Les Bien-Fonds Aate Westmount Inc./Aate Westmount Holdings Inc. and Encarnacion Obana
- Proceeding
- Receivership (court-appointed)Article 243 de la Loi sur la faillite et l'insolvabilité
- File
- 500-11-065153-252
- Industry
- Real estate · Rental & income property
Les Bien-Fonds Aate Westmount Inc./Aate Westmount Holdings Inc. and Encarnacion Obana have been under court-appointed receivership since February 3, 2025, when the Superior Court of Québec, on the application of Peakhill Capital inc. and Peakhill CW inc. under section 243 of the Bankruptcy and Insolvency Act, appointed KSV Restructuring inc. as receiver in file 500-11-065153-252. Peakhill's hypothecs secure approximate balances as at April 24, 2025 of $3.5 million on the Souvenir property, $1.9 million on Walkley and $1.2 million on Lacombe, while Peakhill CW is owed approximately $3.3 million on Boulevard and $1.3 million on Marcil. Revenu Québec and the Minister of National Revenue registered legal hypothecs on March 27, 2025 for $284,878 and $69,701 respectively, subordinate to Peakhill's security. Peakhill Capital also acts as DIP lender under a court-ordered charge of up to $300,000, ranking after the Administration Charge, with $42,000 advanced.
Application for the Termination of the Receivership Proceedings dated September 21, 2026 — Application / notice of application
Certificate of the Receiver re Marcil Property dated August 28, 2025 — Court officer certificate
The court granted an approval and vesting order for the sale to Gonul Bicici. Closing terms, as extracted: Vesting upon issuance of the Receiver's certificate confirming payment of the Purchase Price and satisfaction of closing conditions. Sealed: unredacted copy of the marketing report prepared by EXP, unredacted version of the Purchase Agreement.
Source: Approval and Vesting Order re Marcil dated August 5, 2025
Exhibits in support of the Application dated July 23, 2025 — Application / notice of application
The court granted an approval and vesting order for the sale to Mr. Pui-Yan Wong. Closing terms, as extracted: Vesting occurs upon issuance of the Receiver's Certificate. Sealed: marketing report prepared by EXP and the unredacted version of the Purchase Agreement.
Source: Approval and Vesting Order June 23, 2025 - Lacombe June 23, 2025
The court granted an approval and vesting order for the sale to Mr. Davide Zaffino. Sealed: marketing report prepared by Avison Young and unredacted version of the Purchase Agreement.
The court granted an approval and vesting order for the sale to Mr. Frederick Lanctot-Leroy. Closing terms, as extracted: vesting occurs upon issuance of Receiver's Certificate confirming payment of Purchase Price and satisfaction/waiver of closing conditions. Sealed: unredacted copy of Purchase Agreement, Avison Young marketing report.
Ordonnance de radiation dated June 23, 2025 - Lacombe was filed.
Source: Ordonnance de radiation dated June 23, 2025 - Lacombe
Ordonnance de radiation dated June 23, 2025 - Souvenir was filed.
Source: Ordonnance de radiation dated June 23, 2025 - Souvenir
Ordonnance de radiation dated June 23, 2025 - Walkley was filed.
Source: Ordonnance de radiation dated June 23, 2025 - Walkley
Superior Court of Québec appointed KSV Restructuring inc. as receiver over the debtors' property under BIA section 243, on the application of Peakhill Capital inc. and Peakhill CW inc.
PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 1 — Application / notice of application
PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 2 — Application / notice of application
PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 3 — Application / notice of application
PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 4 — Application / notice of application
PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 5 — Application / notice of application
PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 6 — Application / notice of application
PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 7 — Application / notice of application
Filing brief
Aate Westmount: a receiver's partial exit after four sales
Four Montreal rental properties sold, $6,183,473 paid to Peakhill Capital and principal still owing on every one of them — AlixPartners asks the Superior Court of Québec on September 28 to end the receivership for the sold buildings and release it, while a Westmount condominium unit carrying about $2.6 million of Peakhill principal stays in receivership.
Debtor
Les Bien-Fonds Aate Westmount Inc./Aate Westmount Holdings Inc. and Encarnacion Obana
Receiver
KSV
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Rogers | Superior Court of Québec | 8 orders, Jun 2025 – Aug 2025 | 16 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Osler, Hoskin & Harcourt LLP | 4 Jun 2026 | Order · 4 Jun 2026 |
| CreditorAlixpartners Advisory, Inc | Stikeman Elliott LLP | 3 Jun 2026 | Service list · 3 Jun 2026 |
| CreditorAlixpartners Restructuring, Inc | Osler, Hoskin & Harcourt LLP | 3 Jun 2026 | Service list · 3 Jun 2026 |
| CreditorPeakhill Capital Inc | Kaufman Lawyers LLP | 3 Jun 2026 | Service list · 3 Jun 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Revenu Québec (Ministre du Revenu du Québec) · in 41 casesLegal hypothec re Taxation Act debt — Subordinate to Peakhill's security; deemed trust/quasi-governmental claim; discharged and reattached to net sale proceeds per AVOs — debtor: Encarnacion Obana (Lacombe Property) · as of 27 Mar 2025 | $285K | Third Report of the Receiver dated September 21, 2026 |
| 3 | Deemed trusts (CRA and other) | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
14 more claims in 2 classes The stack holds Deemed trusts (CRA and other) and Secured claims.
Every creditor and every amount, drawn to scale.
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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.
9 transactions · 6 closed · 2 approved · 1 proposed — Four of the five properties have closed; the Boulevard Property sale process remains ongoing.Third Report of the Receiver dated September 21, 2026 · 21 Sep 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| Mr. Davide Zaffinothe immovable property described in Schedule "A" attached hereto (the "Purchased Assets") · real property · nominee/assignee: and or a nominee for a company to be formed · agreement 26 May 2025 | Sealed | Closed1 Apr 2026 | Third Report of the Receiver dated September… |
| Mr. Frederick Lanctot-Leroyles Actif achetés · real property · nominee/assignee: une personne désignée pour une société à être constituée · agreement 26 May 2025 | Sealed | Closed2 Feb 2026 | Third Report of the Receiver dated September… |
| Mr. Pui-Yan Wongthe immovable property described in Schedule "A" attached hereto (the "Purchased Assets") · real property · agreement 6 May 2025 | Subscribers | Closed3 Jul 2025 | Third Report of the Receiver dated September… |
| Gonul Bicicithe immovable property described in Schedule "A" attached hereto (the "Purchased Assets") · real property · agreement 2 Jul 2025 | Subscribers | Closed28 Aug 2025 | Third Report of the Receiver dated September… |
| purchaser of the Lacombe Propertythe Lacombe Property · real property | Subscribers | Closed30 Jun 2025 | Addendum to the First Report of the Receiver… |
| purchaser of the Souvenir Property, unnamedthe Souvenir Property · real property | Subscribers | Approved | Addendum to the First Report of the Receiver… |
| purchaser of the Walkley Property, unnamedthe Walkley Property · real property | Subscribers | Approved | Addendum to the First Report of the Receiver… |
| unnamedthe Marcil Property | not stated | Closed22 Aug 2025 | Addendum to the First Report of the Receiver… |
| purchaser of the Boulevard Property not yet identified; process ongoingthe Boulevard Property · real property | not stated | Proposed | Third Report of the Receiver dated September… |
Unsecured creditors: no distribution.EstimatedThird Report of the Receiver · 21 Sep 2026
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | other creditors of the Debtors | — | no distribution | Estimatedper the receiver | Third Report of the Receiver · 21 Sep 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.
| Date | Document | File |
|---|---|---|
Discharge and Termination Order for 4 Real Properties dated September 28, 2026
| PDF · Subscribers | |
| Minutes of the Hearing held on September 28, 2026 | Trustee site | |
Application for the Termination of the Receivership Proceedings dated September 21, 2026
| PDF · Subscribers | |
| Service List as at September 21, 2026 | PDF · Subscribers | |
Third Report of the Receiver dated September 21, 2026
| PDF · Subscribers | |
| Certificate - AlixPartners Restructuring Inc. - Québec | PDF · Subscribers | |
Substitution Order dated June 4, 2026
| PDF · Subscribers | |
Service List as at June 3, 2026
| PDF · Subscribers | |
Certificat du Séquestre Immeuble Souvenir (1er avril 2026)
| PDF · Subscribers | |
Certificate of the Receiver (Souvenir) dated April 1, 2026
| PDF · Subscribers | |
Certificate of the Receiver re Souvenir dated April 1, 2026
| PDF · Subscribers | |
Certificat du Séquestre Immeuble Walkley (Février 2, 2026)
| PDF · Subscribers | |
Certificat du Séquestre daté Février 2, 2026
| PDF · Subscribers | |
Certificate of the Receiver (Walkley) dated February 2, 2026
| PDF · Subscribers | |
Certificate of the Receiver re Walkley dated February 2, 2026
| PDF · Subscribers | |
Addendum to the First Report of the Receiver dated December 17, 2025
| PDF · Subscribers | |
| Certificate of the Receiver re Marcil Property dated August 28, 2025 | PDF · Subscribers | |
Approval and Vesting Order re Marcil dated August 5, 2025
| PDF · Subscribers | |
Marcil Ordonnance de radiation - 5 août 2025
| PDF · Subscribers | |
Second Report of the Receiver dated July 25, 2025
| PDF · Subscribers | |
Application Record dated July 23, 2025
| PDF · Subscribers | |
| Exhibits in support of the Application dated July 23, 2025 | PDF · Subscribers | |
Certificate of the Receiver (Lacombe) dated July 3, 2025
| PDF · Subscribers | |
| Notice to Appoint a New Attorney (E. Obana) dated June 27, 2025 | PDF · Subscribers | |
| Notice to Appoint a New Attorney dated June 27, 2025 | PDF · Subscribers | |
Approval and Vesting Order June 23, 2025 - Lacombe June 23, 2025
| PDF · Subscribers | |
Approval and Vesting Order June 23, 2025 - Souvenir
| PDF · Subscribers | |
Approval and Vesting Order June 23, 2025 - Walkley
| PDF · Subscribers | |
Ordonnance de radiation dated June 23, 2025 - Lacombe
| PDF · Subscribers | |
Ordonnance de radiation dated June 23, 2025 - Souvenir
| PDF · Subscribers | |
Ordonnance de radiation dated June 23, 2025 - Walkley
| PDF · Subscribers | |
| Application for the issuance of Approval and Vesting Orders, Discharges Orders and Ancillary Relief dated June 9, 2025 | PDF · Subscribers | |
First Report of the Receiver dated June 9, 2025
| PDF · Subscribers | |
| List of exhibits and exhibits dated June 9, 2025 | PDF · Subscribers | |
Ordonnance séquestre daté du 3 février 2025
| PDF · Subscribers | |
| PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 1 | PDF · Subscribers | |
| PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 2 | PDF · Subscribers | |
| PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 3 | PDF · Subscribers | |
PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 4
| PDF · Subscribers | |
| PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 5 | PDF · Subscribers | |
| PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 6 | PDF · Subscribers | |
| PRC-2025-01-14-Requête nomination séquestre Copie Cour - Application Record - Part 7 | 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., “Les Bien-Fonds Aate Westmount Inc./Aate Westmount Holdings Inc. and Encarnacion Obana” (Receivership (court-appointed)), Superior Court of Québec. Retrieved 4 November 2026, https://proceedings.ca/case/les-bien-fonds-aate-westmount-inc-aate-westmount-holdings-inc-and-encarnacion-ob