#Order
Endorsement of Justice McEwan (extension of holdback) dated Feb 13, 2019 — Endorsement / reasons
Fortress Brookdale Inc.
FollowActive
- Proceeding
- Receivership (court-appointed)Sections 97 and 100 of the Courts of Justice Act, R.S.O. 1990 c. C.43
- File
- CV-18-604993-00CL
OverviewSummary updated
Fortress Brookdale Inc. is the subject of a court-appointed receivership application brought by Firm Capital Mortgage Fund Inc. before the Ontario Superior Court of Justice (Commercial List) on September 12, 2018, under sections 97 and 100 of the Courts of Justice Act, seeking the appointment of RSM Canada Limited as receiver, under court file CV-18-604993-00CL. Firm Capital, the lender, is owed $20,138,459.97, which continues to accrue interest, costs and professional fees. Aluma Systems Inc., a lien claimant, served a statement of claim on August 17, 2018. The matter remains active.
Proceedings AIAsk this case — answers cite the filings
Case updates23 dated entries
20 earlier updates, back to 12 September 2018 — subscribers.
Parties
Debtor
Fortress Brookdale Inc.
Receiver
TDB Restructuring
Bench and counselPer the orders and service lists on the record
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice McEwan | Ontario Superior Court of Justice | 2 orders, Feb 2019 | 13 cases on record |
| Justice McEwen | Ontario Superior Court of Justice | 2 orders, Jan 2019 | 134 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ApplicantFirm Capital Mortgage Fund Inc | Thornton Grout Finnigan LLP | 12 Sep 2018 | Application · 12 Sep 2018 |
| CreditorFaan Mortgage Administrators Inc., as Administrators for the Buildin | Osler, Hoskin & Harcourt LLP | 15 Oct 2018 | Application · 15 Oct 2018 |
| CreditorFirm Capital Mortgage Fund Inc | Thornton Grout Finnigan LLP | 17 Oct 2018 | Factum · 17 Oct 2018 |
| CreditorInnocon, a Partnership of Lafarge Canada Inc, Leigh Hanson Materials Limited | Glaholt LLP | 12 Feb 2018 | Application · 12 Feb 2018 |
| CreditorLien Claimant Dircam Electric | Beard Winter LLP | 12 Oct 2018 | Application · 12 Oct 2018 |
Capital structureAs asserted in the filings
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Firm Capital Mortgage Fund Inc. (the Lender) · in 10 casesFirst Mortgage over the Property (1678-1704 Avenue Road, 375-377 Fairlawn Avenue and 412-416 Brookdale Avenue, Toronto); breakdown: Principal balance $18,211,721.00, Accrued Interest $1,253,015.55, Automatic Renewal Fee $36,432.44, s.17 Mortgages Act interest $546,351.63, Default admin fee $1,500.00, Review admin fee $500.00, Notice of sale fee $750.00, Statement fees $450.00, Construction monitor fees paid (Finnegan Marshall) $87,739.35 — Amount will continue to accrue interest, costs and professional fees; Lender also owed continuing professional fees not yet quantified — debtor: Fortress Br · as of 14 Sep 2018 | $20.1M | Report of the Receiver dated October 2, 2018 |
This 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 processAs stated in the filings
Sale approved — Vesting order approving sale to Empire (Water Wave) Inc.Vesting Order – Property, dated October 18, 2018 · 18 Oct 2018
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Empire (Water Wave) Inc.the right, title and interest in and to the assets described in the Sale Agreement · real property · nominee/assignee: permitted assignee · agreement 23 Aug 2018 | not stated | Approved18 Oct 2018 | Vesting Order – Property, dated October 18, 2018 |
Closing termsVesting occurs upon delivery of the Receiver's Certificate confirming payment of purchase price, satisfaction/waiver of closing conditions, and completion of the transaction.Vesting Order – Property, dated October 18, 2018
Sealed materialsconfidential appendices 1, 4, and 5 to the Report; confidential appendices 2 and 3 to the Report (appraisals)Vesting Order – Property, dated October 18, 2018
RecoveriesAs stated in the filings
Secured creditors: shortfall.Written Submissions of Firm Capital Mortgage Fund Inc. · 14 Dec 2018
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | subsequent mortgagees | — | shortfall | — | Written Submissions of Firm Capital Mortgage Fund Inc. · 14 Dec 2018 |
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.
Documents
23 filings
| Date | Document | File |
|---|---|---|
Endorsement of Justice McEwan (extension of holdback) dated Feb 13, 2019
| PDF · Subscribers | |
Endorsement of Justice McEwan dated Feb 13, 2019
| PDF · Subscribers | |
Endorsement of Justice McEwen dated January 30, 2019
| PDF · Subscribers | |
Endorsement of Justice McEwen dated January 4, 2019
| PDF · Subscribers | |
| Book of Authorities of Dircam Electric Limited dated December 14, 2018 | PDF · Subscribers | |
| Book of Authorities of FAAN Mortgage Administrators dated December 14, 2018 | PDF · Subscribers | |
| Factum of Computershare Trust Company dated December 14, 2018 | PDF · Subscribers | |
Factum of Dircam Electric Limited dated December 14, 2018
| PDF · Subscribers | |
| Supplementary Responding Application Record of Dircam Electric Limited dated December 14, 2018 | PDF · Subscribers | |
| Written Submissions of FAAN Mortgage Administrators dated December 14, 2018 | PDF · Subscribers | |
Written Submissions of Firm Capital Mortgage Fund Inc. dated December 14, 2018
| PDF · Subscribers | |
Vesting Order – Property, dated October 18, 2018
| PDF · Subscribers | |
| Book of Authorities of the Applicant, Firm Capital Mortgage Fund Inc., dated October 17, 2018 | PDF · Subscribers | |
| Book of Authorities of the Respondent, Innocon, dated October 17, 2018 | PDF · Subscribers | |
Factum of the Applicant, Firm Capital Mortgage Fund Inc., dated October 17, 2018
| PDF · Subscribers | |
Receiver’s Supplemental Report dated October 17, 2018
| PDF · Subscribers | |
Responding Application Record of Gilbert Steel Limited dated October 15, 2018
| PDF · Subscribers | |
| Responding Application Record of Innocon, a partnership of Lafarge Canada Inc., Lehigh Hanson Materials Limited and Innocon Inc. dated October 15, 2018 | PDF · Subscribers | |
Responding Application Record of Dircam Electric Limited dated October 12, 2018
| PDF · Subscribers | |
Report of the Receiver dated October 2, 2018
| PDF · Subscribers | |
Application Record of Firm Capital Mortgage Fund Inc. dated September 21, 2018
| PDF · Subscribers | |
Notice of Application of Firm Capital Mortgage Fund Inc. dated September 12, 2018
| PDF · Subscribers | |
Joint Case Conference Brief of the Lien Claimants dated February 12, 2018
| 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., “Fortress Brookdale Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 21 September 2026, https://proceedings.ca/case/fortress-brookdale-inc