Proceedings.

Comfort Smart Homes Incorporated

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Proceeding
NOIBankruptcy and Insolvency Act, as amended
Court
Supreme Court of Nova Scotia
File
51-3383517
Industry
Real estate · Rental & income property
Filings held49
Last activity2 Nov 2026
On the record150 days
Secured debtSubscribers
OverviewSummary updated

Comfort Smart Homes Incorporated filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act in the Supreme Court of Nova Scotia on June 26, 2026, with Grant Thornton Limited named proposal trustee under court file 51-3383517. A creditor listing as at June 8, 2026 names Computershare Trust Company of Canada, acting for PeakHill Capital Inc., as a secured creditor owed $3,700,000, alongside Bank of Montreal as a further secured creditor. Unsecured claims listed include the Canada Revenue Agency for corporate taxes and HST, and the Town of Truro for property taxes of $29,303, along with trade creditors including Nova Scotia Power, Fero Waste & Recycling, and Truly Nolen.

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Case updates47 dated entries · 2 undated
#Report

The officer filed report no. Fifth Report. The Company continues to manage its five multi-unit residential buildings through a third-party property manager while the Proposal Trustee administers a court-approved sale process. The Proposal Trustee recommends approving the Amended Stalking Horse Agreement with Ridgeway as the successful bid, closing by about November 17, 2026, after which substantially all assets are sold, operations cease and a deemed bankruptcy is expected.

Source: Fifth Report of the Proposal Trustee dated October 30, 2026

#Report

The officer filed report no. Second Report. The Company continues to operate its Truro-area residential rental buildings in the ordinary course, collecting tenant rents. A third-party property manager (PMco) has been engaged, and a sale and investment solicitation process is proposed to realize value.

Source: Second Report of the Proposal Trustee dated July 21, 2026

#Report

The officer filed a report. The Court did not approve, on a without prejudice basis, the Company's DIP financing, DIP Charge and Admin Charge, leaving it with insufficient funding for professional fees and a restructuring plan, which the Proposal Trustee reports as a material adverse change; the Company is developing a revised application including a SISP and enhanced powers for the Proposal Trustee.

Source: Material Adverse Change Report dated July 8, 2026

#Report

The officer filed report no. First Report. The Company is a real estate investor operating five multi-unit residential buildings (43 units, 79% occupied) in Truro and Truro Heights, with no employees. It is in NOI proceedings amid a shareholder dispute and is seeking DIP financing to fund a restructuring that may involve a sale process, refinancing or a proposal.

Source: First Report of the Proposal Trustee dated June 30, 2026

Undated filings2 — no date appears on the document · show
AnalysisAll insights⁠

Case update

Comfort Smart Homes: Peakhill's terms for letting a buyer assume its mortgages

Peakhill's October 1 letter confirmed continued CMHC insurance as a condition of its consent to an assumption, and estimated CMHC would need two to three months. Concerned an assumption might not close within the NOI's six months, the trustee and Comfort explored a share deal, which Ridgeway declined; Comfort seeks a stay to November 30.

Filing brief

Comfort Smart Homes: $3.8 million, or the mortgages it has no right to prepay

A Truro landlord whose indirect owners are embroiled in a shareholder dispute filed a notice of intention on June 8; on September 4, the proposal trustee reports, the court approved Ridgeway Management Inc.'s stalking-horse bid for its five apartment buildings, at $3,800,000 in cash or an assumption of Peakhill Capital's CMHC-insured mortgages, with a $50,000 break fee and a $3,950,000 floor for rival bids due September 28.

Parties

Debtor

Comfort Smart Homes Incorporated

Proposal trustee

Doane Grant Thornton

Bench and counselPer the orders and service lists on the record

Counsel of record

PartyCounselFirst seenSource
CreditorBank of Montreal Ben DurnfordHeritage House Law Office29 Jun 2026Application · 29 Jun 2026
CreditorColin Hennigar Sara LStewart McKelvey9 Oct 2026Application · 9 Oct 2026
CreditorDarren DO'Keefe & Sullivan29 Jun 2026Application · 29 Jun 2026
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredPeakhill Capital Inc. · in 4 casesMortgage - Anita Crescent properties (65, 66 Anita Crescent, Truro, NS), Loan Number 1081257; includes outstanding principal $2,852,485.78, interest $10,306.57, holdback $20,000.00, prepayment penalty $805,000.00, admin fee $2,000.00, legal costs/admin fee $12,000.00, discharge fee $1,000.00 — Net amount required for discharge per Payout Statement dated July 31, 2026; includes CMHC prepayment penalty; per diem interest of $332.47 accrues thereafter; enforceability of penalty not yet resolved by Proposal Trustee — debtor: Comfort Smart Homes Incorporated · as of 31 Jul 2026$3.7MThird Report of the Proposal Trustee dated August 31, 2026
4Secured
4Secured
4Secured
4Secured
7Preferred (BIA s. 136)
8Unsecured
8Unsecured
8Unsecured
8Unsecured

13 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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Sale processAs stated in the filings

Approval pending — Proposal Trustee's motion seeks approval of the Stalking Horse Agreement, with SISP milestones proposed to be amendedThird Report of the Proposal Trustee dated August 31, 2026 · 31 Aug 2026

Bid deadline

14 September 2026

SISP Procedures.pdf

Stalking horse

Ridgeway Management Inc. · Subscribers

Third Report of the Proposal Trustee dated August 31,…

PurchaserPriceStatusSource
Ridgeway Management Inc.Stalking horsethe Residential Properties · real property · agreement 28 Aug 2026SubscribersProposedoutside 16 Oct 2026Third Report of the Proposal Trustee dated…
RecoveriesAs declared or paid

Unsecured creditors: no distribution. Bank of Montreal paid in full.EstimatedFifth Report of the Proposal Trustee · 30 Oct 2026

ClassCreditorClaimsRecoveryBasisSource
SecuredBank of Montreallistedpaid in fullFinalper the proposal trusteeThird Report of the Proposal Trustee · 31 Aug 2026
Unsecured——no distributionEstimatedper the proposal trusteeFifth Report of the Proposal Trustee · 30 Oct 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.

1 blurred figure above

The claims and what each class or creditor recovers — each as the filing states it, with its source.

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Estate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing

As at ·

Cumulative receipts

$134K

As at 15 Oct 2026Fourth Report of the Proposal Trustee dated October 15, 2026

Cumulative disbursements

As at

Cash on hand

As at

Professional fees

As at

3 more reported figures, and the 2 totals the debtor stated at filing

Each one as the filing states it, with its source.

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Documents
49 filings
DateDocumentFile
Pre-Hearing Memo dated November 2, 2026PDF · Subscribers
Draft Order Approving Accounts dated October 30, 2026PDF · Subscribers
Draft Order for Confidentiality dated October 30, 2026PDF · Subscribers
Draft Sale Approval and Vesting Order dated October 30, 2026PDF · Subscribers
Fifth Report of the Proposal Trustee dated October 30, 2026
  • Operational summary The Company continues to manage its five multi-unit residential buildings through a third-party property manager while the Proposal Trustee administers a court-approved sale process. The Proposal Trustee recommends approving the Amended Stalking Horse Agreement with Ridgeway as the successful bid, closing by about November 17, 2026, after which substantially all assets are sold, operations cease and a deemed bankruptcy is expected.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 7 more extracted facts
PDF · Subscribers
Notice of Motion dated October 30, 2026
  • Counsel O'Keefe & Sullivan
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Affidavit of Stephen Kingston dated October 29, 2026PDF · Subscribers
Fourth Report of the Proposal Trustee dated October 15, 2026
  • Operational summary The company continues to operate its five multi-unit residential properties through a third-party property manager (PMco) while the trustee runs a court-approved sale process (SISP). Negotiations continue after the stalking horse bidder declined a reverse vesting order structure, and a stay extension to November 30, 2026 is sought.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 6 more extracted facts
PDF · Subscribers
Draft Order dated October 9, 2026PDF · Subscribers
Notice of Motion dated October 9, 2026
  • Counsel O'Keefe & Sullivan
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Unsworn Affidavit of Fabian Fraser dated October 9, 2026
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Solicitation letter.pdfPDF · Subscribers
Notice to Potential Bidders of Stalking Horse Agreement dated September 4, 2026PDF · Subscribers
Sworn Affidavit of Fabian Fraser dated September 3, 2026PDF · Subscribers
Brief of Law dated August 31, 2026PDF · Subscribers
Draft Order dated August 31, 2026
  • Order date 1 September 2026
PDF · Subscribers
Notice of Motion dated August 31, 2026
  • Counsel Heritage House Law Office
PDF · Subscribers
Third Report of the Proposal Trustee dated August 31, 2026
  • Operational summary Comfort continues to operate its five multi-unit residential rental properties in Truro/Truro Heights, NS under a third-party property manager while the Proposal Trustee administers a court-approved SISP and negotiates a stalking horse agreement with Ridgeway Management Inc.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 10 more extracted facts
PDF · Subscribers
Brief of Law dated August 28, 2026PDF · Subscribers
Draft Order dated August 28, 2026PDF · Subscribers
Notice of Motion dated August 28, 2026
  • Counsel Heritage House Law Office
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Stalking Horse Agreement dated August 28, 2026PDF · Subscribers
Unsworn Affidavit of Fabian Fraser dated August 28, 2026PDF · Subscribers
Notice of Amendment.pdfPDF · Subscribers
Second Report of the Proposal Trustee dated July 21, 2026
  • Operational summary The Company continues to operate its Truro-area residential rental buildings in the ordinary course, collecting tenant rents. A third-party property manager (PMco) has been engaged, and a sale and investment solicitation process is proposed to realize value.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 6 more extracted facts
PDF · Subscribers
- Unsworn Affidavit of Fabian Fraser dated July 17, 2026PDF · Subscribers
Amended Notice of Motion dated July 17, 2026PDF · Subscribers
Brief of Applicant dated July 17, 2026PDF · Subscribers
Draft Extension, DIP and Charges Order dated July 17, 2026PDF · Subscribers
Draft SISP Order dated July 17, 2026PDF · Subscribers
Notice of Motion dated July 10, 2026
  • Counsel Heritage House Law Office
PDF · Subscribers
Material Adverse Change Report dated July 8, 2026
  • Operational summary The Court did not approve, on a without prejudice basis, the Company's DIP financing, DIP Charge and Admin Charge, leaving it with insufficient funding for professional fees and a restructuring plan, which the Proposal Trustee reports as a material adverse change; the Company is developing a revised application including a SISP and enhanced powers for the Proposal Trustee.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 3 more extracted facts
PDF · Subscribers
DIP Term Sheet dated July 2, 2026PDF · Subscribers
Sworn Affidavit of Fabian Fraser dated July 2, 2026PDF · Subscribers
Draft Order with appendix dated June 30, 2026PDF · Subscribers
First Report of the Proposal Trustee dated June 30, 2026
  • Operational summary The Company is a real estate investor operating five multi-unit residential buildings (43 units, 79% occupied) in Truro and Truro Heights, with no employees. It is in NOI proceedings amid a shareholder dispute and is seeking DIP financing to fund a restructuring that may involve a sale process, refinancing or a proposal.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 7 more extracted facts
PDF · Subscribers
Unsworn Affidavit of Fabian Fraser dated June 30, 2026PDF · Subscribers
Admin Charge, DIP Financing and Extension Application dated June 29, 2026
  • Applicant Comfort Smart Homes Incorporated
  • Appointee Grant Thornton Limited
  • Appointee role Proposal Trustee
  • Counsel Heritage House Law Office
  • + 3 more extracted facts
PDF · Subscribers
Amended Admin Charge, DIP Financing and Extension Application dated June 29, 2026
  • Counsel Heritage House Law Office
PDF · Subscribers
Brief of Applicant dated June 29, 2026PDF · Subscribers
Mailing Affidavit dated June 15, 2026PDF · Subscribers
Creditor Listing as of June 8, 2026
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Form 33 - Notice of Intention to Make a Proposal
  • Appointee Grant Thornton Limited
  • Appointee role trustee
  • Commencement date 8 June 2026
  • Province Nova Scotia
  • + 1 more extracted fact
PDF · Subscribers
Non-Disclosure Agreement.pdf
  • Sale outcome Sale process approved — The Court issued a SISP Order, effective July 24, 2026, approving a sale and investment solicitation process (including bidding procedures) to be administered by the Proposal Trustee; this NDA is required of parties participating in the SISP.
  • Break fee · Stalking horse Subscribers
PDF · Subscribers
Proposal Consent dated June 8, 2026PDF · Subscribers
SISP Procedures.pdf
  • Bid deadline 14 September 2026
  • Outside date 16 October 2026
  • Break fee · Stalking horse Subscribers
PDF · Subscribers
Directors Resolution dated June 4, 2026PDF · Subscribers
Revised Tender FormPDF · Subscribers
Tender Form.pdfPDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Comfort Smart Homes Incorporated” (NOI), Supreme Court of Nova Scotia. Retrieved 4 November 2026, https://proceedings.ca/case/comfort-smart-homes-incorporated

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Sources last checked · summary updated 6 September 2026 · Report a correction · Printed from proceedings.ca/case/comfort-smart-homes-incorporated

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.