Boreal Capital Partners Ltd. has been under CCAA protection in the Ontario Superior Court of Justice since February 2, 2022, when the application commencing the proceeding was filed on the Commercial List under court file CV-21-00672654-00CL. The applicants are Boreal Capital Partners Ltd. together with five related Ontario entities: JRB-331 Sheddon Holdings Ltd., 2123068 Ontario Limited, JRB-109 Reynolds Holdings Ltd., JRB-339 Church Holdings Ltd. and JRB-147 Church Holdings Ltd. The proceeding remains active.
A claims procedure has been established — see the order for deadlines.
Per the Claims Procedure Order dated 25 March 2022.
The court granted an approval and vesting order for the sale to Richard Von Hagen and Cindy Von Hagen. Closing terms, as extracted: vesting effective upon delivery of Monitor's Certificate confirming payment of purchase price and completion of Transaction.
Motion Record re Approval and Vesting Orders (Suites 204 and 208) - Sheddon Project) - Returnable August 22, 2023 — Approval and vesting order
63 earlier updates, back to 25 November 2021 — subscribers.
Debtor
Boreal Capital
Monitor
EY
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Penny | Ontario Superior Court of Justice | 12 orders, Nov 2021 – Aug 2022 | 179 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantBoreal Capital | Thornton Grout Finnigan LLP | 22 Jun 2022 | Endorsement · 22 Jun 2022 |
| CreditorKyla Mahar | Miller Thomson LLP | 22 Jun 2022 | Endorsement · 22 Jun 2022 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Halmont Properties CorporationFrom preliminary List of Creditors, prepared from Applicant's financial records without admission as to liability — debtor: Boreal Capital Partners Ltd., JRB-331 Sheddon Holdings Ltd., 2123068 Ontario Limited, JRB-109 Reynolds Holdings Ltd., JRB-339 Church Holdings Ltd., JRB-147 Church Holdings Ltd. · as of 23 Nov 2021 | $44.7M | Creditors Listing |
18 transactions · 16 approved · 2 proposed — the eighteen purchase agreements of the Sold Units of the Sheddon Project were approved and vested; an ancillary order approving a form of order for the sale of the two unsold units in the future was also granted007. Seventh Report of the Monitor · 28 Jul 2022
| Purchaser | Price | Status | Source |
|---|---|---|---|
| condominium unit purchasers named in each respective Purchase Agreement, not individually identified in this documentreal property described in each of the Purchase Agreements · real property | not stated | Proposed | Sixth Report of the Monitor |
| purchaser of the Unsold Units, unnamed and to be filled in laterthe Unsold Units · real property | not stated | Proposed | Sixth Report of the Monitor |
| Alice Smiththe Company's right, title and interest in and to the assets described in the Sale Agreement (the ' Purchased Assets ') · real property · agreement 29 Jul 2018 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 302) |
| Ian McLeod and Melanie McLeodthe assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 16 Jan 2017 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 103) |
| Iris Zawadowski and Andrew Zawadowskithe Company's right, title and interest in and to the assets described in the Sale Agreement (the ' Purchased Assets ') · real property · agreement 2 Dec 2016 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 205) |
| Issac Bazal and Rebecca Bazalthe Company's right, title and interest in and to the assets described in the Sale Agreement (the ' Purchased Assets ') · real property · agreement 2 Dec 2016 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 105) |
| John Brian Langford Thomas and Susan Dilys Thomasthe Company's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 18 Dec 2016 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 104) |
| John Robert Piercy and Barbara Lynn Piercythe Company's right, title and interest in and to the assets described in the Sale Agreement (the ' Purchased Assets ') · real property · agreement 3 May 2017 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 202) |
| Karen Louise Koury and Allen Joseph Barabasthe Company's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 23 Jan 2017 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 207) |
| Linda Virginia Gammiero and Dominic Gammierothe Company's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 1 Dec 2020 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 304) |
| Matthew Varey and Andrea Jackthe Company's right, title and interest in and to the assets described in the Sale Agreement (the ' Purchased Assets ') · real property · agreement 8 Dec 2020 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 102) |
| Michael Collins and Margaret Collinsthe assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 22 Feb 2021 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 303) |
| Stephen Tristram Finbar Rowe and Bridget Anne Rowethe Company's right, title and interest in and to the assets described in the Sale Agreement (the ' Purchased Assets ') · real property · agreement 4 Dec 2016 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 101) |
| Thomas Edward Mills and Ann Shirley Millsthe Company's right, title and interest in and to the assets described in the Sale Agreement (the ' Purchased Assets ') · real property · agreement 23 Dec 2016 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 106) |
| Wendy Youzwyshyn and Leonard Youzwyshynthe assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 31 Jan 2017 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 203) |
| William Paul Finkbeinerthe Company's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 3 Dec 2016 | not stated | Approved25 Jul 2022 | Approval and Vesting Order (Suite 305) |
| purchasers of the eighteen Sold Units of the Sheddon Project, unnamedthe eighteen purchase agreements of the Sold Units of the Sheddon Project · real property | not stated | Approved | 007. Seventh Report of the Monitor |
| Richard Von Hagen and Cindy Von Hagenthe Company's right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 29 Jun 2023 | not stated | Approved22 Aug 2023 | Approval and Vesting Order (Suite 208) |
Unsecured creditors: a distribution. Halmont Properties Corporation a distribution · Roppongi a distribution · Halmont paid in full.Under the plan · sanctionedNotice of Motion · 29 Jul 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Halmont Properties Corporation | — | a distribution | Under the plansanctionedper the court | Sanction Order · 10 Jun 2022 |
| Secured | Roppongi | — | a distribution | Under the plansanctionedper the court | Sanction Order · 10 Jun 2022 |
| Preferred | CCAA Charge beneficiaries and CCAA Priority Payment Claims | — | paid in full | Under the plansanctionedper the debtor | Notice of Motion · 29 Jul 2022 |
| Unsecured | Affected General Unsecured Creditors | — | a distributionconditional | Under the plansanctionedper the debtor | Notice of Motion · 29 Jul 2022 |
| UnsecuredFunded Debt Unsecured Creditor | Halmont | — | paid in full | Under the plansanctionedper the debtor | Notice of Motion · 29 Jul 2022 |
| Equity | — | — | no recovery | Under the plansanctionedper the debtor | Notice of Motion · 29 Jul 2022 |
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.
1 engagement · 1 firm — Lenczner Slaght LLP, 24 Nov 2021 – 30 May 2022007. Seventh Report of the Monitor · 28 Jul 2022
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| Lenczner Slaght LLPCounsel to the monitor | 24 Nov 2021 – 30 May 2022Sought | — | — | —17 people | 007. Seventh Report of the Monitor · 28 Jul 2022 |
Cash on hand
$32.5M
As at 5 Aug 2022Supplement to the Seventh Report of the Monitor
| Date | Document | File |
|---|---|---|
Amended and Restated Approval and Vesting Order (Suite 204)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 208)
| PDF · Subscribers | |
Motion Record re Approval and Vesting Orders (Suites 204 and 208) - Sheddon Project) - Returnable August 22, 2023
| PDF · Subscribers | |
| 007 Monitor’s Certificate | PDF · Subscribers | |
Endorsement of Penny, J. re Sanction Order
| PDF · Subscribers | |
Sanction Order
| PDF · Subscribers | |
Supplement to the Seventh Report of the Monitor
| PDF · Subscribers | |
| Factum of the Applicants (Plan Sanction Order) | PDF · Subscribers | |
Notice of Motion - Returnable August 9, 2022
| PDF · Subscribers | |
007. Seventh Report of the Monitor
| PDF · Subscribers | |
Approval and Vesting Order (Suite 101)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 102)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 103)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 104)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 105)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 106)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 107)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 201)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 202)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 203)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 204)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 205)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 206)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 207)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 302)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 303)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 304)
| PDF · Subscribers | |
Approval and Vesting Order (Suite 305)
| PDF · Subscribers | |
Endorsement of Justice Penny
| PDF · Subscribers | |
Form of Approval and Vesting Order and Approval of Monitor's Reports
| PDF · Subscribers | |
Sixth Report of the Monitor
| PDF · Subscribers | |
| Motion Material re Vesting Orders & Ancillary Relief - Returnable July 25, 2022 | PDF · Subscribers | |
As noted above, the Meeting of the Affected Creditors of the Applicants to vote on the CCAA Plan is scheduled for July 21, 2022. Pursuant to section 23(1)(d.1) of the CCAA, the Monitor is required to file a report with the Court on the state of the Applicants’ business and financial affairs in advance of the Meeting. Pursuant to section 23(1)(e) of the CCAA, the Monitor is required to advise the Applicants’ creditors of the filing of such report. The purpose of this Fifth report of the Monitor (the “Fifth Report”) is to provide the Court and the Applicants’ creditors with an update and/or report on: a) the Applicants’ business and financial affairs; b) an update on the Investigation; c) the status of the Claims Process; and d) the Monitor’s recommendation to Affected Creditors with respect to voting on the CCAA Plan
| PDF · Subscribers | |
| June 27, 2022 | PDF · Subscribers | |
| Court Order re Meeting of Creditors to be held July 21, 2022 at 10:00 AM | PDF · Subscribers | |
Endorsement of Justice Penny re Meeting Order and Stay Extension
| PDF · Subscribers | |
| Form of Proxy | PDF · Subscribers | |
Meeting Order - to be held July 21, 2022 at 10:00 AM
| PDF · Subscribers | |
| Notice of Meeting of Creditors | PDF · Subscribers | |
| Plan Resolution | PDF · Subscribers | |
Stay Extension Order - stay extended to August 31, 2022
| PDF · Subscribers | |
Fourth Report of the Monitor
| PDF · Subscribers | |
CCAA Amended Plan of Arrangement
| PDF · Subscribers | |
Meeting Order Motion Returnable June 22, 2022
| PDF · Subscribers | |
Redline Changes CCAA Amended Plan of Arrangement - 10 Jun 2022
| PDF · Subscribers | |
Claims Procedure Order
| PDF · Subscribers | |
Dispute Notice
| PDF · Subscribers | |
| Instruction Letter to Complete a Proof of Claim | PDF · Subscribers | |
| Notice of Revision and Disallowance | PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
| Third Report of the Monitor | PDF · Subscribers | |
Claims Procedure Motion Returnable February 25, 2022
| PDF · Subscribers | |
Stay Extension Order - to June 30, 2022
| PDF · Subscribers | |
| Second Report of the Monitor | PDF · Subscribers | |
Stay Extension Motion - Returnable February 8, 2022
| PDF · Subscribers | |
| Amended and Restated Initial Order | PDF · Subscribers | |
| Factum of The Applicants | PDF · Subscribers | |
| The purpose of this First Report of the Monitor (the "First Report") is to provide information to the Court on: (a) the Applicants' operations and communications with stakeholders since the granting of the Initial Order; (b) the Monitor's activities since its appointment; (c) the Applicants' motion for an Amended and Restated Initial Order (the "ARIO") substantially in the form attached to the Applicants' Application Record dated November 29, 2021, among other things: (i) extending the Stay Period to February 18, 2022; (ii) increasing the amount of the Administration Charge to $300,000; (iii) increasing the amount that the Applicants are entitled to borrow under the DIP Facility to $10,000,000; (iv) authorizing Kesmark Estates Ltd. ("Kesmark"), in its capacity as Chief Restructuring Officer (the "CRO") of the Boreal Entities, with the consultation of the Monitor, to conduct an investigation with respect to the Property Transfers (as defined in the Initial Order); and (v) amending the powers, services and duties that the CRO is authorized to perform to include conducting the Investigation in consultation with the Monitor, changing the signatory on the Boreal Entities' bank accounts and redirecting the mail sent to the Boreal Entities by changing their mailing addresses | PDF · Subscribers | |
| An Amended and Restated Initial Order (the “ARIO”) substantially in the form attached to the Motion Record at Tab 2, amending and restating the Initial Order granted in these proceedings on November 25, 2021 (the “Initial Order”), which among other things: (a) abridges the time for service of the Notice of Motion and the Motion Record herein and dispensing with further service thereof; (b) orders that the Stay Period set out in paragraph 10 of the Initial Order be extended to February 18, 2022; (c) increases the amount of the Administration Charge to $300,000; (d) increases the amount that the Applicants are entitled to borrow under the DIP Facility (as defined below) to $10,000,000; (e) grants Kesmark Estates Ltd. (“Kesmark”), in its capacity as Chief Restructuring Officer (the “CRO”) of the Boreal Entities (as defined below), with the consultation of the Monitor, to conduct an investigation with respect to the Property Transfers (as defined below); (f) directs Aird & Berlis LLP, as Escrow Agent (the “Escrow Agent”) pursuant to the Deposit Trust Agreement dated November 9, 2016 (the “DTA”), to transfer to the Monitor any funds that it currently holds, or in the future may receive or hold, as rental fees for occupancy of units of the Real Property (which, for greater certainty, does not include the Deposits, as defined in the DTA, unless in accordance with the terms and provisions of the DTA); and (g) amends the powers, services and duties that the CRO is authorized to perform to changing the signatory on the Boreal Entities’ bank accounts, and (iii) redirecting mail sent to the Boreal Entities and changing their mailing addresses; and include (i) conducting the Investigation in consultation with the Monitor, (ii) changing the signatory on the Boreal Entities’ bank accounts, and (iii) redirecting mail sent to the Boreal Entities and changing their mailing addresses; and 2. Such further and other relief as this Court deems just | PDF · Subscribers | |
| Application Record | PDF · Subscribers | |
Endorsement
| PDF · Subscribers | |
| Factum | PDF · Subscribers | |
Initial Order dated November 25, 2021
| PDF · Subscribers | |
| The purpose of this Pre-filing Report is to provide the following information to this Court: a) EY’s qualifications to act as Monitor; b) an overview of the Applicants; c) background on the circumstances leading to the Applicants’ decision to commence CCAA proceedings; d) an overview of the Applicants’ 13-week cash flow forecast on a consolidated basis for all the Applicants (the “Cash Flow Forecast”) and the Proposed Monitor’s comments regarding the reasonableness thereof; and e) certain relevant matters about the relief sought in the Initial Order | PDF · Subscribers | |
Creditors Listing
| 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., “Boreal Capital” (CCAA), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/boreal-capital
Sources last checked · summary updated 21 August 2026 · Report a correction · Printed from proceedings.ca/case/boreal-capital
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.