PerfectKo Limited Partnership and PerfectKo GP Inc.
Follow- Proceeding
- Interim receivershipSection 47(1) and 243(1) of the Bankruptcy and Insolvency Act and Section 101 of the Courts of Justice Act
- File
- CV-25-00753625-00CL
PerfectKo Limited Partnership and PerfectKo GP Inc. have been placed under the interim receivership of KSV Restructuring Inc. by order of the Ontario Superior Court of Justice (Commercial List) dated December 24, 2025, on the application of secured lender 770 Corp. under sections 47(1) and 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. 770 Corp. holds a General Security Agreement dated July 11, 2024 over all present and after-acquired personal property of each debtor, securing a non-revolving term loan facility of $12,500,000, together with an unlimited guarantee of the same date from PerfectKo GP Inc., the partnership's sole general partner. Demand letters and section 244(1) notices of intention to enforce security were delivered on December 19, 2025, demanding $12,666,844.03 in principal and interest as at December 16, 2025 plus accruing interest and costs. The partnership's CFO had set out arrears on December 5, 2025 including $600,000 to vendors, $477,000 in construction and HVAC bills, $300,000 in legal fees, $115,000 in rent and utilities and $50,000 in vacation pay, alongside CRA GST/HST of $275,708.49 and payroll remittances of $15,103.59. The proceeding is active under court file CV-25-00753625-00CL.
Factum of GMBR Capital Corp. and 4515770 Nova Scotia Company dated June 16, 2026 — Factum / brief
The officer filed report no. Third Report. Olive Branch has continued to operate normally under the Interim Receiver's supervision while a court-supervised sale process (SISP) concluded with an agreement to sell substantially all of the debtors' assets to a purchaser, expected to repay the secured creditor's debt in full.
Source: Third Report of the Interim Receiver dated June 9, 2026
Motion Record of the Interim Receiver dated June 9, 2026 — Application / notice of application
Responding Motion Record of the Respondents dated March 4, 2026 — Response / objection pleading
Supplementary Responding Motion Record of the Respondents dated March 4, 2026 — Response / objection pleading
Motion Record of the Interim Receiver dated February 26, 2026 — Application / notice of application
Second Report to Court of the Interim Receiver dated February 26, 2026 — Court officer report
Responding Motion Record of the Respondents dated February 13, 2026 — Response / objection pleading
Court appointed KSV Restructuring Inc. interim receiver of both debtors on 770 Corp.'s application, five days after demand and section 244(1) notices were delivered.
Responding Application Record of the Respondents dated December 23, 2025 — Application / notice of application
Undated filings1 — no date appears on the document · show
Debtor
PerfectKo Limited Partnership and PerfectKo GP Inc.
Interim receiver
AlixPartners
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Black | Ontario Superior Court of Justice | 5 orders, Feb 2026 – Jun 2026 | 176 cases on record |
| Justice Cavanagh | Ontario Superior Court of Justice | 2 orders, Dec 2025 | 288 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Interim receiverAlixPartners | Bennett Jones LLP | 16 Mar 2026 | Service list · 16 Mar 2026 |
| Applicant | Chaitons LLP | 16 Mar 2026 | Service list · 16 Mar 2026 |
| DebtorPerfectKo Limited Partnership and PerfectKo GP Inc. | Gardiner Roberts LLP | 13 Feb 2026 | Factum · 13 Feb 2026 |
| Creditor770 Corp | Chaitons LLP | 14 Feb 2026 | Factum · 14 Feb 2026 |
| Creditorcertain Unit Holders of PerfectKo Limited Partnership | Dickinson Wright LLP | 16 Mar 2026 | Service list · 16 Mar 2026 |
| CreditorGMBR Capital Corp | Dickinson Wright LLP | 4 Mar 2026 | Factum · 4 Mar 2026 |
| CreditorGMBR Capital Corp.and 4515770 Nova Scotia Company | Dickinson Wright LLP | 16 Jun 2026 | Factum · 16 Jun 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | 770 Corp.General Security Agreement dated July 11, 2024 over all present and after-acquired personal property; PPSA financing statements registered against each Debtor; non-revolving term loan facility of $12,500,000 (original principal advanced) — Demand letters dated December 19, 2025 demanded $12,666,844.03 for principal and interest as of December 16, 2025, plus accruing interest and costs; BIA s.244(1) Notices of Intention to Enforce Security delivered same date. Also secured by unlimited liability guarantee from PerfectKo GP Inc. (related party - sole general partner of the Borrower, guarantee da · as of 16 Dec 2025 | $12.7M | Application Record dated December 22, 2025 |
| 4 | Secured | 770 Corp. (as against PerfectKo GP Inc., Guarantor)as of NOI filing date — Unlimited liability guarantee dated July 11, 2024 of the Borrower's Secured Obligations under the GSA — Guarantor is the sole general partner of the Borrower; guarantee obligations are unlimited and secured by same GSA/Secured Obligations definition; demand and BIA Notice also delivered to this Debtor December 19, 2025. — debtor: PerfectKo GP Inc. | — | Application Record dated December 22, 2025 |
| 6 | Landlord preferred | Landlord (Promenade Limited Partnership) · in 12 casesOutstanding rent and utilities, approximate figure disclosed by CFO; potentially preferred landlord claim under BIA but not expressly labelled preferred in this document. — debtor: PerfectKo Limited Partnership · as of 5 Dec 2025 | $115K | Application Record dated December 22, 2025 |
| 8 | Unsecured | Vendors (trade payables, aggregate)Vendor payables described as needed to get 'within terms'; document names no individual creditors. — debtor: PerfectKo Limited Partnership · as of 5 Dec 2025 | $600K | Application Record dated December 22, 2025 |
| 8 | Unsecured | General contractor (construction/HVAC)Outstanding construction bills of $364,000 (over 365 days overdue) plus $113,000 for HVAC work; document states components, not summed by document itself but presented together as a combined line item ($364,000 + $113,000) in the source email - reported as stated. — debtor: PerfectKo Limited Partnership · as of 5 Dec 2025 | $477K | Application Record dated December 22, 2025 |
| 8 | Unsecured | Legal counsel (aggregate legal bills)Legal bills not yet pressed by counsel at time of email; document names no individual creditors. — debtor: PerfectKo Limited Partnership · as of 5 Dec 2025 | $300K | Application Record dated December 22, 2025 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesas of reporting periods ending July 31, August 31, September 30, and October 31, 2025 — GST/HST obligations; deemed trust class quasi-governmental claim. — debtor: PerfectKo Limited Partnership | $276K | Application Record dated December 22, 2025 |
| 8 | Unsecured | Lender (interest component) · in 2 casesas of end of December 2025 — Loan interest due at end of month; this is interest on the 770 Corp. secured loan, listed separately in the CFO's internal breakdown. — debtor: PerfectKo Limited Partnership | $155K | Application Record dated December 22, 2025 |
| 8 | Unsecured | Employees (vacation pay obligations) · in 185 casesUnpaid employee vacation pay; wage-related claim, may be preferred under BIA though not expressly labelled preferred in this document. — debtor: PerfectKo Limited Partnership · as of 5 Dec 2025 | $50K | Application Record dated December 22, 2025 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesas of reporting period ending November 30, 2025 — Unpaid payroll remittances; deemed trust class quasi-governmental claim. — debtor: PerfectKo Limited Partnership | $15.1K | Application Record dated December 22, 2025 |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
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 approved — the Transaction is hereby approvedApproval and Vesting Order dated June 17, 2026 · 17 Jun 2026
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 4798670 Nova Scotia Limitedthe Purchased Assets · asset sale · agreement 31 May 2026 | not stated | Approved | Third Report of the Interim Receiver dated June… |
| Date | Document | File |
|---|---|---|
Approval and Vesting Order dated June 17, 2026
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Distribution Order dated June 17, 2026
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Endorsement of Justice Black dated June 17, 2026
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Factum of GMBR Capital Corp. and 4515770 Nova Scotia Company dated June 16, 2026
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| Factum of the Receiver dated June 15, 2026 | ||
| Motion Record of the Interim Receiver dated June 9, 2026 | ||
Third Report of the Interim Receiver dated June 9, 2026
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| Responding Motion Record dated June 6, 2026 | ||
Service List as at March 16, 2026
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SISP Approval Order dated March 9, 2026
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SISP Process Letter dated March 9, 2026
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Endorsement of Justice Black dated March 5, 2026
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| Aide Memoire of the Applicant dated March 4, 2026 | ||
Factum of GMBR Capital Corp. dated March 4, 2026
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Factum of the Respondents dated March 4, 2026
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| Responding Motion Record of the Respondents dated March 4, 2026 | ||
| Supplementary Responding Motion Record of the Respondents dated March 4, 2026 | ||
| Factum of the Interim Receiver dated March 2, 2026 | ||
| Motion Record of the Interim Receiver dated February 26, 2026 | ||
Second Report to Court of the Interim Receiver dated February 26, 2026
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Endorsement of Justice Black dated February 17, 2026
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Factum of the Applicant - PerfectKo Limited Partnership and PerfectKo GP Inc. dated February 14, 2026
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Factum of the Respondents dated February 13, 2026
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| First Report of the Interim Receiver dated February 13, 2026 | ||
| Responding Motion Record of the Respondents dated February 13, 2026 | ||
| Motion Record of the Applicant dated February 12, 2026 | ||
Endorsement of Justice Cavanagh dated December 24, 2025
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Interim Receivership Order dated December 24, 2025
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| Non Disclosure Agreement | ||
| Responding Application Record of the Respondents dated December 23, 2025 | ||
| Responding Factum dated December 23, 2025 | ||
Application Record dated December 22, 2025
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| Teaser | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “PerfectKo Limited Partnership and PerfectKo GP Inc.” (Interim receivership), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/perfectko-limited-partnership-and-perfectko-gp-inc