CB Holdings — the court-appointed receivership of CB 4632 Ontario Inc., CB 4656 Ontario Inc. and the Estate of Claude Bitton, under BIA s. 243 and provincial Judicature Act authority — remains active, with the estate's recoveries turning on the Real Property and a senior debt that exceeds its registered principal. Canada ICI Capital Corporation, holder of a first-ranking mortgage registered in the original principal amount of $26,828,687, is owed $30,629,193.75 as of July 15, 2026, accruing at a per diem of $7,313.57; a Capstone Legal opinion confirms the mortgage is valid and enforceable, and Canada ICI is expected to suffer a shortfall on the sale. Ranking ahead are municipal property tax liens of $219,681 across the Real Property and CRA HST deemed-trust claims of $197,055.00 against CB 4632 and $651,974.24 against CB 4656 as of April 16, 2026. The majority of the HST arrears predate the ICI Loan, and an assignment into bankruptcy, which Canada ICI has sought, would reverse their priority.
The court granted an approval and vesting order for the sale to Yonge and Cameron LP, by its general partner, Yonge and Cameron GP Inc., Embee Properties Limited and CCD 4656 Yonge LP, by its general partner, CCD 4656 Yonge GP Inc. Closing terms, as extracted: vesting effective upon delivery of the Receiver's Certificate confirming payment of purchase price and satisfaction of closing conditions.
Outcome brief
CB Holdings: the would-be stalking horse wins the Yonge Street assembly
BDO would not back CentreCourt's stalking-horse terms. After 39 confidentiality agreements and six offers, CentreCourt's bid won at a sealed price, reduced when it waived its due-diligence condition; on July 22 the court approved the sale and, on Canada ICI's motion, directed BDO to assign the two numbered owners into bankruptcy.
Debtor
CB Holdings
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 3 orders, Jul 2026 | 245 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverBDO | Chaitons LLP | 22 Jul 2026 | Order · 22 Jul 2026 |
| Applicant | Chaitons LLP | 9 Jan 2026 | Order · 9 Jan 2026 |
| ApplicantCanada ICI Capital Corporation | Chaitons LLP | 22 Jul 2026 | Order · 22 Jul 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Canada ICI Asset Management Groupas identified by Receiver based on limited available books and records — Listed under 'Secured Liabilities' in Receiver's statement; security instrument not described on this page. — debtor: CB 4632 Ontario Inc., CB 4656 Ontario Inc. and Michelle Moyal (Estate Trustee for the Estate of Claude Bitton) | $27.7M | Receiver's Notice |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
9 more claims in 3 classes The stack holds Secured, Preferred (BIA s. 136) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansThis 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 approved — Transaction approved and vesting order grantedRevised Approval and Vesting Order · 22 Jul 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Yonge and Cameron LP, by its general partner, Yonge and Cameron GP Inc., Embee Properties Limited and CCD 4656 Yonge LP, by its general partner, CCD 4656 Yonge GP Inc.the Debtors' right, title and interest in and to the assets described in the Sale Agreement (the 'Purchased Assets') · real property · agreement 5 Jun 2026 | not stated | Approved22 Jul 2026 | Revised Approval and Vesting Order |
Canada ICI Capital Corporation: shortfall.EstimatedMotion Record · 16 Jul 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | Canada ICI Capital Corporation | — | shortfall | Estimatedper the receiver | Motion Record · 16 Jul 2026 |
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.
2 engagements · 2 firms — latest: BDO Canada Limited, 9 Jan – 3 Jul 2026, soughtMotion Record · 17 Jul 2026
| Firm | Period | Hours | Fees | Rates | Source |
|---|---|---|---|---|---|
| BDO Canada LimitedReceiver | 9 Jan – 3 Jul 2026Sought | Motion Record · 17 Jul 2026 | |||
| Chaitons LLPCounsel | 21 Jan – 30 Jun 2026 | Motion Record · 17 Jul 2026 |
6 blurred figures above
What each firm billed — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Distribution and Ancillary Relief Order
| PDF · Subscribers | |
Order Lifting Staying of Proceedings
| PDF · Subscribers | |
Revised Approval and Vesting Order
| PDF · Subscribers | |
Motion Record
| PDF · Subscribers | |
Receiver's Notice
| PDF · Subscribers | |
Court Order
| 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., “CB Holdings” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/cb-holdings
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/cb-holdings
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.