Algoma Residential Co-Operative Inc. has been under court-appointed receivership since October 24, 2012, when the Ontario Superior Court of Justice named Grant Thornton Limited as Receiver on the application of Canada Mortgage and Housing Corporation. The appointment was made under section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended, and the proceeding is carried on the Ontario court file as CV-25973-12. The receivership remains active, with Grant Thornton Limited continuing to act in the Receiver's role conferred by the appointment.
The court granted an approval and vesting order for the sale to Algoma District Services Administration Board. Closing terms, as extracted: Vesting upon delivery of Receiver's Certificate.
Source: Approval and Vesting Order dated September 20, 2018.PDF
10 earlier updates, back to 24 October 2012 — subscribers.
Debtor
Algoma Residential Co-Operative Inc.
Receiver
Doane Grant Thornton
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Canada Mortgage and Housing Corporation · in 5 casesFirst mortgage on the Property (originally given to Morguard Trust Company in the amount of $3,556,828.97, dated March 31, 1983, transferred through several holders to CMHC April 1, 1998); also General Assignment of Rents — Amount outstanding on Mortgage as of October 1, 2012 per para 44; demand letter dated September 28, 2012 stated $3,832,982.00 due and payable as of September 21, 2012 with interest accruing at $633.29 per diem (see also arrears figure of $1,810,277.41 as at October 1, 2012, which is arrears only, not full balance); Notice of Intention to Enforce Security under s.244 BIA ser · as of 1 Oct 2012 | $3.84M | Receiver's First Report dated March 25, 2014 |
This proceeding was commenced by a secured creditor. The record does not include the debtor’s own statement of assets and liabilities — that ceiling is the record’s, not this page’s.
Sale approvedApproval and Vesting Order dated September 20, 2018.PDF · 20 Sep 2018
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Algoma District Services Administration Boardthe Debtor's right, title and interest in and to the assets described in the Sale Agreement · asset sale · agreement 20 Aug 2018 | not stated | Approved20 Sep 2018 | Approval and Vesting Order dated September 20,… |
| Date | Document | File |
|---|---|---|
Approval and Vesting Order dated September 20, 2018.PDF
| PDF · Subscribers | |
| Motion Record returnable September 20, 2018.pdf | PDF · Subscribers | |
| Approval of Conduct and Fees - August 2, 2018.PDF | PDF · Subscribers | |
| Motion Record returnable August 2, 2018.pdf | PDF · Subscribers | |
Sale Approval and Vesting Order - August 2, 2018.PDF
| PDF · Subscribers | |
| Motion Record returnable June 2, 2017 | PDF · Subscribers | |
Order re Approval of Receiver's Conduct and Fee's - June 2, 2017
| PDF · Subscribers | |
Court Order of Justice Gareau, April 10, 2014
| PDF · Subscribers | |
Endorsement of Justice Gareau, April 10, 2014
| PDF · Subscribers | |
| Motion Record returnable April 10, 2014 | PDF · Subscribers | |
Receiver's First Report dated March 25, 2014
| PDF · Subscribers | |
Receivership Order dated October 24, 2012
| PDF · Subscribers | |
Application Record - October 17, 2012
| 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., “Algoma Residential Co-Operative Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/algoma-residential-co-operative-inc
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/algoma-residential-co-operative-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.