Castello Development Ltd. has been in bankruptcy under the Bankruptcy and Insolvency Act since April 10, 2014, with Samson Bélair/Deloitte & Touche Inc. acting as trustee and the estate carried in the Superior Court of Québec under file no. 500-11-046561-144. The Statement of Affairs, as stated and estimated by the officer as at April 8, 2014, put total assets at $2,445,537.39 against total liabilities of $10,822,975.70, a deficiency of $8,377,438.31, with secured and preferred creditors both nil. Unsecured claims are dominated by Homburg Invest Inc. at $9,504,269.00, followed by the Receiver General of Canada – St-John's Tax Centre at $40,098.44, with smaller trade, legal and utility accounts and a contingent claim of $1,267,000.00 by Condominium Corporation No. 0812418 estimated to rank for dividend at nil. The proceeding remains active.
A claims procedure has been established — see the order for deadlines.
The officer filed report no. Trustee's Preliminary Report to Creditors. Castello's condominium project has been fully sold, its bank accounts closed and funds transferred to the Trustee; the company no longer has any operations and has filed an assignment in bankruptcy. Court file 500-11-046561-144.
A claims process was approved in the estate, which Samson Bélair/Deloitte & Touche Inc. administers as trustee under the Bankruptcy and Insolvency Act.
Source: Notice to Creditors
Debtor
Castello Development Ltd.
Trustee in bankruptcy
Deloitte
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Homburg Invest Inc. · in 6 casesdebtor: Castello Development Ltd. · as of 8 Apr 2014 | $9.5M | Statement of Affairs |
| Unsecured | Condominium Corporation No. 0812418Listed as contingent/other liability, estimated to rank for dividend at $0.00 — debtor: Castello Development Ltd. · as of 8 Apr 2014 | $1.27M | Statement of Affairs |
| Unsecured | Receiver General of Canada - St-John's Tax Centredebtor: Castello Development Ltd. · as of 8 Apr 2014 | $40.1K | Statement of Affairs |
| Unsecured | Sotheby's International Realty Quebec · in 2 casesdebtor: Castello Development Ltd. · as of 8 Apr 2014 | $2.1K | Statement of Affairs |
| Unsecured | iFactor FBO Flor-Ready Ltd.debtor: Castello Development Ltd. · as of 8 Apr 2014 | $1.97K | Statement of Affairs |
| Unsecured | FMC Building Services Inc. · in 2 casesdebtor: Castello Development Ltd. · as of 8 Apr 2014 | $1.93K | Statement of Affairs |
| Unsecured | Canadian Envirotec Inc. · in 2 casesdebtor: Castello Development Ltd. · as of 8 Apr 2014 | $1.75K | Statement of Affairs |
| Unsecured | Western Site Technologies Inc.debtor: Castello Development Ltd. · as of 8 Apr 2014 | $1.31K | Statement of Affairs |
| Unsecured | W. Roy Shouldice · in 2 casesdebtor: Castello Development Ltd. · as of 8 Apr 2014 | $891 | Statement of Affairs |
| Unsecured | Norton Rose Fulbright · in 14 casesdebtor: Castello Development Ltd. · as of 8 Apr 2014 | $644 | Statement of Affairs |
| Unsecured | Transition Contracting Ltd.debtor: Castello Development Ltd. · as of 8 Apr 2014 | $378 | Statement of Affairs |
| Unsecured | MoldPro Inc.debtor: Castello Development Ltd. · as of 8 Apr 2014 | $341 | Statement of Affairs |
| Unsecured | The City of Calgary - Property Taxes · in 3 casesdebtor: Castello Development Ltd. · as of 8 Apr 2014 | $158 | Statement of Affairs |
| Unsecured | Carma Billing Services Inc.debtor: Castello Development Ltd. · as of 8 Apr 2014 | $87 | Statement of Affairs |
| Unsecured | Home Depot · in 16 casesdebtor: Castello Development Ltd. · as of 8 Apr 2014 | $26 | Statement of Affairs |
| Unsecured | MacDonald Chisholm Trask Insurance · in 2 casesdebtor: Castello Development Ltd. · as of 8 Apr 2014 | $25 | Statement of Affairs |
Unsecured creditors: a distribution.EstimatedTrustee’s Preliminary Report to Creditors · 1 May 2014
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | a distributionconditional | Estimatedper the trustee | Trustee’s Preliminary Report to Creditors · 1 May 2014 |
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.
As at 8 Apr 2014 · per Statement of Affairs as stated and estimated by the officer · Castello Development Ltd. (single entity) — Secured creditors and preferred creditors both stated as NIL (List B and List C totals $0.00). Deficiency of $8,377,438.31 reported.
Cash on hand
$2.45M
As at 1 May 2014Trustee’s Preliminary Report to Creditors
| Date | Document | File |
|---|---|---|
Trustee’s Preliminary Report to Creditors
| ||
Notice to Creditors
| ||
| Certificate of Appointment | ||
Statement of Affairs
| ||
Proof of Claim Form, Proxy & Instruction Sheet
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Castello Development Ltd.” (Bankruptcy), Superior Court of Québec. Retrieved 20 September 2026, https://proceedings.ca/case/castello-development-ltd
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/castello-development-ltd
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.