Canadian Orthodontic Partners: ten bankruptcies, $221 million to Twin Brook

Canadian Orthodontic Partners Corp. (COP), of Toronto, made an assignment in bankruptcy with MNP Ltd. as trustee, and its statement of affairs, verified on October 30, 2026, ticks "Negative market conditions" and "Competition" as reasons for its financial difficulty and gives the details in five words: "Overpaid acquisitions and excessive debt", per the Certificate of Appointment (COP), Nov. 3, 2026 and the Creditor package (COP), Nov. 4, 2026, Statement of Affairs, pp. 5, 13. The statement sets $221,950,397.45 of liabilities against $176,302 of assets. Most of the debt is a single claim of $221,084,653, owed to Twin Brook Capital Partners, LLC, as agent, of Chicago, and entered as finance company loans dated March 18, 2021, with $176,301 of it shown as secured and $220,908,352 as unsecured, per the Creditor package (COP), Nov. 4, 2026, Statement of Affairs, pp. 5, 12.

The official receiver's certificate says COP filed its assignment under s. 49 of the Bankruptcy and Insolvency Act, and records the date and time of bankruptcy as 2:03 p.m. on November 2, 2026, in the Toronto division, estate No. 31-3444733, with MNP Ltd. appointed trustee, per the Certificate of Appointment (COP), Nov. 3, 2026. Nine other companies also made assignments under s. 49 with MNP as trustee, and their certificates record bankruptcies on November 2 and 3: COP Intermediate Corp., of Vancouver, and eight companies with numbered names, two of them in New Brunswick and one each in Ontario, Manitoba, Prince Edward Island, Nova Scotia, British Columbia and Alberta. The table below gives each certificate.

The record holds those ten certificates and, for nine of the companies, MNP's creditor packages dated November 4, each with a notice of bankruptcy and a statement of affairs listing the company's creditors and their claims. For 2005652 Alberta Ltd. it holds only an amended certificate. There is no court application, affidavit or trustee's report. All nine statements were verified remotely on October 30 by one signatory, before a notary in New Jersey, per the oath at the end of each, among them the Creditor package (COP), Nov. 4, 2026, Statement of Affairs, p. 13. Three of the oaths name the signatory as the company's director, among them the Creditor package (103817 P.E.I. Inc.), Nov. 4, 2026, Statement of Affairs, p. 7. All nine carry the same five words on the line for details, per the first page of each statement, among them the Creditor package (COP Intermediate Corp.), Nov. 4, 2026, Statement of Affairs, p. 5 and the Creditor package (1162199 B.C. Ltd.), Nov. 4, 2026, Statement of Affairs, p. 5.

The same $221,084,653 on two statements

COP Intermediate Corp.'s statement lists two assets, $1 of cash on hand and "100% interest in Canadian Orthodontic Partners Corp.", entered at $1, against $221,084,654 of liabilities, per the Creditor package (COP Intermediate Corp.), Nov. 4, 2026, Statement of Affairs, pp. 5–6. It names two creditors: the Canada Revenue Agency at $1, and Twin Brook at $221,084,653, the figure on COP's statement, dated March 18, 2021, with $2 entered as secured and $221,084,651 as unsecured. It gives the same five words on its line for details, per the Creditor package (COP Intermediate Corp.), Nov. 4, 2026, Statement of Affairs, pp. 5–6. Neither statement says on what basis its company owes the debt.

Twin Brook is on the seven numbered companies' statements too, at a different figure on each. 720715 N.B. Inc., of Moncton, lists $7,616,394; 1968736 Ontario Corporation, of Ottawa, $4,754,773; 10922161 Canada Corporation, of Fredericton, $1,234,092; and 103817 P.E.I. Inc., of Summerside, $1, entered as secured under a general security agreement. Across the seven, the lines are entered variously as finance company loans, as a general security agreement and as "Other", and dated March 18 or March 19, 2021, per the Creditor package (720715 N.B. Inc.), Nov. 4, 2026, Statement of Affairs, p. 7, the Creditor package (1968736 Ontario Corporation), Nov. 4, 2026, Statement of Affairs, p. 9, the Creditor package (10922161 Canada Corporation), Nov. 4, 2026, Statement of Affairs, p. 6, the Creditor package (103817 P.E.I. Inc.), Nov. 4, 2026, Statement of Affairs, p. 7 and, for the other three, the statements linked in the table below. None of the seven says how its figure relates to the $221,084,653 on COP's and COP Intermediate's statements.

COP's other creditors

Below Twin Brook, nearly every line on COP's own list is entered as accounts payable. Google's claim, at $169,503.16, is the largest of them. Among the rest, Logics Technology Solutions Inc., of Richmond Hill, is owed $76,731.76; Garibaldi Technology Partners Inc., of Burnaby, $68,531.28; Ortho2, of Ames, Iowa, $46,083.20; and Click Media Lab Inc., of Markham, $36,596.59, per the Creditor package (COP), Nov. 4, 2026, Statement of Affairs, pp. 8–11. Many of the smaller claims are owed to cleaning, pest-control, water and waste companies with addresses from Sydney, Nova Scotia, to Williams Lake, British Columbia, per the Creditor package (COP), Nov. 4, 2026, Statement of Affairs, pp. 7–12. One line, "Employees - Various", is entered as severance pay of $60,281.19, and no employee is named on it, per the Creditor package (COP), Nov. 4, 2026, Statement of Affairs, p. 9.

Against all of it COP lists $1 of cash on hand, signage entered as trade fixtures at $1, and machinery and equipment at $176,300, described as "(BV: $176,300, realizable value unknown)". No address or location is given for any of the three, per the Creditor package (COP), Nov. 4, 2026, Statement of Affairs, p. 6.

Seven numbered companies and their suppliers

The seven numbered companies whose statements are in the record are captioned with former names, each that of a professional or dental corporation, and their captions place them in Ottawa, Fredericton, Winnipeg, Summerside, Dartmouth, Moncton and Vancouver. Six of them list a single asset, $1 of cash on hand. Their creditors include suppliers of orthodontic products and dental and orthodontic laboratories. Align Technology B.V. is on all seven lists, from $8,545.59 at the Fredericton company to $403,669.80 at the Ottawa company, and American Orthodontics is on all seven, from $6,180.32 at the Winnipeg company to $122,160.71 at the Ottawa company, per the lists of creditors in the Creditor package (1968736 Ontario Corporation), Nov. 4, 2026, Statement of Affairs, p. 7, the Creditor package (10922161 Canada Corporation), Nov. 4, 2026, Statement of Affairs, p. 6, the Creditor package (10029127 Manitoba Ltd.), Nov. 4, 2026, Statement of Affairs, p. 7, the Creditor package (103817 P.E.I. Inc.), Nov. 4, 2026, Statement of Affairs, p. 6, the Creditor package (3344493 Nova Scotia Limited), Nov. 4, 2026, Statement of Affairs, p. 6, the Creditor package (720715 N.B. Inc.), Nov. 4, 2026, Statement of Affairs, p. 6 and the Creditor package (1162199 B.C. Ltd.), Nov. 4, 2026, Statement of Affairs, p. 7.