Insights
The archive, newest first — posts 76–100 of 719. The 8 most recent are on the front. ← The newest analysis
Case update
Felix & Paul: one offer for the name, from a related buyer
In a motion returnable October 29, Deloitte, trustee of the bankrupt Montreal virtual-reality studio, asks the court to approve selling its brand, felixandpaul.com and eight immersive works for $70,000 to a company whose directors and shareholders were also directors of the studio and which was the only bidder for those assets in a second sale process.
Outcome brief
Innomalt: a director's company gets approval to buy the malt house
On October 26 a registrar approved the sale of Innomalt's Bécancour malt house to a company that, the trustee says, one of Innomalt's directors ultimately controls. The price is sealed; the trustee says the consideration beats the four letters of intent but should repay the secured lenders only in part, with no distribution to unsecured creditors.
Outcome brief
National Traffic Safety: a holding proposal on the last day
On October 26, the day its six-month stay period expired, the company filed a holding proposal, and the endorsement says the risk of a deemed bankruptcy "has been addressed." Justice Dietrich left the trustee's motion to approve the Ramudden sale undecided, raised the administration charge to $300,000, and made time on November 2.
Filing brief
Prairie Provident: Prudential applies, and every director is deemed resigned
The Alberta court put TSX-listed Prairie Provident into the CCAA on October 27 on its senior lender's application, deemed each director and officer resigned and empowered monitor Alvarez & Marsal to manage and operate the business. The lender's affiliates, the pre-filing report says, hold the second lien, the preferred shares and about 80.1% of the parent's shares.
Case update
Strategic Oil and Gas: the regulator wants a ruling before the receiver goes
The Northwest Territories' oil and gas regulator asks for a ruling, before Alvarez & Marsal is discharged as receiver of Cameron Hills, on whether the territorial government is required and eligible to hold a licence and an authorization there. It has also extended the operations authorization for the field, due to lapse November 30, to November 30, 2027.
Strategic Oil and Gas Ltd. And Strategic Transmission Ltd. (Receivership)
Filing brief
Winmar Fraser Valley: KPMG is receiver, and could find no books at the premises
Justice Veenstra appointed KPMG receiver of three numbered companies, including the one that ran a Langley Winmar restoration franchise, on October 9. National Bank's petition claims $8,061,786.75 and pleads no payments since June 2026 and locked doors on July 17; KPMG says it could not locate any books and records at the premises.
Outcome brief
Baffinland: the court puts the CRO in the driver's seat
Justice Jana Steele's October 14 reasons give the CRO "the ultimate decision-making power" in Baffinland's sale process, rejecting the debtors' version "on this basis alone": EDC's DIP consent right, reasonably exercised. The monitor's October 29 motion asks that the CRO be authorized to sign an agreement with QIA and NTI and that it be sealed.
Outcome brief
Cash Today: full powers, three bankruptcies and a freeze to November 27
On October 16, Justice Bourque gave MNP full powers over Cash Today, its two guarantors and 1549932 Alberta, and Cash Today and both guarantors were adjudged bankrupt. On October 20, over a request to adjourn, the court froze the property of 14 related corporations, three individuals and an estate until November 27.
Outcome brief
Ecolomondo: Tire Reviver's price stays sealed, and $350,000 waits on the pond
On October 22, Justice Janet Michelin approved the sale of substantially all of Ecolomondo's assets, its Hawkesbury tire plant included, to Tire Reviver Inc. at a sealed price, with a $350,000 environmental holdback and the United Steelworkers collective agreement assumed by the buyer. The CCAA goes on, with the next hearing set for November 27.
Case update
Freshstone: the liquidation the monitor now calls inevitable
The monitor's Sixth Report says Freshstone Brands' chief executive, investor in the reverse vesting transactions approved October 14, told it on October 22 that the investor no longer intended to close. It reports 123 layoffs that day and 11 the next and a DIP default notice terminating the lender's commitment, and calls a liquidation inevitable.
Case update
Imperial Tobacco: half the maximum now for accepted Quebec claims
In the Imperial Tobacco, JTI-Macdonald and Rothmans, Benson & Hedges CCAAs, the Quebec class action plaintiffs ask the Commercial List and the Superior Court of Québec, jointly, to direct Epiq to pay accepted Blais claims 50% of their maximum now, before every claim is decided. Their counsel's affidavit counts 10,710 accepted claims at October 15.
Case update
Minto Metals: the $44 million claim that waits on a restart decision
PwC's Ninth Report seeks no order. It reports about $2.43 million on hand, miners' liens of about $38 million and the Government of Yukon's asserted reclamation claim of about $44 million, which turns on a restart decision anticipated in mid-2027. Until that claim is clearer, the receiver is not applying to distribute.
Case update
QM Group: what the monitor proposes for $43.2 million of lien notices
In its Sixth Report, Alvarez & Marsal estimates proven lien claims at about $18.4–19.0 million and would charge the Hamilton transfer station's sale proceeds 17.4% of the credit-bid DIP, about $1.463 million, to the lien claimants' benefit, for an estimated $1.904 million pool and an illustrative 10.1–10.4% recovery; Intact would take the station pool's estimated $947,000.
Case update
Good Natured: a third extension, and notice served on short service
Justice Dunphy granted the Good Natured debtors a third extension, to December 4, 2026, while "serving notice on the professional community" that "clemency for sloppy shortcomings cannot be presumed upon." The endorsement also records the debtor's undertaking to use no more than $50,000 of sales proceeds in its operations without the major secured creditor's consent.
Outcome brief
Maverick Estate Winery: $2,330,000 for the winery, the Crux Vineyard excluded
On October 23 Justice J.M. Gropper approved the sale of the Oliver, B.C. winery to 1605274 B.C. Ltd. at $2,330,000, under an amendment dated as of that day to a $2,050,000 agreement. The distribution order pays RBC fourth, up to its debt; the 77-acre Crux Vineyard drew no qualifying final bid.
Case update
Roman Catholic Episcopal Corporation of St. John's: dividing $3.2 million on the way out
The monitor's Twenty-Seventh Report supports the corporation's application to leave its CCAA for bankruptcy, with Ernst & Young as trustee, release the Archbishop, two Archdiocese companies and the professionals, and pay claimants a further $3.2 million. Whether the Province's settlement payments count in dividing it, the report leaves to the court.
Filing brief
Sunterra: binding offers due in October, and a stay to January 29 sought
FTI's Eighth Report records binding-offer deadlines of October 7 and 22 in the sale process for the Alberta hog-farming and grocery-market group, reports no results yet, and supports extending the CCAA stay from October 30, 2026 to January 29, 2027 on an application returnable October 29.
Filing brief
RSG Law: a receiver for the firm and the funds it was required to hold in trust
Justice Dunphy's October 23 order makes AlixPartners Restructuring, Inc. receiver of RSG Law Professional Corporation and, separately, of funds it was required to hold in trust, with power to investigate a schedule of transactions. Another restates the June 12 receivership over real property in the WIGI action. None makes a finding on those transactions.
Case update
Simran Law: the court's reasons for a receiver over two law firms
Justice Dunphy's October 19 endorsement, on FCT Insurance Company Ltd.'s application brought without notice to the respondents, holds that FCT has established "a strong prima facie case of serious breaches of trust." On 25 occasions, it says, mortgage advances were delivered into the respondents' trust accounts to discharge existing mortgages, and none was discharged with them. The respondents had not been heard; the matter returns on November 23.
Simran Law Professional Corporation and JP Mann Law Firm Professional Corporation
Case update
Freshstone: a material adverse change, a week after the reverse vesting order
A week after Justice W.D. Black approved Freshstone Brands' reverse vesting transaction with its chief executive as investor, the monitor's material adverse change report recorded reduced sales, $1,414,975 of post-filing payables past due and a DIP default not waived as of October 21. The investor, it says, had declined to confirm closing by November 27.
Outcome brief
H&R Orchards: four sales approved, and $1.2 million held back
On October 19, Justice Gropper approved the receiver's sales of the Lakeside Cellars winery at Osoyoos and three H&R properties near Creston, $18,156,000 together at the prices in the receiver's report, and directed an interim distribution to Farm Credit Canada after two reserves, one of $1.2 million pending FCC's and CherryCrest's claims against H&R.
Case update
Hudson's Bay: at the mediator's request, the art proceeds stay in trust
Two days after asking to spend the art-auction proceeds held in trust on the CCAA's costs, the monitor agreed, at the pension-surplus mediator's request, not to ask for that at this time. It now seeks a stay to December 11, 2026, not March 12, 2027, with the company's own cash forecast to fall to $1.358 million.
Filing brief
Mobi724: Richter asks the court to refuse the proposal creditors accepted
Creditors of the Montreal fintech accepted its proposal, which offers ordinary creditors $320,000, on February 26, 2026. On October 20 its trustee, Richter, asked the court to refuse approval and have the company deemed bankrupt, swearing that post-filing source deductions it puts at about $257,000 and the first $160,000 instalment have not been paid.
Case update
National Traffic Safety: no stay of the deemed bankruptcy
The proposal trustee found Ramudden Global's binding letter of intent the most favourable outcome, over an amended bid from A2 Environmental, the sole director's company, and asked the court to stay the deemed bankruptcy that falls on October 26. On October 22 Justice Dietrich declined, writing that "there is no CCAA proceeding before me."
Filing brief
Onyxa Canada: four offers for 157 Toryork Drive, and a redacted price
KPMG, receiver of the porcelain slab and tile seller and of Onyxa Holding Group, asks the court to approve selling Holding Group's building at 157 Toryork Drive to Jands Investments Inc., chosen after four offers and further negotiations with the leading bidders, price redacted, and to make an interim distribution to Royal Bank of Canada.