Commcache Asset Management Inc. and 52 Lacroix Inc. are the subject of a court-appointed receivership before the Ontario Superior Court of Justice (In Bankruptcy and Insolvency), Commercial List, under court file number CV-24-00723897-00CL. The appointment rests on section 243 of the Bankruptcy and Insolvency Act together with provincial Judicature Act authority. The proceeding is recorded as active. No commencement date and no dated milestones have been read out of the filings on this record.
The court granted an approval and vesting order for the sale to 581 Cataraqui Inc. Closing terms, as extracted: Vesting occurs upon delivery of the Receiver's Certificate confirming payment of Purchase Price and satisfaction/waiver of conditions to Closing.
Source: Approval and Vesting Order of Justice Steele dated September 3, 2026
The court granted an approval and vesting order for the sale to Sudbury Apartment Rentals Limited. Closing terms, as extracted: Vesting is effective upon delivery of the Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of conditions, and completion of the Transaction.
Source: Approval and Vesting Order of Justice Dietrich dated August 5, 2025
Approval and Vesting Order of Justice Black Steele dated April 15 2025 was filed.
Source: Approval and Vesting Order of Justice Black Steele dated April 15 2025
Approval and Vesting Order of Justice Black dated January 30 2025 was filed.
Source: Approval and Vesting Order of Justice Black dated January 30 2025
The court appointed BDO Canada Limited as receiver, on the application of NATIONAL BANK OF CANADA. Court file CV-24-00723897-00CL.
Source: Order - Conway, J.
Outcome brief
Commcache: four price cuts and 18 months for the last building
On September 3, 2026, Justice Steele approved the sale of Commcache's 18-unit Windsor building to 581 Cataraqui Inc., the last of five Ontario apartment buildings National Bank put into receivership in 2024; the price is sealed, the receiver may pay the bank an interim $1,120,000 on a Windsor loan of $3,235,747 that it expects to fall short on, and BDO holds $600,000 back against a CRA HST claim on the earlier Sudbury sales.
Debtor
Commcache Asset Management Inc. and 52 Lacroix Inc.
Receiver
BDO
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 5 orders, Apr 2025 – Sep 2026 | 245 cases on record |
| Justice Black | Ontario Superior Court of Justice | 4 orders, Jan 2025 – Apr 2025 | 198 cases on record |
| Justice Dietrich | Ontario Superior Court of Justice | 2 orders, Aug 2025 | 132 cases on record |
| Justice Conway | Ontario Superior Court of Justice | 2 orders, Aug 2024 | 310 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantNational Bank of Canada | Thornton Grout Finnigan LLP | 14 Aug 2024 | Order · 14 Aug 2024 |
| PurchaserPurchaser of 52 Lacroix Property | Vellani Law | 24 Jan 2025 | Service list · 24 Jan 2025 |
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | National Bank of Canada · in 101 casesFirst-ranking mortgages: Hartman Avenue Property ($2,100,000 principal, registered June 22, 2021, Instrument No. SD424534); John Street Property ($1,818,000 principal, registered March 4, 2022, Instrument No. CK203148); King Street Property ($2,460,000 principal, registered May 25, 2023, Instrument No. SD476145); Windsor Property ($3,240,000 principal, registered August 4, 2023, Instrument No. CE1146073); first-ranking GSA over all personal property/assets used in connection with the Commcache Real Property; general assignments of rents and leases — Indebtedness accelerated following default; · as of 17 Jun 2024 | $8.42M | Application Record dated July 24 2024 |
| Secured | |||
| Secured |
2 more claims in 1 class The stack holds Secured claims.
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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.
4 transactions · 4 approved — the Transaction is hereby approvedApproval and Vesting Order of Justice Steele dated September 3, 2026 · 3 Sep 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 1001107085 Ontario Inc.52 Lacroix's right, title and interest in and to the real property described in the Sale Agreement · real property · agreement 16 Dec 2024 | not stated | Approved30 Jan 2025 | Approval and Vesting Order of Justice Black… |
| Sudbury Apartment Rentals LimitedCommcache's right, title and interest in and to the real property described in the Sale Agreement (the "Real Property") · real property · agreement 12 Feb 2025 | not stated | Approved15 Apr 2025 | Approval and Vesting Order of Justice Black… |
| Sudbury Apartment Rentals LimitedCommcache's right, title and interest in and to the real property described in the Sale Agreement · real property · agreement 9 Jul 2025 | not stated | Approved5 Aug 2025 | Approval and Vesting Order of Justice Dietrich… |
| 581 Cataraqui Inc.Commcache's right, title and interest in and to the real property described in the Sale Agreement (the "Real Property") · real property · agreement 8 Jun 2026 | not stated | Approved3 Sep 2026 | Approval and Vesting Order of Justice Steele… |
National Bank of Canada: a distribution.FinalMotion Record - Receiver · 24 Jul 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | National Bank of Canada | interim | Final | Motion Record - Receiver · 24 Jul 2025 |
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.
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The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Ancillary Order of Justice Steele dated September 3, 2026
| PDF · Subscribers | |
Approval and Vesting Order of Justice Steele dated September 3, 2026
| PDF · Subscribers | |
Endorsement of Justice Steele dated September 3, 2026
| PDF · Subscribers | |
| Factum of the Receiver dated August 24, 2026 | PDF · Subscribers | |
| Motion Record - Receiver – dated August 14, 2026 | PDF · Subscribers | |
Ancillary Order of Justice Dietrich dated August 5, 2025
| PDF · Subscribers | |
Approval and Vesting Order of Justice Dietrich dated August 5, 2025
| PDF · Subscribers | |
Endorsement of Justice Dietrich dated August 5, 2025
| PDF · Subscribers | |
| Factum of the Receiver dated July 25, 2025 | PDF · Subscribers | |
Motion Record - Receiver - dated July 24, 2025
| PDF · Subscribers | |
Ancillary Order of Justice Steele dated April 15 2025
| PDF · Subscribers | |
Approval and Vesting Order of Justice Black Steele dated April 15 2025
| PDF · Subscribers | |
Endorsement of Justice Steele dated April 15 2025
| PDF · Subscribers | |
| Factum of the Receiver dated April 7 2025 | PDF · Subscribers | |
| Motion Record - Receiver - dated April 4 2025 | PDF · Subscribers | |
Ancillary Order of Justice Black dated January 30, 2025
| PDF · Subscribers | |
Approval and Vesting Order of Justice Black dated January 30 2025
| PDF · Subscribers | |
Endorsement of Justice Black dated January 30, 2025
| PDF · Subscribers | |
| Factum of the Receiver dated January 24, 2025 | PDF · Subscribers | |
Service List dated January 24, 2025
| PDF · Subscribers | |
Motion Record - Receiver - dated January 21, 2025
| PDF · Subscribers | |
Endorsement - Conway, J.
| PDF · Subscribers | |
Order - Conway, J.
| PDF · Subscribers | |
Application Record dated July 24 2024
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Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Commcache Asset Management Inc. and 52 Lacroix Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/commcache-asset-management-inc-and-52-lacroix-inc
Sources last checked · summary updated 8 August 2026 · Report a correction · Printed from proceedings.ca/case/commcache-asset-management-inc-and-52-lacroix-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.