The Marine Building, a commercial building owned by La Société Immobilière en Propriété Marine Ltée

La Société Immobilière en Propriété Marine Ltée, owner of the Marine Building, has been in interim receivership under section 47 of the BIA since April 16, 2026, and the proceeding remains active in Quebec. Equitable Bank, the senior secured lender, asserts more than $58 million as of April 15, 2026, secured by a first-ranking hypothec granted December 8, 2021 over the building together with an assignment of rents, insurance proceeds and certain movables, a $65,000,000 second hypothec granted November 27, 2025, and a $5,000,000 hypothec granted by related company 9044-0744 Québec Inc. over the Esplanade Property. Under a forbearance agreement the debtor had acknowledged indebtedness of not less than $45,800,000 as of July 31, 2024. Unaudited books at December 31, 2025 show assets of $22,259,000 against liabilities of $61,186,000, an equity deficit of $38,927,000, and municipal and school tax arrears of $1,222,000.