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Aspire - Reports
The following reports have been filed in the proceedings:
 Second Report of the Receiver |
October 23, 2025 |
The purpose of this report (the "Second Report") is to provide information to this Court with respect to:
- the status of the Transaction, and in particular the Option (as defined in the Second Report);
- the activities of the Receiver since the First Report;
- the receipts and disbursements of the Receiver for the period from May 6, 2025 to October 21, 2025;
- the professional fees and disbursements of the Receiver;
- the professional fees and disbursements of the Receiver's counsel, Stikeman Elliott LLP ("Stikeman Elliott"); and
- the Receiver's motion returnable October 27, 2025, seeking:
- an order amending the Approval and Vesting Order to, among other things, remove the Option as a "Permitted Encumbrance" (the "Amended AVO"); and
- an order (the "Distribution, Discharge, and Fee Approval Order"), among other things (A) authorizing the Receiver to make the distributions contemplated therein, (B) approving the First Report, the Supplement to the First Report, and this Second Report and the activities of the Receiver as set out therein, (C) approving the Receiver's statement of receipts and disbursements for the period from May 6, 2025, to October 21, 2025, (D) approving the fees and disbursements of the Receiver and Stikeman Elliott, and (E) terminating these proceedings and discharging the Receiver from the powers, duties, and obligations attendant to its appointment as Receiver upon serving the Discharge Certificate on the service list.
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| Supplement to the First Report of the Receiver |
September 22, 2025 |
The purpose of this Supplemental Report is to:
(a) advise the Court that the Receiver and the Purchaser have executed an amendment to the Asset Purchase Agreement (the "Amending Agreement") dated September 19, 2025; and
(b) provide information to the Court with respect to the Amending Agreement.
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| First Report of the Receiver |
September 18, 2025 |
The purpose of this report (the "First Report") is to provide information to this Court with respect to:
- the Aspire Group, the Property and these proceedings (the "Receivership Proceedings");
- the activities of the Receiver since its appointment on May 6, 2025 (the "Appointment Date");
- the receipts and disbursements of the Receiver for the period from the Appointment Date to August 31, 2025;
- the Receiver's motion for an order (the "Approval and Vesting Order"), among other things,
- approving the asset purchase agreement between the Receiver, in its capacity as receiver and manager of the Aspire Group, as vendor, and Halali Group Holdings Ltd. as purchaser (the "Purchaser") dated August 28, 2025 (as may be further amended and restated, including by means of the Amending Agreement (as defined below), the "Asset Purchase Agreement");
- authorizing and approving the transaction contemplated by the Asset Purchase Agreement (the "Transaction"), and authorizing and directing the Receiver to take such additional steps and execute such additional documents as may be necessary or desirable for the completion of the Transaction;
- vesting in the Purchaser the right, title and interest of the Aspire Group, with the exception of Aspire Food Group USA, Inc. (the "Aspire Vendors") in and to the Purchased Assets (as defined in the Asset Purchase Agreement), upon delivery of the Receiver's certificate, substantially in the form attached as Schedule "A" to the Approval and Vesting Order; and
- sealing the confidential supplement (the "Confidential Supplement") to this First Report until further order of the Court.
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