Proceedings.

Club Sommet Suites

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Active
Proceeding
CCAACOMPANIES' CREDITORS ARRANGEMENT ACT, R.S.C. (1985), ch. C-36, as amended
Court
Superior Court of Québec
File
500-11-046281-149
Filings held39
Last activity21 Dec 2015
On the record4,567 days
Secured debtSubscribers
OverviewSummary updated

Club Sommet Suites Inc. is subject to proceedings under the Companies' Creditors Arrangement Act in the Superior Court of Québec (court file 500-11-046281-149), on the application of Casperdiny IFB Realty Inc. and Les Appartements Club Sommet Inc., with Richter Advisory Group Inc. as monitor. A notice of intention under subsection 50.4(1) of the Bankruptcy and Insolvency Act was filed on 3 March 2014, and an initial order followed on 21 March 2014. The statement of affairs lists secured claims of $26,664,959.00 owed to Casperdiny IFB Capital Inc. and $283,255.78 to the Syndicate of Le Parc Co-ownership, alongside numerous unsecured claims including $15,442.33 to Hydro Quebec and $13,570.78 to Videotron. The proceeding remains active.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Instruction Letter for the Claims Process – dated September 29, 2014 dated 29 September 2014.

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Case updates39 dated entries

36 earlier updates, back to 21 March 2014 — subscribers.

Parties

Debtor

Club Sommet Suites

Monitor

Richter

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice CastonguaySuperior Court of Québec7 orders, Mar 2014 – Nov 201424 cases on record

Counsel of record

PartyCounselFirst seenSource
CreditorWith a CopyFasken Martineau DuMoulin LLP28 Nov 2014Order · 28 Nov 2014
Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredCasperdiny IFB Capital Inc. · in 2 casesas of SOA Amount — Proof of claim not filed/not proved; amount as reported in Statement of Affairs. — debtor: Club Sommet Suites Inc.$26.7MList of Creditors – dated September 29, 2014

27 more claims across lower-ranking classes

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Sale processAs stated in the filings

2 transactions · 2 not completed — Approval and Vesting Order approving the Timbercreek transaction, with closing still pending as of this reportMonitor’s Report on the State of Petitioner’s Financial Affairs and… · 18 Aug 2014

Parties solicited

35

Monitor’s Report on the State of Petitioners’ Financial…

Qualified bids

3

Monitor’s Report on the State of Petitioners’ Financial…

PurchaserPriceStatusSource
Rakotta Holdings Inc.the Property · real propertySubscribersNot completedMonitor’s Report on the State of Petitioners’…
Timbercreek Senior Mortgage Investment CorporationCredit bidthe assets described in the Agreement (the "Transferred Assets") · real propertySubscribersNot completeddate not statedMonitor’s Report on the State of Petitioner’s…
AdvisorsCBRE Capital Markets - National Apartment Group (listing broker)Monitor’s Report on the State of Petitioners’ Financial Affairs, and in…
Closing termsVesting occurs upon issuance of a Monitor's Certificate confirming the Agreement executed, Consideration paid, and conditions satisfied or waivedApproval and vesting Order and seeking the Extension of the Initial…
RecoveriesAs stated in the filings

Unsecured creditors: a distribution.Under the plan · sanctionedReport of the Monitor for the Purpose of the Sanction of the Amended… · 26 Nov 2014

ClassCreditorClaimsRecoveryBasisSource
UnsecuredAffected Creditors—a distributionUnder the plansanctionedper the monitorReport of the Monitor for the Purpose of the Sanction of the Amended… · 26 Nov 2014

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.

4 stated figures across 1 outcome, each sourced

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Estate financialsReported figures — never derived

Cumulative disbursements

$1.05M

As at 17 Jul 2014Monitor’s Report on the State of Petitioners’ Financial Affairs, and in support of the Motion seeking lease to transfer and surrender substantially all of the Debtors’ Assets outside the Normal Course of Business and seeking extension of the Initial Order – dated July 17, 2014

2 more reported figures, as at 17 Jul 2014

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Documents
39 filings
DateDocumentFile
Certificate of Performance & Certificate of Occurrence of the Implementation Date – dated December 21, 2015PDF · Subscribers
Approval and Sanction Order – dated November 28, 2014
  • Presiding officer Justice Martin Castonguay
PDF · Subscribers
Order granting the Motion seeking the extension of the Initial Order until November 28, 2014 and approving Claims Process – dated September 26, 2014
  • Counsel Fasken Martineau DuMoulin LLP
  • Presiding officer Justice Martin Castonguay
PDF · Subscribers
Motion seeking (i) the Approval of a Plan of Arrangement & (ii) the Extension of Stay of Proceedings – dated November 27, 2014
  • Recovery outcome Entries: per estimated · Table missing:
PDF · Subscribers
Report of the Monitor for the Purpose of the Sanction of the Amended Consolidated Plan of Arrangement – dated November 26, 2014
  • Recovery outcome Entries: per plan; per unstated; per plan; per estimated · Stated on: 2014-11-26 · Table missing:
PDF · Subscribers
Amended Consolidated Plan of Arrangement – dated November 20, 2014PDF · Subscribers
Consolidated Plan of Arrrangement – dated November 7, 2014PDF · Subscribers
Notice to the Creditors of the Meeting of Creditors and the Sanction Hearing – dated November 7, 2014
PDF · Subscribers
Report of the Monitor on the Sate of Petitioners’ Financial Affairs and the Plan of Arrangement – dated November 7, 2014
  • Recovery outcome Entries: per plan · Stated on: 2014-11-07 · Table missing:
PDF · Subscribers
Service List – dated November 7, 2014PDF · Subscribers
Notice to Creditors of the Deadline to file Proofs of Claim – dated October 3, 2014
PDF · Subscribers
Proof of Claim – dated October 3, 2014PDF · Subscribers
Proxy and Voting Form – dated October 3, 2014
PDF · Subscribers
Instruction Letter for the Claims Process – dated September 29, 2014PDF · Subscribers
List of Creditors – dated September 29, 2014
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Monitor’s Report on the State of Petitioner’s Financial Affairs and seeking extension of the Initial Order until September 26, 2014 – dated August 18, 2014
  • Closing confirmed Did not complete · date not stated · Timbercreek
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 7 more extracted facts
PDF · Subscribers
Order granting the Motion seeking the extension of the Initial Order, until September 26, 2014 – dated August 19, 2014
  • Presiding officer Justice Martin Castonguay
PDF · Subscribers
Motion seeking (i) the Extension of the Initial Order and (ii) Orders establishing an Procedure for the Identification, Filing, Resolution and Barring of Claims against the Debtors and setting the Procedures with Respect to the Calling and Conduct of a Meeting of the Creditors – dated September 25, 2014PDF · Subscribers
Report of the Monitor on the State of Petitioners’ Financial Affairs and the Plan of Arrangement – dated September 25, 2014
  • Recovery outcome Entries: per plan · Stated on: 2014-09-25 · Table missing:
PDF · Subscribers
Approval and vesting Order and seeking the Extension of the Initial Order, until August 19, 2014 – dated July 18, 2014
  • Closing terms Vesting occurs upon issuance of a Monitor's Certificate confirming the Agreement executed, Consideration paid, and conditions satisfied or waived
  • Order date 18 July 2014
  • Purchaser Timbercreek Senior Mortgage Investment Corporation · the assets described in the Agreement (the "Transferred Assets") · asset sale · approved
  • Sale outcome Sale approved — Transaction approved by the Court
  • + 1 more extracted fact
PDF · Subscribers
Motion seeking the extension of the Initial Order – dated August 18, 2014PDF · Subscribers
Order granting the Motion seeking the extension of the Initial Order, until July 18, 2014 – dated July 3, 2014
  • Presiding officer Justice Martin Castonguay
PDF · Subscribers
Monitor’s Report on the State of Petitioners’ Financial Affairs, and in support of the Motion seeking lease to transfer and surrender substantially all of the Debtors’ Assets outside the Normal Course of Business and seeking extension of the Initial Order – dated July 17, 2014
  • Operational summary The Debtors have continued to operate the Property (a 291-unit Montreal apartment building) in the normal course, collecting rents and pursuing lease-up, but the property management agreement with Asta was terminated effective July 18, 2014 as the Property is being transferred and surrendered to Timbercreek.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 8 more extracted facts
PDF · Subscribers
Motion seeking Leave to transfer and surrender substantially all of the Debtors’ Assets outside the Normal Course of Business and seeking the Extension of the Initial Order – dated July 17, 2014PDF · Subscribers
Order granting the Motion seeking the extension of the Initial Order, until July 3, 2014 – dated May 29, 2014
  • Presiding officer Justice Martin Castonguay
PDF · Subscribers
Motion seeking the extension of the Initial Order – dated July 2, 2014PDF · Subscribers
Order granting the Motion seeking the extension of the Initial Order, until May 29, 2014 – dated April 15, 2014
  • Presiding officer Justice Martin Castonguay
PDF · Subscribers
Motion seeking the extension of the Initial Order – dated May 28, 2014PDF · Subscribers
Second Report of the Monitor on the State of the Petitioner’s Financial Affairs – dated May 28, 2014
  • Operational summary The Petitioners continue to operate the Club Sommet apartment property in the normal course, pursuing a lease-up program to improve occupancy (around 60%) while working toward completion of a sale transaction by August 1, 2014.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
First report of the Monitor on the state of the Petitioner’s financial affairs – dated April 11, 2014
  • Operational summary The Petitioners continue to operate the apartment building in the normal course, collecting rents and pursuing a Lease-Up Program to increase occupancy (currently 60%), while working with CBRE on a solicitation process to sell or refinance the Property.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Motion seeking the extension of the Initial Order – dated April 11, 2014PDF · Subscribers
Debtor Company Information Summary – dated March 27, 2014PDF · Subscribers
Notice to creditors of Initial Order – dated March 27, 2014
PDF · Subscribers
Information Pertaining to Initial Order – dated March 24, 2014PDF · Subscribers
Initial Order – dated March 21, 2014
  • Applicant Les Appartements Club Sommet Inc.
  • Appointee Richter Advisory Group Inc.
  • Appointee role monitor
  • Commencement date 21 March 2014
  • + 6 more extracted facts
PDF · Subscribers
Petition seeking the issuance of an initial order pursuant to the Companies’ Creditors Arrangement Act – dated March 12, 2014
  • Applicant Casperdiny IFB Realty Inc. and Les Appartements Club Sommet Inc.
  • Appointee Richter Advisory Group Inc.
  • Appointee role Proposed Monitor
  • Court SUPERIOR COURT
  • + 3 more extracted facts
PDF · Subscribers
Report of Richter Advisory Group Inc. in its Capacity as Proposed Monitor, submitted in conjunction with the CCAA Petition filed on March 12, 2014 under the provisions of the Companies’ Creditors Arrangement Act – dated March 18, 2014PDF · Subscribers
Notice to Creditors of Intention to Make a Proposal – dated March 10, 2014
PDF · Subscribers
Certificate of filing of a Notice of intention to make a proposal – dated March 3, 2014
  • Appointee RICHTER ADVISORY GROUP INC / RICHTER GROUPE CONSEIL INC
  • Appointee role Trustee
  • Commencement date 3 March 2014
  • Court file no 500-11-046281-149
  • + 1 more extracted fact
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., “Club Sommet Suites” (CCAA), Superior Court of Québec. Retrieved 20 September 2026, https://proceedings.ca/case/les-appartements-club-sommet-inc

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Sources last checked · summary updated 24 August 2026 · Report a correction · Printed from proceedings.ca/case/les-appartements-club-sommet-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.