Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp.
- Proceeding
- Receivership (court-appointed)Section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended
- Court
- Ontario Superior Court of Justice · Commercial List
- File
- CL-26-00000276-0000
- Industry
- Real estate · Residential development
Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp. have been under court-appointed receivership in Ontario since June 23, 2026, when the Ontario Superior Court of Justice (Commercial List) appointed AlixPartners Restructuring, Inc. as Receiver and Manager on the application of United Overseas Bank Limited, under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The Receiver has taken possession of the debtors' assets and cash, arranged insurance, negotiated a listing agreement and developed a sale process and pricing schedule for the unsold units of the project, while dealing with construction lien claimants. Following a July 17 endorsement, the Receiver filed a supplement to its First Report on July 24, 2026 revising the proposed sale approval materials. The proceeding is active under court file CL-26-00000276-0000.
Claims must be filed by
Per the Schedule B - Instruction Letter Priority Claims Procedure dated 1 October 2026.
Order put a claims procedure in place, with November 5, 2026 fixed as the date by which claims must be filed.
Source: Schedule B - Instruction Letter Priority Claims Procedure
Court approved a claims procedure, fixing November 5, 2026 as the claims bar date.
Source: Priority Claims Procedure Order dated October 1, 2026
Application Response of KingSett to the Monitor's Application dated October 1, 2026 — Application / notice of application
First Supplement to the Second Report advised that no broker had filed responding materials to the motion for repayment of unearned commissions, and maintained the recommendation that the Commission Repayment Order be granted.
Source: First Supplement to the Second Report dated September 30, 2026
Reported four negotiated sales, one closed, pursuit of unearned broker commissions and a priority claims procedure ahead of distribution to the lenders; sought approval of $384,145.25 in Receiver's fees and $251,619 for McCarthy Tétrault.
Source: Second Report of the Receiver dated September 22, 2026
Court granted the amendment to the sale approval order sought in the August 28 supplement, correcting the pricing schedule for the new HST rebate without altering actual sale proceeds.
Source: Court Order re Amendment to Sale Approval Order dated September 3, 2026
Third Supplement to the Receiver's First Report: construction of the Manderley condominium is substantially complete, sales of the remaining units continue under the approved process, and an amendment to the sale approval order is sought to fix a technical issue.
Source: Third Supplement to the First Report dated August 28, 2026
Motion Record of the Receive re Amending Order dated August 28, 2026 — Application / notice of application
The court approved a sale process for the unsold units, parking spots and lockers, individually or en bloc, with Milborne Real Estate Inc. as listing broker.
Receiver reported no objections to the revised sale approval materials and template individual agreement of purchase and sale, flagged the August 5 case conference, and made minor revisions reflecting CRA's July 30, 2026 guidelines on the Ontario Enhanced New Housing Rebate.
Source: Manderley - Second Supplement to the First Report - final
Supplement revised the sale approval order, approval and vesting order, sale process and pricing schedule per the July 17 endorsement, confining permitted transactions to individual unsold units and adding target price floors and minimum sale conditions.
Source: Supplement to the First Report of the Receiver dated July 24, 2026
First Report recorded the Receiver taking possession of assets and bank cash, placing insurance, negotiating the listing agreement, preparing the sale process and pricing schedule, and serving the section 246 notice.
Motion Record of the Receiver re Sale Approval dated July 8, 2026 — Application / notice of application
Court appointed AlixPartners Restructuring, Inc. Receiver and Manager on United Overseas Bank's application, granted a stay, and created a first-ranking Receiver's Charge plus a borrowings charge capped at $500,000.
Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp. — Receivership filed, Ontario.
Undated filings4 — no date appears on the document · show
Schedule A - Notice to Potential Priority Claimants — Claims process approved
Case update
The Manderley: brokers must repay $111,674.10 on sales that failed to close
Justice Conway on October 1 ordered three brokerages to repay $111,674.10 in commission advances on seven suites by October 16, holding them to agreements that require repayment if a sale fails to close "for any reason whatsoever," and authorized distributions to the lenders from the November 5 claims bar date, subject to reserves.
Case update
The Manderley: brokers asked to return commissions on failed sales
AlixPartners' Second Report asks the court on October 1 for a priority claims procedure with a November 5 bar date, authority to begin paying down roughly $30.6 million owed to the UOB lenders once reserves are set, and an order that three brokerages repay $111,674.10 in commission advances on seven suites whose sales never closed, a demand one of them disputes.
Case update
The Manderley: a sealed price list rewritten for Ontario's HST rebate
AlixPartners is selling 70 unsold suites at an 11-storey Toronto condominium under a template agreement Justice Myers required and target prices the court keeps sealed; on September 3 Justice Steele approved a third price schedule after Ontario's enhanced HST rebate, up to $130,000 a buyer on the receiver's figures, left agreement and prices built on different taxes, so that in the receiver's example a sale netting $500,000 fell below a $541,000 floor.
Debtor
Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp.
Applicant
United Overseas Bank Limited
Receiver
AlixPartners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Conway | Ontario Superior Court of Justice | 4 orders, Oct 2026 | 310 cases on record |
| Justice Myers | Ontario Superior Court of Justice | 3 orders, Jun 2026 – Aug 2026 | 117 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Sep 2026 | 245 cases on record |
| Justice Black | Ontario Superior Court of Justice | 2 orders, Aug 2026 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverAlixPartners | McCarthy Tétrault LLP | 14 Jul 2026 | Factum · 14 Jul 2026 |
| CreditorAviva Insurance Company Canada | Borden Ladner Gervais LLP | 19 Aug 2026 | Service list · 19 Aug 2026 |
| CreditorDSK Electric Inc | Gowling WLG (Canada) LLP | 14 Oct 2026 | Service list · 14 Oct 2026 |
| CreditorMatrex Window System Inc | Rar Litigation | 19 Aug 2026 | Service list · 19 Aug 2026 |
| CreditorMazzad Drywall Inc | Pallett Valo LLP | 14 Jul 2026 | Service list · 14 Jul 2026 |
| CreditorNekison Engineering & Contractors Limited | Soccol Law | 14 Jul 2026 | Service list · 14 Jul 2026 |
| CreditorUltimate Fire Protection Ltd | SimpsonWigle LAW LLP | 14 Jul 2026 | Service list · 14 Jul 2026 |
| CreditorWestview Paving Inc | Sutherland Law | 14 Jul 2026 | Service list · 14 Jul 2026 |
| CreditorWilkinson Manderley Inc | WeirFoulds LLP | 14 Jul 2026 | Service list · 14 Jul 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| Court-ordered charges | ||||
| 1 | Court-ordered charges | Receiver's Borrowings Charge — in priority to all security interests, trusts, liens (including construction liens registered as of the date of this Order), charges and encumbrances, statutory or otherwise, in favour of any Person, but subordinate in p | $500K | Receivership Order dated June 23, 2026 |
| 1 | Court-ordered charges | |||
| Pre-filing debt | ||||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
16 more claims in 3 classes The stack holds Court-ordered charges, Secured and Unsecured 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.
Liquidation in progress — Sale process for the Unsold Units approved and underway, with the Receiver providing an update on progress since the First Report.Second Report of the Receiver dated September 22, 2026 · 22 Sep 2026
Professional fees
$385K
As at 31 Aug 2026Second Report of the Receiver dated September 22, 2026
| Date | Document | File |
|---|---|---|
Service List as at October 14, 2026
| PDF · Subscribers | |
Application Response of KingSett to the Monitor's Application dated October 1, 2026
| PDF · Subscribers | |
Approval of Distribution Order dated October 1, 2026
| PDF · Subscribers | |
Endorsement of Justice Conway dated October 1, 2026
| PDF · Subscribers | |
Order dated October 1, 2026
| PDF · Subscribers | |
Priority Claims Procedure Order dated October 1, 2026
| PDF · Subscribers | |
Schedule B - Instruction Letter Priority Claims Procedure
| PDF · Subscribers | |
First Supplement to the Second Report dated September 30, 2026
| PDF · Subscribers | |
Brief of Reports dated September 29, 2026
| PDF · Subscribers | |
Factrum of the Receiver dated September 29, 2026
| PDF · Subscribers | |
Motion Record of the Receiver dated September 22, 2026
| PDF · Subscribers | |
Second Report of the Receiver dated September 22, 2026
| PDF · Subscribers | |
Service List as at September 21, 2026
| PDF · Subscribers | |
Court Order re Amendment to Sale Approval Order dated September 3, 2026
| PDF · Subscribers | |
Endorsement of Justice Steele dated September 3, 2026
| PDF · Subscribers | |
Aide Memoire of the Receiver re Amending Order dated September 2, 2026
| PDF · Subscribers | |
| Motion Record of the Receive re Amending Order dated August 28, 2026 | PDF · Subscribers | |
Third Supplement to the First Report dated August 28, 2026
| PDF · Subscribers | |
Service List as at August 19, 2026
| PDF · Subscribers | |
Endorsement of Justice Black dated August 5, 2026
| PDF · Subscribers | |
Sale Approval Order dated August 5, 2026
| PDF · Subscribers | |
Second Supplement to the First Report dated August 4, 2026
| PDF · Subscribers | |
Supplement to the First Report of the Receiver dated July 24, 2026
| PDF · Subscribers | |
Factum of the Receiver re Sale Approval dated July 14, 2026
| PDF · Subscribers | |
Service List as at July 14, 2026
| PDF · Subscribers | |
First Report of the Receiver dated July 8, 2026
| PDF · Subscribers | |
| Motion Record of the Receiver re Sale Approval dated July 8, 2026 | PDF · Subscribers | |
Endorsement of Justice Myers dated June 23, 2026
| PDF · Subscribers | |
Receivership Order dated June 23, 2026
| PDF · Subscribers | |
| Application Record dated June 16, 2026 | PDF · Subscribers | |
Notice of Application dated June 12, 2026
| PDF · Subscribers | |
| Schedule A - Notice to Potential Priority Claimants | PDF · Subscribers | |
| Schedule C - Proof of Priority Claim Form | PDF · Subscribers | |
| Schedule D - Notice of Disallowance of Claim | PDF · Subscribers | |
| Schedule E - Notice of Dispute | 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., “Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 5 November 2026, https://proceedings.ca/case/nova-ridge-manderley-limited-partnership-and-nova-ridge-manderley-gp-corp