Inc.) · creditor: Tailor-Made Auto Credit A Div of Londonderry Plymouth · currency: CAD · security: PPSA-registered security
- secured creditorsnote: Estimated liability per Debtors' books and records as at Date of Appointment; related floorplan financing agreement referenced separately · page: 9 · as of: 2025-09-29 · amount: 4220 · debtor: Debtors (Jade Equipment Co. Ltd. / Elvaan Group Inc.) · creditor: Wells Fargo Equipment Finance Company · currency: CAD · security: PPSA-registered inventory/floorplan financing security
- secured creditorsnote: Various entities with security registered under the PPSA as of July 3, 2025; value of potential claims (if any) vis-à-vis Jade or EGI unknown at this time · page: 9 · as of: 2025-07-03 · debtor: Debtors (Jade Equipment Co. Ltd. / Elvaan Group Inc.) · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Various PPSA registrations, including PMSI claims
- secured creditorsnote: Pre-filing HST; listed as a 'Potential Priority Claim' rather than secured debt; deemed-trust class quasi-governmental claim · page: 9 · as of: 2025-09-29 · amount: 367000 · debtor: Jade Equipment Co. Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- secured creditorsnote: Estimated liability per Debtors' books and records as at Date of Appointment · page: 9 · as of: 2025-09-29 · amount: 293800 · debtor: Debtors (Jade Equipment Co. Ltd. / Elvaan Group Inc.) · creditor: RCAP Leasing Inc. · currency: CAD · security: PPSA-registered equipment/leasing security