125 Ferris Inc. is subject to an active bankruptcy proceeding, with insolvency recorded as of December 20, 2024. The Trustee's creditor listing, based on the debtor's books and records, identifies Laurentian Bank of Canada as a secured creditor owed $5,918,367.00 and the Corporation of the City of North Bay as a secured creditor for a municipal property tax claim of $262,537.87 tied to Tax Roll 040.063.27600.0000. Unsecured claims listed include CBRE Limited at $148,332.81, North Bay Hydro at $13,649.37, Enbridge at $10,451.95, and a separate City of North Bay water department account of $1,316.48.
The officer filed a report. The Company's sole asset is real property held as nominee/legal title holder for co-tenant investors, with no other business operations; the Trustee intends to relist the property for sale to determine creditor recoveries.
The officer filed report no. Third Report. The Company's sole asset, the Real Property, remains actively listed for sale through JLL after a significant price reduction, and the Company continues to rely on DIP funding to cover critical carrying costs while seeking a stay extension to advance the sale process.
Source: Third Report of the Proposal Trustee dated November 1, 2024
The officer filed report no. Second Report to Court. The Company holds title to a real property in North Bay, Ontario as nominee for co-tenant investors and has no other business operations; it is undergoing a court-supervised sale process of the property, funded by a DIP facility, while seeking an extension of the stay and proposal deadline.
Source: Second Report of the Proposal Trustee dated September 16, 2024
The officer filed report no. First Report. The Company's Real Property is largely vacant except for a non-paying office tenant slated for eviction, and the Company is pursuing urgent DIP financing to fund critical carrying costs while conducting a court-supervised sale process of the Real Property through JLL. Court file BK-24-03101800-0031.
Source: First Report of the Proposal Trustee dated July 26, 2024
Certificate for the Notice of Intention to Make a Proposal dated July 8, 2024 — NOI certificate of filing
Debtor
125 Ferris Inc.
Proposal trustee
KSV
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Laurentian Bank of Canada · in 16 casesas of insolvency date (20-Dec-2024) — Attn: Leanne M. Williams; per Trustee's creditor listing based on debtor's books and records — debtor: 125 Ferris Inc. | $5.92M | Notice to Creditors of First Meeting of Creditors |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
5 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plans| Date | Document | File |
|---|---|---|
Trustee's Preliminary Final Report
| PDF · Subscribers | |
Notice to Creditors of First Meeting of Creditors
| PDF · Subscribers | |
| Certificate of Appointment | PDF · Subscribers | |
Endorsement of Justice Steele dated November 5, 2024
| PDF · Subscribers | |
Extension Order dated November 5, 2024
| PDF · Subscribers | |
| Factum of the Moving Party, 125 Ferris Inc. dated November 1, 2024 | PDF · Subscribers | |
Third Report of the Proposal Trustee dated November 1, 2024
| PDF · Subscribers | |
Endorsement of Justice Osborne dated September 20, 2024
| PDF · Subscribers | |
Extension Order dated September 20, 2024
| PDF · Subscribers | |
Second Report of the Proposal Trustee dated September 16, 2024
| PDF · Subscribers | |
| Factum of 125 Ferris Inc. dated July 29, 2024 | PDF · Subscribers | |
First Report of the Proposal Trustee dated July 26, 2024
| PDF · Subscribers | |
Motion Record dated July 24, 2024
| PDF · Subscribers | |
| Certificate for the Notice of Intention to Make a Proposal dated July 8, 2024 | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “125 Ferris Inc.” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/125-ferris-inc
Sources last checked · summary updated 13 August 2026 · Report a correction · Printed from proceedings.ca/case/125-ferris-inc
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.