RHH Rental Properties Ltd. has been bankrupt under the BIA since June 18, 2025. Its Statement of Affairs, drawn from the company's unaudited books at book value or estimated realizable value, lists assets of $26,271,783 against liabilities of $96,397,525, comprising $2,039,637 in secured and $94,357,888 in unsecured claims. Proofs of claim filed to date total $62,202,937 — $2,821,814 secured and $59,381,123 unsecured — differing from the SOA totals. Thirteen parties hold PPSA registrations against the company, and the trustee has not confirmed the basis, consideration or enforceability of that security. Equiton Real Estate Development Fund Limited Partnership holds a $3 million judgment obtained and secured against the company and Mr. Reid as personal guarantor. The Canada Revenue Agency asserts a deemed trust super-priority of approximately $0.9 million for source deductions withheld but not remitted, subject to CRA audit verification.
The court granted an approval and vesting order for the sale to LaBelle Stratford Inc. Closing terms, as extracted: Purchased Shares vest in the Purchaser free and clear of Claims and Encumbrances upon delivery of the Trustee's Certificate confirming payment of the Purchase Price, satisfaction or waiver of Article 6 closing conditions, and completion of the Transaction. Sealed: Two confidential appendices disclosing the purchase consideration under the Share Purchase Agreement.
Of about $110 million RHH Rental Properties borrowed from retail investors, Justice Mitchell's count leaves about $15.2 million unaccounted for. He approved the sale of RHH's 25% stake in a Stratford apartment owner at a sealed price, and adjourned the trustee's request for a first-ranking fee charge of up to $1 million to May 26.
Parties
Debtor
RHH Rental Properties Ltd.
Trustee in bankruptcy
BDO
Trustee in bankruptcy
Deloitte
Bench and counselPer the orders and service lists on the record
CRA - Tax - Ontario · in 259 casesDeemed trust under the Income Tax Act for unremitted payroll deductions — Deemed trust claim (regulatory/quasi-governmental class) with priority over other interests. Report text states $147,964; Claims Register states $147,965. Claim not yet evaluated by Trustee. — debtor: RHH Rental Properties Ltd.
$148K
First Report of the Trustee
4
Secured
4
Secured
4
Secured
4
Secured
4
Secured
7
Preferred (BIA s. 136)
8
Unsecured
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7 more claims in 3 classes The stack holds Deemed trusts (CRA and other), Secured, Preferred (BIA s. 136) and Unsecured claims.
Sale approved — The Share Purchase Agreement and the Transaction are approved; vesting of the Purchased Shares in LaBelle Stratford Inc. is effective on delivery of the Trustee's Certificate.Order of Justice Mitchell · 22 May 2026
Purchaser
Price
Status
Source
LaBelle Stratford Inc.the Purchased Shares (shares of RHH Rental Properties Ltd. as described in the Share Purchase Agreement) · share sale · agreement 11 May 2026
Closing termsPurchased Shares vest in the Purchaser free and clear of Claims and Encumbrances upon delivery of the Trustee's Certificate confirming payment of the Purchase Price, satisfaction or waiver of Article 6 closing conditions, and completion of the Transaction.Order of Justice Mitchell
Sealed materialsTwo confidential appendices disclosing the purchase consideration under the Share Purchase AgreementOrder of Justice Mitchell
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.
Estate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
Closing termsPurchased Shares vest in the Purchaser free and clear of Claims and Encumbrances upon delivery of the Trustee's Certificate confirming payment of the Purchase Price, satisfaction or waiver of Article 6 closing conditions, and completion of the Transaction.
PurchaserLabelle Stratford Inc. · RHH's 25% ownership interest in LaBelle/RHP Stratford Inc. · share sale · proposed
Sale outcomeApproval pending — The Trustee seeks court approval of the Labelle Transaction, a share sale of RHH's 25% interest in LaBelle-RHP to Labelle Stratford Inc.; no sale process was run and the price is based on pre-bankruptcy appraisals.
Sources last checked · summary updated 7 August 2026 · Report a correction · Printed from proceedings.ca/case/rhh-rental-properties-ltd
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.