Proceedings.

Chesswood Group Limited

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Active
Proceeding
CCAACompanies' Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended
Court
Ontario Superior Court of Justice · Commercial List
File
CV-24-00730212-00CL
Filings held76
Last activity18 Sep 2026
On the record692 days
Secured debt$66.3M
OverviewSummary updated

Chesswood Group Limited is the subject of an active proceeding under the Companies' Creditors Arrangement Act in the Ontario Superior Court of Justice (Commercial List), court file CV-24-00730212-00CL. As at October 24, 2024, according to a draft Statement of Claim, Chesswood Group Ltd. owed the syndicated lenders under the Syndicated Revolving Credit Facility C$92,797,926.72 and, separately, US$66,254,723.30; the two components are in different currencies and cannot be added, and both exclude unquantified costs, expenses, interest and letter-of-credit amounts. The facility arises under a credit agreement dated January 14, 2022 with an original maximum principal amount of US$300 million. The lending syndicate comprises Royal Bank of Canada, The Toronto-Dominion Bank, The Huntington National Bank, M&T Bank, Canadian Imperial Bank of Commerce and Laurentian Bank of Canada.

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Case updates76 dated entries
#Sale

The court granted an approval and vesting order for the sale to 17208260 Canada Inc. Closing terms, as extracted: vesting effective upon delivery of the Monitor's Certificate confirming payment of cash proceeds and satisfaction/waiver of closing conditions.

Source: Easy Legal Approval and Vesting Order

#Sale

The court granted an approval and vesting order for the sale to Axis Holdings Ltd. Closing terms, as extracted: vesting effective upon delivery of Monitor's Certificate confirming satisfaction/waiver of closing conditions.

Source: Waypoint Approval and Vesting Order

#Sale

The court granted an approval and vesting order for the sale to Vault Auto Finance Corporation. Closing terms, as extracted: Vesting occurs upon delivery of the Monitor's Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions.

Source: Approval and Vesting Order

AnalysisAll insights⁠

Case update

Chesswood: the investor class action comes back for the bankruptcy stay

Cleared by the CCAA court on July 16, the proposed securities class action against Chesswood Group and its former chief executive and chief financial officer now asks the bankruptcy court, in a motion returnable October 1, to lift the s. 69.3 BIA stay as well, pleading that any recovery is limited to Chesswood's insurance; the bankrupt lists no asset of realizable value against $84,222,005.13 in claims.

Parties

Debtor

Chesswood Group Limited

Monitor

FTI

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice KimmelOntario Superior Court of Justice8 orders, Oct 2024 – Sep 2025182 cases on record
Justice CavanaghOntario Superior Court of Justice6 orders, Oct 2025 – Jan 2026288 cases on record
Justice OsborneOntario Superior Court of Justice2 orders, Mar 2025146 cases on record

Counsel of record

PartyCounselFirst seenSource
MonitorFTIAlston & Bird LLP · Osler, Hoskin & Harcourt LLP5 Mar 2025Service list · 17 Jul 2026
ApplicantChesswood Group LimitedBlake, Cassels & Graydon LLP29 Oct 2024Application · 29 Oct 2024
CreditorAgentBlake, Cassels & Graydon LLP13 Nov 2025Factum · 13 Nov 2025
CreditorAxis Holdings IncBorden Ladner Gervais LLP17 Jul 2026Service list · 17 Jul 2026
CreditorDaniel WittlinLax O'Sullivan Lisus Gottlieb LLP20 Nov 2025Application · 20 Nov 2025
CreditorNorth Mill Equipment Finance LLCBlake, Cassels & Graydon LLP17 Jul 2026Service list · 17 Jul 2026
Capital structureAs asserted in the filings
USD · stated amounts, drawn to scale
Priority classCreditorAmountSource
SecuredRoyal Bank of Canada, as Administrative Agent and Collateral Agent, and the Existing Lenders (The Toronto-Dominion Bank, The Huntington National Bank, M&T Bank, Canadian Imperial Bank of Commerce, LauGeneral security agreement dated December 8, 2014 (Borrower) and individual security agreements (Guarantors) over all present and after-acquired property, pursuant to second amended and restated credit agreement dated January 14, 2022 (Existing Credit Agreement) — USD portion of total outstanding under Credit Facilities; plus costs, expenses and accruing interest; excludes outstanding letters of credit (reported separately) — debtor: Chesswood Group Limited and Existing Guarantors (Case Funding Inc., Chesswood Holdings Ltd., Chesswood US Acquisitionco Ltd., Pawnee Leasing Corporation, Lease-Wi · as of 24 Oct 2024$66.3M USDNotice of Application of Royal Bank of Canada
SecuredRoyal Bank of Canada, as Administrative Agent, and the Existing LendersSame security as under Existing Credit Agreement (general security agreement / individual security agreements) — Outstanding letters of credit issued under Existing Credit Agreement (USD tranche) — debtor: Chesswood Group Limited and Existing Guarantors · as of 24 Oct 2024$4M USDNotice of Application of Royal Bank of Canada
Sale processAs stated in the filings

10 transactions · 8 closed · 2 approved — the Monitor has successfully completed the SISP and has identified and implemented five separate value maximizing transactions resulting in realization in excess of $130 millionNinth Report of the Monitor · 18 Jan 2026

NDAs signed

49

Fifth Report of the Monitor

Bids received

8

Fifth Report of the Monitor

Bid deadline (round closed)

20 January 2025

SISP Notice

Stalking horse

None

Second Report of the Monitor

PurchaserPriceStatusSource
VaultRelated partyall assets owned by the Vendors (excluding Excluded Assets) · asset sale · nominee/assignee: an affiliate · agreement 23 Jan 2025$12.5M (mixed consideration)CAD $12.5 million less the aggregate amount of the Vendors' cash paid to the DIP Agent as a mandatory repayment under the DIP Term Sheet, plus the value of the Accrued LiabilitiesApproved29 Jan 2025Endorsement of Justice Osborne (Approval and…
Vault Auto Finance Corporationall of the applicable Vendors' right, title and interest in and to the Purchased Assets · asset sale · nominee/assignee: a permitted assignee thereof · agreement 23 Jan 2025$12.5M (mixed consideration)Purchase Price is $12,500,000 less the Excess Cash Sweep Amount plus the value of Accrued LiabilitiesClosed14 Feb 2025Ninth Report of the Monitor
North Mill Equipment Finance, LLCthe Purchased Shares · share sale · ResidualCo: CGL Holdco, LLC · agreement 28 Feb 2025SealedPurchase price redacted in appended agreement; unredacted version filed as confidential appendixClosed1 Apr 2025Ninth Report of the Monitor
Axis Holdings Ltd.all of the Vendor's right, title and interest in and to the Purchased Shares · share sale · agreement 6 Jun 2025not statedApproved9 Jun 2025Waypoint Approval and Vesting Order
North Mill Equipment Finance, LLCall of the issued and outstanding shares in the capital of Pawnee and Tandem · share sale · agreement 28 Feb 2025not statedClosedSeventh Report of the Monitor
Vault Auto Finance Corporation100% of the issued and outstanding shares of Rifco Inc. · asset sale · agreement 13 Dec 2024$15MThe Purchase Price payable by Vault to Chesswood for the Purchased Shares is C$15,000,000, less certain adjustmentsClosedSeventh Report of the Monitor
North Mill Equipment Finance, LLCall of the Vendor's right, title and interest in and to the Bishop Equity Interests and the Bishop Assigned Contract · assets and shares · agreement 22 Jul 2025$1.22M USDPurchase Price per Section 3.1 of the Agreement; Purchaser also to pay Charge-Off Settlement AmountClosed18 Aug 2025outside 29 Aug 2025Ninth Report of the Monitor
17208260 Canada Inc.all of the applicable Vendors' right, title and interest in and to the Purchased Assets · asset sale · agreement 27 Aug 2025not statedthe Purchaser has paid the cash proceeds of the Purchase Price to the Monitor, on behalf of VendorsClosed23 Sep 2025Ninth Report of the Monitor
shares of Waypoint sold by CCMI; purchaser not named in this excerptall issued and outstanding shares of Waypoint Investment Partners Inc. · share sale · agreement 6 Jun 2025not statedClosedNinth Report of the Monitor
unnamedthe Waypoint Transactionnot statedClosed15 Aug 2025Ninth Report of the Monitor
AdvisorsRBC Capital Markets (financial advisor)Third Report of the Monitor
Closing termsvesting effective upon delivery of the Monitor's Certificate confirming payment of cash proceeds and satisfaction/waiver of closing conditionsEasy Legal Approval and Vesting Order
Sealed materialsConfidential Exhibit 'B-2' to the Fourth ReportApproval and Reverse Vesting Order
RecoveriesAs stated in the filings

Unsecured creditors: no distribution. Pre-Filing Lenders short.EstimatedFourth Report of the Monitor · 28 Feb 2025

ClassCreditorClaimsRecoveryBasisSource
SecuredChesswood Group's pre-filing secured creditors—shortfallEstimatedper the monitorSupplement to the Fifth Report of the Monitor · 30 Apr 2025
SecuredPre-Filing Agent / Pre-Filing Lenders—shortfallEstimatedper the monitorNinth Report of the Monitor · 18 Jan 2026
SecuredPre-Filing Lenders—shortfallper the monitorMotion Record of the Monitor (CCAA Termination Order) · 18 Jan 2026
Unsecured—$3.2Mestimatedno distributionEstimatedper the monitorFourth Report of the Monitor · 28 Feb 2025

Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.

Fees and ratesAs stated in the filings

9 engagements · 4 firms — latest: Osler, Hoskin & Harcourt LLP, 1 Sep 2025 – 12 Jan 2026Ninth Report of the Monitor · 18 Jan 2026

FirmPeriodHoursFeesRatesSource
(firm not named)Monitorperiod 2 of 2 · firm not named in the heading1 Sep – 31 Dec 2025Approved1,002.4—$948.75stated averageMotion Record of the Monitor (CCAA Termination Order) · 18 Jan 2026
Duff & PhelpsMonitorperiod 1 of 2 · firm not named in the heading1 Aug – 31 Aug 2025313.7$282,275.00ex. tax$240 – $1,2807 peopleSupplementary Motion Record of the Monitor (Stay Extension and… · 26 Sep 2025
7 people — Duff & Phelps, 1 Aug – 31 Aug 2025
NameTitleHoursRateFees
Dean MullettSenior Managing Director33.4$1,280$42,752.00
Jeffrey RosenbergSenior Managing Director48$1,280$61,440.00
Jodi PorepaSenior Managing Director64.2$1,090$69,978.00
Richard KimManaging Director44.2$1,060$46,852.00
Adsaran VithiyananthanDirector22.6$770$17,402.00
Jennifer YeConsultant100.2$435$43,587.00
Adam JohnstonIntern1.1$240$264.00
Total—313.7—$282,275.00
FTI Consulting Canada Inc.Monitorperiod 3 of 31 Sep – 31 Dec 2025Sought1,002.4—$948.75stated averageNinth Report of the Monitor · 18 Jan 2026
FTI Consulting Canada Inc.Monitorperiod 2 of 31 Aug – 31 Aug 2025313.7$282,275.00$240 – $1,2807 peopleSupplement to the Eighth Report of the Monitor · 26 Sep 2025
7 people — FTI Consulting Canada Inc., 1 Aug – 31 Aug 2025
NameTitleHoursRateFees
Dean MullettSenior Managing Director33.4$1,280$42,752.00
Jeffrey RosenbergSenior Managing Director48$1,280$61,440.00
Jodi PorepaSenior Managing Director64.2$1,090$69,978.00
Richard KimManaging Director44.2$1,060$46,852.00
Adsaran VithiyananthanDirector22.6$770$17,402.00
Jennifer YeConsultant100.2$435$43,587.00
Adam JohnstonIntern1.1$240$264.00
Total—313.7—$282,275.00
FTI Consulting Canada Inc.Monitorperiod 1 of 3—4,699.6—$973.29stated averageFifth Report of the Monitor · 25 Apr 2025
Osler, Hoskin & Harcourt LLPCounsel to the monitorperiod 4 of 41 Sep 2025 – 12 Jan 2026Approved354.7—$974.87stated averageNinth Report of the Monitor · 18 Jan 2026
Osler, Hoskin & Harcourt LLPCounsel to the monitorperiod 3 of 412 Feb – 31 Aug 2025—$1,259,909.00ex. taxnot statedSupplementary Motion Record of the Monitor (Stay Extension and… · 26 Sep 2025
Osler, Hoskin & Harcourt LLPCounsel to the monitorperiod 3 of 41 Aug – 31 Aug 202578.2$67,846.00ex. tax$325 – $1,20012 peopleSupplementary Motion Record of the Monitor (Stay Extension and… · 26 Sep 2025
12 people — Osler, Hoskin & Harcourt LLP, 1 Aug – 31 Aug 2025
NameYear of callHoursRateFees
David Rosenblat20138$1,200—
Kimberly Maguire20090.7$1,095—
Kelsey Armstrong201113.7$1,065—
Sean Stidwill201620.2$960—
Carrington Hickey20161.5$930—
Lipi Mishra20172.4$930—
Lauren Scott20220.2$730—
Tiffany Sun20223.5$730—
Tiffany Dang20231.1$680—
Albina Mamonkina202424.2$630—
Stephen Fulford—0.7$390—
Kevin MacEachern—2$325—
Osler, Hoskin & Harcourt LLPCounsel to the monitorperiod 1 of 429 Oct 2024 – 28 Feb 20251,668.3—$980.12stated averageFifth Report of the Monitor · 25 Apr 2025

Top rate $1,280 · 97th percentile of monitor rates, 2025 · of 39

Documents
76 filings
DateDocumentFile
Motion Record of the Class Action Plaintiff (Lifting the Stay of Proceedings)PDF
Service List
  • Counsel Blake, Cassels & Graydon LLP
PDF
Motion Record of the Class Action Plaintiff (Lift Stay Order)
  • Court SUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
  • Court file no CV-24-00730212-00CL
  • Province ONTARIO
  • Secured creditors $92.8M · Note: CAD component of amount owed as at October 24, 2024, per draft Statement of Claim; a separate USD-denominated component (US$66,254,723.30) was owed on the same date (see related entry) and cannot be summed with this figure without currency conversion; figure excludes unquantified costs, expenses, interest and letter-of-credit amounts. · Page: 174 · As of: 2024-10-24 · Debtor: Chesswood Group Ltd. · Creditor: Syndicated Lenders under the Syndicated Revolving Credit Facility (Royal Bank of Canada, The Toronto-Dominion Bank, The Huntington National Bank, M&T Bank, Canadian Imperial Bank of Commerce, and Laurentian Bank of Canada) · Security: Syndicated Revolving Credit Facility (SRCF) / Credit Agreement dated January 14, 2022; original maximum principal facility amount US$300 million
PDF
Form 19 - Certificate of AppointmentPDF
Form 78 - Statement of AffairsPDF
CCAA Termination Order
  • Presiding officer Justice Cavanagh
PDF
Endorsement of Justice Cavanagh (CCAA Termination Order)
  • Presiding officer Justice Cavanagh
PDF
Motion Record of the Monitor (CCAA Termination Order)
  • Fee schedule Engagements: Form: prose · Rows: · Money: Approximate: false · Period: End: 2025-12-31 · Kind: interim · Label: Monitor Approval Period · Quote: THIS COURT ORDERS that the fees and disbursements of the Monitor for the period from September 1, 2025, to December 31, 2025, (the ' Monitor Approval Period ') · Start: 2025-09-01 · Approval: Quote: THIS COURT ORDERS that the fees and disbursements of the Monitor for the period from September 1, 2025, to December 31, 2025, (the ' Monitor Approval Period ') as set out in the Rosenberg Fee Affidavit, are hereby approved. · State: approved · Averages: — · Currency: · Invoices: · Hours total: Quote: Total hours invoiced by the Monitor in this period were 1,002.40 for an average hourly rate charged of $948.75/hour. · Value: 1002.4 · Context quote: THIS COURT ORDERS that the fees and disbursements of the Monitor for the period from September 1, 2025, to December 31, 2025, (the ' Monitor Approval Period ') as set out in the Rosenberg Fee Affidavit, are hereby approved. · Firm unverified: true; Form: prose · Rows: · Money: Approximate: false · Period: End: 2026-01-12 · Kind: interim · Label: Counsel Approval Period · Quote: THIS COURT ORDERS that the fees and disbursements of the Monitor's Counsel for the period from September 1, 2025, to January 12, 2026, (the ' Counsel Approval Period ') as set out in the Stidwill Fee Affidavit, are hereby approved. · Start: 2025-09-01 · Approval: Quote: THIS COURT ORDERS that the fees and disbursements of the Monitor's Counsel for the period from September 1, 2025, to January 12, 2026, (the ' Counsel Approval Period ') as set out in the Stidwill Fee Affidavit, are hereby approved. · State: approved · Averages: exclusive of applicable taxes · Currency: · Invoices: · Firm text: Osler, Hoskin & Harcourt LLP · Firm quote: Lawyers for the Monitor · Hours total: Quote: As set out in Exhibit 'C', 354.70 hours were incurred by Osler personnel during the Billing Period · Value: 354.7 · Context quote: As set out in Exhibit 'C', 354.70 hours were incurred by Osler personnel during the Billing Period, which when divided by the total fees results in an average hourly rate of approximately $974.87 (exclusive of applicable taxes).
  • Recovery outcome Entries: per unstated · Stated on: 2026-01-18 · Table missing:
PDF
Ninth Report of the Monitor
  • Closing confirmed Closed · 14 Feb 2025 · Vault Auto Finance Corporation; Closed · 1 Apr 2025 · North Mill Equipment Finance, LLC; Closed · 15 Aug 2025; Closed · 18 Aug 2025 · North Mill; Closed · 23 Sep 2025 · 17208260 Canada Inc.
  • Fee schedule Engagements: Form: prose · Rows: · Money: Approximate: false · Period: End: 2025-12-31 · Kind: interim · Label: Monitor Approval Period · Quote: The Monitor now requests approval of its fees and disbursements for the period of September 1, 2025 to December 31, 2025, (the ' Monitor Approval Period ') · Start: 2025-09-01 · Approval: Quote: The Monitor now requests approval of its fees and disbursements for the period of September 1, 2025 to December 31, 2025 · State: sought · Averages: — · Currency: · Invoices: · Firm text: FTI Consulting Canada Inc. · Firm quote: NINTH REPORT TO THE COURT SUBMITTED BY FTI CONSULTING CANADA INC., IN ITS CAPACITY AS MONITOR · Hours total: Quote: Total hours invoiced by the Monitor in this period were 1,002.40 for an average hourly rate charged of $948.75/hour. · Value: 1002.4 · Context quote: The Monitor now requests approval of its fees and disbursements for the period of September 1, 2025 to December 31, 2025, (the ' Monitor Approval Period ') as set out in the affidavit of Jeffrey Rosenberg, made January 16, 2026 (the ' Rosenberg Affidavit '); Form: prose · Rows: · Money: Approximate: false · Period: End: 2026-01-12 · Kind: invoice · Label: Billing Period · Quote: the period from September 1, 2025 to January 12, 2026 (the ' Billing Period ') · Start: 2025-09-01 · Approval: State: unstated · Averages: exclusive of applicable taxes · Currency: · Invoices: · Firm text: Osler, Hoskin & Harcourt LLP · Firm quote: the Monitor's counsel, Osler, Hoskin & Harcourt LLP (' Osler ') · Hours total: Quote: 354.70 hours were incurred by Osler personnel during the Billing Period · Value: 354.7 · Context quote: the statements of account of Osler (the ' Osler Accounts ') in respect of services rendered to the Monitor in respect of the within proceedings for the period from September 1, 2025 to January 12, 2026 (the ' Billing Period ')
  • Purchaser Vault Auto Finance Corporation · certain assets by the Old Rifco Entities · asset sale · closed; North Mill Equipment Finance, LLC · all of the issued and outstanding shares in the capital of Pawnee and Tandem · share sale · closed; shares of Waypoint sold by CCMI; purchaser not named in this excerpt · all issued and outstanding shares of Waypoint · share sale · closed; North Mill · ResidualCo's right, title and interest in and to the Bishop Equity Interests and the Bishop Assigned Contract · assets and shares · closed; 17208260 Canada Inc. · the Easy Legal Assets · asset sale · closed
  • Recovery outcome Entries: per unstated · Stated on: 2026-01-18 · Table missing:
  • + 1 more extracted fact
PDF
Aide Memoire of Daniel Wittlin
  • Counsel Lax O'Sullivan Lisus Gottlieb LLP
PDF
Endorsement of Justice Cavanagh (Lift Stay Order)
  • Presiding officer Justice Cavanagh
PDF
Lift Stay Order
  • Order date 20 November 2025
  • Presiding officer Justice Cavanagh
PDF
Factum of Royal Bank of Canada, in its capacity as administrative and collateral agent (Lift Stay Order)
  • Counsel Blake, Cassels & Graydon LLP
PDF
Notice of Appearance - Daniel WittlinPDF
Blackline to the Revised Draft Order of Royal Bank of Canada, in its capacity as administrative and collateral agent (Lift Stay Order)
  • Order date 4 November 2025
PDF
Revised Draft Order of Royal Bank of Canada, in its capacity as administrative and collateral agent (Lift Stay Order)
  • Order date 4 November 2025
PDF
Motion Record of Royal Bank of Canada, in its capacity as administrative and collateral agent (Lift Stay Order)PDF
Endorsement of Justice Cavanagh (Stay Extension and Ancillary Relief Order)
  • Presiding officer Justice Cavanagh
PDF
Stay Extension and Ancillary Relief Order
  • Order date 2 October 2025
  • Presiding officer Justice Cavanagh
  • Stay extended to 30 January 2026
PDF
Supplement to the Eighth Report of the Monitor
  • Closing confirmed Closed · 23 Sep 2025 · 17208260 Canada Inc.
  • Fee schedule Engagements: Form: time_summary · Rows: Dean Mullett; Jeffrey Rosenberg; Jodi Porepa; Richard Kim; Adsaran Vithiyananthan; Jennifer Ye; Adam Johnston; Fees: 282275 · Hours: 313.7 · Quote: Total | Total | Total | 313.70 | 282,275.00 · Row kind: subtotal · Rate kind: standard · Name as stated: Total · Money: Fees: $282K · Quote: Total Professional Services | CAD | $282,275.00 · Approximate: false · Period: End: 2025-08-31 · Kind: invoice · Label: Supplemental Approval Period · Quote: the Monitor and Osler have each rendered an additional account in respect of these CCAA Proceedings, in each case for the period from August 1, 2025, to August 31, 2025 (the ' Supplemental Approval Period '). · Start: 2025-08-01 · Approval: State: unstated · Averages: — · Currency: · Invoices: Tax: 36700.35 · Date: 2025-09-11 · Fees: 282275 · Quote: 102900002747 | 9/11/2025 | 282,275.00 | 35.40 | 36,700.35 | 319,010.75 | 313.70 | 899.82 · Total: 319010.75 · Period end: 2025-08-31 · Average rate: 899.82 · Period start: 2025-08-01 · Disbursements: 35.4 · Firm text: FTI Consulting Canada Inc. · Firm quote: SUPPLEMENT TO THE EIGHTH REPORT OF FTI CONSULTING CANADA INC., AS MONITOR · Hours total: Quote: Total hours invoiced by the Monitor in this period were 313.70 for an average hourly rate charged of $899.82/hour. · Value: 313.7 · Context quote: SUPPLEMENT TO THE EIGHTH REPORT OF FTI CONSULTING CANADA INC., AS MONITOR
  • Purchaser 17208260 Canada Inc. · the 'Easy Legal' business · asset sale · closed
  • Recovery outcome Entries: per estimated · Stated on: 2025-09-26 · Table missing:
PDF
Supplementary Motion Record of the Monitor (Stay Extension and Ancillary Relief)
  • Fee schedule Engagements: Form: invoice_listing · Rows: Dean Mullett; Jeffrey Rosenberg; Jodi Porepa; Richard Kim; Adsaran Vithiyananthan; Jennifer Ye; Adam Johnston; Fees: 282275 · Hours: 313.7 · Quote: Total | Total | Total | 313.70 | 282,275.00 · Row kind: subtotal · Rate kind: standard · Name as stated: Total · Money: Tax: $36.7K · Label: HST · Quote: 36,700.35 · Fees: $282K · Quote: 282,275.00 · Total: $319K · Quote: 319,010.75 · includes tax · includes disbursements · Approximate: false · Disbursements: $35 · Quote: 35.40 · Period: End: 2025-08-31 · Kind: invoice · Label: Supplemental Approval Period · Quote: in each case for the period from August 1, 2025, to August 31, 2025 (the ' Supplemental Approval Period '). · Start: 2025-08-01 · Approval: State: unstated · Averages: — · Currency: Code: CAD · Quote: Total Professional Services | CAD | $282,275.00 · Invoices: Tax: 36700.35 · Date: 2025-09-11 · Fees: 282275 · Quote: 102900002747 | 9/11/2025 | 282,275.00 | 35.40 | 36,700.35 | 319,010.75 | 313.70 | 899.82 · Total: 319010.75 · Period end: 2025-08-31 · Average rate: 899.82 · Period start: 2025-08-01 · Disbursements: 35.4 · Firm text: Duff & Phelps · Hours total: Quote: 313.70 · Value: 313.7 · Context quote: Total hours invoiced by the Monitor in this period were 313.70 for an average hourly rate charged of $899.82/hour. · Firm unverified: true; Form: time_summary · Rows: Kelsey Armstrong; Tiffany Dang; Stephen Fulford; Carrington Hickey; Kevin MacEachern; Kimberly Maguire; Albina Mamonkina; Lipi Mishra; Dave Rosenblat; Lauren Scott; Sean Stidwill; Tiffany Sun · Money: Tax: $8.97K · Label: Taxes · Quote: $8,973.36 · Fees: $67.8K · Quote: $67,846.00 · Total: $78.3K · Quote: $78,338.19 · includes tax · includes disbursements · Approximate: false · Disbursements: $1.52K · Quote: $1,518.83 · Period: End: 2025-08-31 · Kind: invoice · Label: PERIOD OF AUGUST 1, 2025 TO AUGUST 31, 2025 · Quote: PERIOD OF AUGUST 1, 2025 TO AUGUST 31, 2025 · Start: 2025-08-01 · Approval: State: unstated · Averages: excluding expenses / disbursements and HST · Currency: Code: CAD · Quote: TOTAL (CAD): | 1,518.83 · Invoices: · Firm text: Osler, Hoskin & Harcourt LLP · Firm quote: Osler, Hoskin & Harcourt LLP · Hours total: Quote: Total: | 78.2 · Value: 78.2 · Context quote: As set out in Exhibit 'C', 78.2 hours were incurred by Osler personnel during the Billing Period, which when divided by the total fees results in an average hourly rate of approximately $867.60 (exclusive of applicable taxes).; Form: invoice_listing · Rows: · Money: Tax: $165K · Label: HST · Quote: $164,618.08 in HS · Fees: $1.26M · Quote: $1,259,909.00 in fees · Approximate: false · Disbursements: $7.4K · Quote: $7,400.79 in disbursements · Period: End: 2025-08-31 · Kind: cumulative · Label: Initial Counsel Approval Period to end of Supplemental Approval Period · Quote: For the overall period from the commencement of the Initial Counsel Approval Period to the end of the Supplemental Approval Period, Osler's accounts total $1,259,909.00 in fees, $7,400.79 in disbursements, and $164,618.08 in HS · Start: 2025-02-12 · Approval: State: unstated · Averages: · Currency: · Invoices: Tax: 30924.95 · Date: 2025-06-30 · Fees: 237398.5 · Quote: 13031375 | Jun-30-25 | 237,398.50 | 485.65 | 30,924.95 | 268,809.10 · Total: 268809.1 · Disbursements: 485.65; Tax: 21217.63 · Date: 2025-07-31 · Fees: 162223.5 · Quote: 13042180 | Jul-31-25 | 162,223.50 | 1,328.00 | 21,217.63 | 184,769.13 · Total: 184769.13 · Disbursements: 1328; Tax: 8973.36 · Date: 2025-09-22 · Fees: 67846 · Quote: 13072431 | Sep-22-25 | 67,846.00 | 1,518.83 | 8,973.36 | 78,338.19 · Total: 78338.19 · Period end: 2025-08-31 · Period start: 2025-08-01 · Disbursements: 1518.83 · Firm text: Osler, Hoskin & Harcourt LLP · Firm quote: Osler, Hoskin & Harcourt LLP · Context quote: For the overall period from the commencement of the Initial Counsel Approval Period to the end of the Supplemental Approval Period, Osler's accounts total $1,259,909.00 in fees, $7,400.79 in disbursements, and $164,618.08 in HS
  • Recovery outcome Entries: per estimated · Table missing:
PDF
Monitor's CertificatePDF
Easy Legal Approval and Vesting Order
  • Closing terms vesting effective upon delivery of the Monitor's Certificate confirming payment of cash proceeds and satisfaction/waiver of closing conditions
  • Order date 16 September 2025
  • Purchaser 17208260 Canada Inc. · all of the applicable Vendors' right, title and interest in and to the Purchased Assets · asset sale · approved
  • Sale outcome Sale approved — Asset Purchase Agreement and Transactions approved and vesting order granted
PDF
Endorsement of Justice Kimmel (Easy Legal AVO)
  • Presiding officer Justice Kimmel
PDF
Factum of the Monitor (Easy Legal AVO and CCAA Termination Order)
  • Counsel Osler, Hoskin & Harcourt LLP
PDF
Eighth Report of the MonitorPDF
Motion Record of the Monitor (Easy Legal AVO and CCAA Termination Order)PDF
Bishop Approval and Vesting Order
  • Closing terms Vesting occurs upon delivery of Monitor's Certificate confirming satisfaction/waiver of closing conditions
  • Outside date 29 August 2025
  • Purchaser North Mill Equipment Finance, LLC · all of the Vendor's right, title and interest in and to the Bishop Equity Interests and the Bishop Assigned Contract · asset sale · $1.22M USD · approved
PDF
Endorsement of Justice Kimmel (Bishop AVO)
  • Presiding officer Justice Kimmel
PDF
Factum of the Monitor (Bishop Approval and Vesting Order)PDF
Motion Record of the Monitor (Bishop AVO)PDF
Seventh Report of the Monitor
  • Closing confirmed Closed · 14 Feb 2025 · 942328 Alberta Inc. and 908696 Alberta Inc. (as Rifco Entities) to Vault Auto Finance Corporation; Closed · 1 Apr 2025 · North Mill Equipment Finance, LLC
  • Purchaser North Mill · the Bishop Equity Interest and the Bishop Assigned Contract (i.e., the Bishop LLC Agreement) (the 'Purchased Assets') · asset sale · price sealed · proposed; North Mill Equipment Finance, LLC · all of the issued and outstanding shares in the capital of Pawnee and Tandem · share sale · closed; Vault Auto Finance Corporation · certain assets by the Rifco Entities · asset sale · closed; purchaser of Waypoint Investment Partners Inc. shares, unnamed · all issued and outstanding shares of Waypoint Investment Partners Inc. · share sale · approved
PDF
Endorsement of Justice Kimmel (Waypoint AVO and Fourth Stay Extension Order)
  • Presiding officer Justice Kimmel
PDF
Fourth Stay Extension Order
  • Counsel Osler, Hoskin & Harcourt LLP
  • Order date 9 June 2025
  • Presiding officer Justice Kimmel
  • Stay extended to 3 October 2025
PDF
Waypoint Approval and Vesting Order
  • Closing terms vesting effective upon delivery of Monitor's Certificate confirming satisfaction/waiver of closing conditions
  • Order date 9 June 2025
  • Purchaser Axis Holdings Ltd. · all of the Vendor's right, title and interest in and to the Purchased Shares · share sale · approved
PDF
Factum of the Monitor (Approval and Vesting Order and Fourth Stay Extension)PDF
Motion Record of the Monitor (Approval and Vesting Order and Fourth Stay Extension Order)PDF
Sixth Report of the Monitor
  • Purchaser Axis Holdings Ltd. · the Purchased Shares · share sale · proposed
  • Sale outcome Approval pending — Proposed Waypoint Transaction, pending Court approval
PDF
Endorsement of Justice Dietrich (Stay Extension and Ancillary Relief Order)
  • Presiding officer Justice Dietrich
PDF
Factum of the Monitor (Third Stay Extension and Ancillary Relief)
  • Counsel Osler, Hoskin & Harcourt LLP
PDF
Supplement to the Fifth Report of the Monitor
  • Recovery outcome Entries: per estimated; per estimated; per estimated · Stated on: 2025-04-30 · Table missing:
PDF
Fifth Report of the Monitor
  • Closing confirmed Closed · 14 Feb 2025 · Vault Auto Finance Corporation
  • Fee schedule Engagements: Form: prose · Rows: · Money: Approximate: false · Period: Kind: unstated · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: FTI Consulting Canada Inc. · Firm quote: FIFTH REPORT OF FTI CONSULTING CANADA INC., AS MONITOR · Hours total: Quote: Total hours invoiced by the Monitor in this period were 4,699.60 for an average hourly rate charged of $973.29/hour · Value: 4699.6 · Context quote: Total hours invoiced by the Monitor in this period were 4,699.60 for an average hourly rate charged of $973.29/hour; Form: prose · Rows: · Money: Approximate: false · Period: End: 2025-02-28 · Kind: invoice · Label: Billing Period · Quote: in respect of services rendered to the Monitor in respect of the within proceedings for the period from October 29, 2024, to February 28, 2025 (the ' Billing Period '). · Start: 2024-10-29 · Approval: State: unstated · Averages: — · Currency: · Invoices: · Firm text: Osler, Hoskin & Harcourt LLP · Firm quote: the Monitor's legal counsel, Osler, Hoskin & Harcourt LLP · Hours total: Quote: 1,668.30 hours were incurred by Osler personnel during the Billing Period · Value: 1668.3 · Context quote: and disbursements of the Monitor's legal counsel, Osler, Hoskin & Harcourt LLP, respectively, as described in the Fee Affidavits (as defined below); and
  • Process results 49 NDAs · 8 bids
  • Purchaser North Mill Equipment Finance, LLC · all of the issued and outstanding shares in the capital of Pawnee and Tandem · share sale · closed; Vault Auto Finance Corporation · certain assets by the Rifco Entities · asset sale · closed
  • + 1 more extracted fact
PDF
Motion Record of the Monitor (Third Stay Extension Order and Ancillary Relief)PDF
Endorsement of Justice Osborne (Approval and Reverse Vesting Order and Stay Extension Order)
  • Presiding officer Justice Osborne
PDF
Approval and Reverse Vesting Order
  • Closing terms Delivery of Monitor's Certificate triggers the Effective Time and Closing Sequence, including vesting of ResidualCo assets and Purchased Shares.
  • Purchaser North Mill Equipment Finance, LLC · the Purchased Shares · share sale · price sealed · approved
  • Residualco CGL Holdco, LLC
  • Sale outcome Sale approved — Approval and Reverse Vesting Order approving the Share Purchase Agreement and Transactions
  • + 1 more extracted fact
PDF
Stay Extension Order
  • Order date 7 March 2025
  • Presiding officer Justice Osborne
  • Stay extended to 2 May 2025
PDF
Factum of the Monitor (Approval and Reverse Vesting Order and Stay Extension Order)
  • Counsel Osler, Hoskin & Harcourt LLP
PDF
Fourth Report of the Monitor
  • Closing confirmed Closed · 14 Feb 2025 · Vault Auto Finance Corporation
  • Purchaser North Mill Equipment Finance, LLC · all of the issued and outstanding shares (the ' Purchased Shares ') · share sale · proposed; Vault Auto Finance Corporation · certain assets by the Rifco Entities · asset sale · closed
  • Recovery outcome Entries: per estimated · Stated on: 2025-02-28 · Table missing:
PDF
Motion Record of the Monitor (Approval and Reverse Vesting Order and Stay Extension Order)
  • Recovery outcome Entries: per estimated; per estimated · Table missing:
PDF
Approval and Vesting Order
  • Closing terms Vesting occurs upon delivery of the Monitor's Certificate confirming payment of the Purchase Price and satisfaction/waiver of closing conditions
  • Order date 29 January 2025
  • Purchaser Vault Auto Finance Corporation · nominee/assignee a permitted assignee thereof · all of the applicable Vendors' right, title and interest in and to the Purchased Assets · asset sale · $12.5M · approved
PDF
Endorsement of Justice Osborne (Approval and Vesting Order and Stay Extension Order)
  • Closing terms closing condition regarding consent and waiver of certain rights with Securitization Parties
  • Order date 29 January 2025
  • Purchaser Vault (related party) · nominee/assignee an affiliate · all assets owned by the Vendors (excluding Excluded Assets) · asset sale · $12.5M · approved
  • Sale outcome Sale approved — the Rifco APA and the AVO are approved
PDF
Factum of the Monitor (Approval and Vesting Order and Stay Extension Order)PDF
Motion Record of the Monitor (Approval and Vesting Order and Stay Extension Order)PDF
Third Report of the Monitor
  • Process results 180 solicited · as of 23 Jan 2025
  • Purchaser Vault · the Purchased Assets · asset sale · $250K C$ · proposed
  • Sale advisor RBC Capital Markets (financial advisor)
  • Sale outcome Approval pending — Proposed Rifco Transaction pending court approval
PDF
Notice of Appearance - Deutsche Bank Trust Company AmericasPDF
SISP NoticePDF
Endorsement of Justice Kimmel
  • Presiding officer Justice Kimmel
PDF
KERP Approval Order
  • Presiding officer Justice Kimmel
PDF
SISP Approval Order
  • Bid deadline 20 January 2025
  • Order date 19 December 2024
  • Outside date 14 March 2025
  • Presiding officer Justice Kimmel
  • + 1 more extracted fact
PDF
SISP Procedures
  • Bid deadline 20 January 2025
  • Outside date 15 March 2025
PDF
Motion Record of the MonitorPDF
Second Report of the Monitor
  • Process results 187 solicited · 26 NDAs · 6 bids · as of 14 Dec 2024
  • Purchaser Vault Auto Finance Corporation · 100% of the issued and outstanding shares of Rifco Inc. · share sale · $15M · proposed
  • Sale advisor RBC Capital Markets (financial advisor)
  • Sale outcome Approval pending — The Monitor is of the view that the Transaction should be approved and that the proposed Approval and Reverse Vesting Order is necessary, reasonable and justified in the circumstances
  • + 1 more extracted fact
PDF
Notice of Appearance - VP Polus TrustPDF
Amended and Restated Initial Order
  • Order date 7 November 2024
  • Stay expiry 31 January 2025
PDF
Notice of Appearance - Berger MontaguePDF
Notice of Appearance - VersaBankPDF
Factum of Royal Bank of CanadaPDF
First Report of the MonitorPDF
Motion Record of Royal Bank of CanadaPDF
Application Record of Royal Bank of Canada
  • Secured creditors Note: Listed on Service List under heading 'PPSA and UCC Registrants'; amount and security details not stated in this excerpt · Page: 3 · Debtor: Chesswood Group entities (unspecified) · Creditor: Deutsche Bank Trust Company Americas · Security: PPSA/UCC registration (type and priority not stated)
PDF
CCAA FAQsPDF
Initial Order
  • Applicant Royal Bank of Canada
  • Appointee FTI Consulting Canada Inc.
  • Appointee role monitor
  • Court SUPERIOR COURT OF JUSTICE
  • + 6 more extracted facts
PDF
List of Known CreditorsPDF
Notice of Application of Royal Bank of Canada
  • Applicant Royal Bank of Canada
  • Appointee FTI Consulting Canada Inc.
  • Appointee role monitor
  • Commencement date 29 October 2024
  • + 5 more extracted facts
PDF
Notice to CreditorsPDF
Pre-Filing Report of the Proposed Monitor
  • Secured creditors Note: Amounts per demand letters' Schedule A (as at Oct 24, 2024, stated in components, not summed): US Prime Rate Advances USD 65,834,462.12 + interest USD 411,972.46; Canadian Prime Rate Advances CAD 92,334,580.61 + interest CAD 452,948.84; Documentary Credits (LCs) CAD 6,600,000.00 and USD 4,000,000.00; LC Fee CAD 10,397.27 and USD 6,301.37; Commitment Fee USD 1,987.35 -- plus unquantified accrued interest and legal/professional fees. Multiple Events of Default declared (borrowing base breach, leverage ratio, CFADS ratio, EBIT covenant, OSC reporting default) and repayment demanded by Nov 7, 2024; Notices of Intention to Enforce Security (BIA s.244) delivered. Separate condition-precedent ceiling under proposed DIP facility: aggregate principal outstanding under Credit Agreement (post DIP advances) not to exceed USD 165,293,169.65 -- a covenant ceiling, not a balance. Demand letters sent to Borrower and multiple corporate guarantors (identical Schedule A); only Case Funding Inc. named as a guarantor recipient among excerpted pages. · Page: 19 · As of: 2024-10-24 · Debtor: Chesswood Group Limited (Borrower), with guarantees from Case Funding Inc. and other Chesswood Group entities under omnibus/individual security and guarantee agreements · Creditor: Royal Bank of Canada, as Administrative Agent and Collateral Agent for the Lending Group · Currency: USD · Security: Second amended and restated Credit Agreement dated January 14, 2022 (as six times amended); Security Agreement dated December 8, 2014 (Borrower); Omnibus Guarantee (U.S.) dated December 8, 2014 and Omnibus Security Agreement (U.S.) dated December 8, 2014 with joinder agreements (Jan 8, 2019; Dec 24, 2021) for guarantors; separate guarantor security agreements dated December 21, 2021 and January 14, 2022
PDF

Filing titles, dates, and extracted key facts are public.

CiteProceedings., “Chesswood Group Limited” (CCAA), Ontario Superior Court of Justice · Commercial List. Retrieved 20 September 2026, https://proceedings.ca/case/chesswood-group-limited

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Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/chesswood-group-limited

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.

Chesswood Group Limited — CCAA | Proceedings.