Mayrand: an estimated 21.8% dividend, and Alimplus's claim admitted in full

On October 30, 2026, Justice Michel A. Pinsonnault of the Superior Court of Québec authorized and directed Raymond Chabot Inc., the monitor, to pay $6,158,334 to the unsecured creditors of Groupe Mayrand Alimentation whose claims it had admitted, without any further order of the court. Those claims total $28,224,406, per the Distribution and Stay Extension Order, Oct. 30, 2026, para. 12 and Annex A, p. 6. The monitor's fourth report, dated October 23, puts the estimated dividend at 21.8%, to be paid pro rata by cheque and without interest, per the Monitor's Fourth Report, Oct. 23, 2026, paras. 4.3, 4.6.

The largest payment on the schedule, $3,635,591, goes to Raymond Chabot Inc. in its other capacity in the file, as trustee in bankruptcy of Alimplus inc., Mayrand's sister company, whose $16,662,364 claim was admitted in full, per the Distribution and Stay Extension Order, Annex A, p. 5. "Given its relative size, Alimplus's claim has a decisive effect on the dividend payable to the other unsecured creditors," the monitor writes [translation], per the Monitor's Fourth Report, para. 3.5.4. The same report records five claims disallowed in whole or in part, the largest a $901,943 claim by Dalemma inc., which had been paid as a secured creditor under the July 30 order, per the Monitor's Fourth Report, paras. 2.4, 3.9. The reverse vesting sale of Mayrand's business to a subsidiary of Sobeys inc. and Empire Company Limited, and that July order, were reported here on July 31; the monitor's report recalls both, per the Monitor's Fourth Report, paras. 1.6.1, 1.7.

One firm, two roles

Alimplus assigned its property on December 23, 2025. The monitor's account of why Alimplus has a claim against Mayrand runs through the two companies' books and one lender's credit facility. Alimplus, the report says, was one of Mayrand's main suppliers, and the two booked intercompany transactions for purchases and sales of products, services rendered and shared services charged to each. The proceeds of the June 2025 sale of Alimplus's assets, which Groupe Colabor inc. bought, repaid all of the Desjardins advances booked in Alimplus and part of the Desjardins debt booked in Mayrand, the report goes on; the advances were under a single credit facility, split between the two companies for accounting purposes. "Consequently, the result is a claim by Alimplus against the post-closing debtor" [translation], per the Monitor's Fourth Report, paras. 3.5.1–3.5.2. The post-closing debtor is 9565-0909 Québec inc., the residual company that replaced Mayrand as debtor when the sale closed on June 19, 2026, and against which all of Mayrand's creditors' claims have run since, per the Monitor's Third Report, July 23, 2026, paras. 3.4, 3.7.

Alimplus's trustee filed an unsecured claim of about $16,662,000. "Raymond Chabot inc. acts both as trustee in bankruptcy of Alimplus and as Monitor of the post-closing debtor," the report says [translation]. "For this reason, the analysis of Alimplus's claim was entrusted to the lawyers of the Monitor and of the post-closing debtor" [translation]. The monitor also asked PwC, as an expert accountant, for an opinion on the claim. "In light of the foregoing," the report continues, "the claim was admitted for $16,662,000" [translation], per the Monitor's Fourth Report, paras. 3.5.3, 3.5.5–3.5.7. The order approves the fourth report and the acts, actions and activities of the monitor described in it, per the Distribution and Stay Extension Order, para. 9.

Groupe Colabor inc. holds the second-largest admitted claim on the schedule, $5,566,387, for a dividend of $1,214,540. The third-largest, Courchesne Larose Ltée's, is $702,080, for $153,188, per the Distribution and Stay Extension Order, Annex A, p. 5.

Five notices, one to Dalemma

The other claims went through the monitor's review, with the help of its lawyers and the post-closing debtor where needed. Among other things, the report says, each amount was reconciled to the balance in the books at October 28, 2025, the day Mayrand filed its notice of intention. Goods delivered or services rendered after that date came out, as did credits, discounts and rebates a claim had not counted, duplicates (several divisions of one supplier, or a creditor and its credit insurer both filing), amounts claimed against an entity other than the debtor, including Alimplus or Groupe Colabor inc., and interest, penalties and collection costs with no written agreement behind them or accruing after the notice, per the Monitor's Fourth Report, paras. 3.4–3.4.7.

On October 23 the monitor sent five notices of revision or disallowance, three total and two partial, rejecting $971,917 in all. CWB National Leasing Inc. lost its $22,710 claim because the contracts were transferred to the purchaser, and Dr Oetker Canada Ltd its $38,216 claim because it lay against another entity, Alimplus. Italpasta Limited had $5,831 of its $39,351 disallowed for invoices dated after October 28, 2025, and Multi-Deli $3,216 of its $26,609 for credits its claim had left out, per the Monitor's Fourth Report, paras. 2.7, 3.9 and Annex 1, p. 11.

The fifth notice went to Dalemma inc. The monitor's July report describes Dalemma as a holding company whose sole shareholder and director is the individual to whom Desjardins assigned its unpaid balance in June 2025, then Mayrand's ultimate beneficial owner and director; that individual assigned the balance and its security to Dalemma in March 2026, per the Monitor's Third Report, July 23, 2026, paras. 4.6.2, 4.6.4. Dalemma's unsecured claim, for $901,943, was disallowed in full. The reason the monitor gives in its table is "a shareholder's claim qualifying as an equity claim" [translation]. "The ten-day appeal period will therefore expire on November 3, 2026," the report says [translation], per the Monitor's Fourth Report, paras. 3.9–3.10 and Annex 1, p. 11. That period was still running when the order was made. The order authorizes the monitor to keep a reserve sufficient for a pro rata distribution to any creditor whose claim was disallowed in whole or in part and whose appeal period has not run out, or who appeals within it; once those claims are decided, whatever the monitor still holds goes pro rata to the admitted unsecured creditors, again without further order, per the Distribution and Stay Extension Order, paras. 13–14.