Gibson Lofts Ltd.

Gibson Lofts Ltd. has been in court-appointed receivership since January 17, 2025, under section 243 of the Bankruptcy and Insolvency Act and provincial Judicature Act authority, in Ontario Superior Court of Justice file CV-23-00083478-0000. The Receiver reports entity-level assets of $11,850,000 on a net book value basis drawn from 2022 financial statements, the most current information provided to it, comprising the Barton Street Property, the Gibson Street Property and other assets. Secured claims reported by class total $12,135,087.24, the largest being Sigma One Capital Inc. at $4,717,171.45, Restoration Funding Corporation at $4,260,000 and Sigma Properties Canada Inc. at $1,799,537.79; the two Sigma lenders have held security on both properties since August 2016 and allege the December 2022 transfer of the Gibson Street Property occurred without their knowledge or consent. Unsecured claims total $138,798.08 plus amounts recorded as unknown for Alectra Utilities and Bell. The proceeding remains active.