Virk Hospitality Corp.
- Proceeding
- Receivership (court-appointed)section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the "BIA") and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended (the "CJA")
- File
- CV-17-11818-00CL
Virk Hospitality Corp. was placed into receivership on July 23, 2018, when the Ontario Superior Court of Justice granted an application by the Ontario Securities Commission appointing Grant Thornton Limited receiver and manager under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act. The company was assigned into bankruptcy on May 25, 2020, at 16:24, with Grant Thornton Limited continuing as trustee under section 49 of the BIA. Its Statement of Affairs, as at May 22, 2020, reported total assets of $71,000.00 against total liabilities of $13,267,797.47, a deficiency of $13,196,797.47, with Silverfern Secured Mortgage Limited Partnership holding a secured claim of $11,606,586.00.
A claims procedure has been established — see the order for deadlines.
Certificate of Appointment.pdf was filed. Court file 31-2647265.
Source: Certificate of Appointment.pdf
Motion Record of the Receiver Returnable March 18, 2020.PDF — Application / notice of application
Order and Endorsement dated November 18, 2019 - Contracts Motion Settlement.PDF — Endorsement / reasons
Motion Record of the Receiver Returnable November 18, 2019.pdf — Application / notice of application
Motion Record - April 4, 2019 (Delivery of Information from Virk Purchaser).PDF — Application / notice of application
The court granted an approval and vesting order for the sale to 2656049 Ontario Inc. Closing terms, as extracted: Vesting effective upon delivery of Receiver's Certificate to the Purchaser. Sealed: Confidential Appendices to the Report.
Source: Approval and Vesting Order (Virk_Property) dated March 1, 2019.PDF
Responding Motion Record of the Receiver Returnable March 1, 2019 .pdf — Application / notice of application
Brief of Authorities of the Receiver for the Motion Returnable December 19, 2018.pdf — Application / notice of application
Amended Notice of Motion of the Receiver for the Motion Returnable December 19, 2018.pdf — Application / notice of application
Brief of Authorities of the Receiver, for the Motion Returnable November....pdf — Application / notice of application
Motion Record of Alternative Living Solutions Inc. and 2514367 Ontario Inc. Returnable October 3, 2018.pdf — Application / notice of application
Motion Record of the Receiver Returnable September 25, 2018.pdf — Application / notice of application
Motion Record of the Receiver Returnable September 20, 2018.pdf — Application / notice of application
The court approved a sale and investment solicitation process.
Source: Order Dated September 12, 2018 - Approval of Sale Process.pdf
Brief of Authorities of the Receiver, for the Motion Returnable September 12, 2018 (Approving Sale Process).PDF — Sale process approval order
Unofficial Transcribed Endorsement of Justice Penny dated September 12, ....pdf — Endorsement / reasons
Motion Record Returnable September 12, 2018 - Approval of Sale Process.pdf — Application / notice of application
Unofficial Transcribed Endorsement of Justice Penny dated September 25, ....pdf — Endorsement / reasons
The Ontario Superior Court of Justice granted the Ontario Securities Commission's application for a receivership order, appointing Grant Thornton Limited receiver and manager, on July 23, 2018.
Source: Order dated July 23, 2018 - Receivership of Virk Hospitality Corp..pdf
Undated filings2 — no date appears on the document · show
Debtor
Virk Hospitality Corp.
Receiver
Doane Grant Thornton
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Hainey | Ontario Superior Court of Justice | 11 orders, Jul 2018 – Apr 2020 | 211 cases on record |
| Justice Penny | Ontario Superior Court of Justice | 5 orders, Jul 2018 – Sep 2018 | 196 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverDoane Grant Thornton | Chaitons LLP | 12 Sep 2018 | Order · 1 Mar 2019 |
| CreditorPartner | Chaitons LLP | 25 Sep 2018 | Application · 24 Sep 2018 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Silverfern Secured Mortgage Limited PartnershipCash on Hand - Chequing (security value estimated at $71,000.00, surplus $11,535,586.00) — Balance of claim after security value applied: $11,535,586.00 (also listed as unsecured claim in List A) — debtor: Virk Hospitality Corp. · as of 22 May 2020 | $11.6M | Statement of Affairs.pdf |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured |
61 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans2 transactions · 1 approved · 1 closed — The sale of the Virk Property closed on March 12, 2019.Seventh Report of the Receiver dated November 8, 2019.pdf · 8 Nov 2019
| Purchaser | Price | Status | Source |
|---|---|---|---|
| 2656049 Ontario Inc.the assets described in the Sale Agreement (the "Purchased Assets") · real property | not stated | Approved1 Mar 2019 | Approval and Vesting Order (Virk_Property)… |
| unnamedthe Virk Property | not stated | Closed12 Mar 2019 | Eighth Report of the Receiver dated February… |
As at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Notice of Bankruptcy and First Meeting of Creditors.pdf
| PDF · Subscribers | |
Certificate of Appointment.pdf
| PDF · Subscribers | |
Statement of Affairs.pdf
| PDF · Subscribers | |
Endorsement of Justice Hainey - Apr 23 2020.pdf
| PDF · Subscribers | |
Order - April 23 2020 (Authority to Bankrupt).pdf
| PDF · Subscribers | |
Order - April 23, 2020 (Authority to Bankrupt).pdf
| PDF · Subscribers | |
| Motion Record of the Receiver Returnable March 18, 2020.PDF | PDF · Subscribers | |
Eighth Report of the Receiver dated February 26, 2020.pdf
| PDF · Subscribers | |
Order and Endorsement dated November 18, 2019 - Contracts Motion Settlement.PDF
| PDF · Subscribers | |
| Motion Record of the Receiver Returnable November 18, 2019.pdf | PDF · Subscribers | |
Seventh Report of the Receiver dated November 8, 2019.pdf
| PDF · Subscribers | |
| Endorsement of Justice Hainey dated June 18, 2019.pdf | PDF · Subscribers | |
| Service List as at April 18, 2019 - Virk | PDF · Subscribers | |
| Motion Record - April 4, 2019 (Delivery of Information from Virk Purchaser).PDF | PDF · Subscribers | |
| Sixth Report of the Receiver dated March 29, 2019.pdf | PDF · Subscribers | |
Approval and Vesting Order (Virk_Property) dated March 1, 2019.PDF
| PDF · Subscribers | |
Endorsement of Justice Hainey dated March 1, 2019.PDF
| PDF · Subscribers | |
Order dated March 1, 2019 (Fee Approval).PDF
| PDF · Subscribers | |
| Endorsement of Justice Hainey dated February 27, 2019.pdf | PDF · Subscribers | |
| Responding Motion Record of the Receiver Returnable March 1, 2019 .pdf | PDF · Subscribers | |
| Fifth Report of the Receiver dated February 15, 2019.pdf | Trustee site | |
| Motion Record Returnable March 1, 2019.PDF | PDF · Subscribers | |
| Brief of Authorities of the Receiver for the Motion Returnable December 19, 2018.pdf | PDF · Subscribers | |
Amended Notice of Motion of the Receiver for the Motion Returnable December 19, 2018.pdf
| PDF · Subscribers | |
Amended Factum of the Receiver for the Motion Returnable December 19, 2018.pdf
| PDF · Subscribers | |
Endorsement of Justice Hainey dated November 30, 2018.pdf
| PDF · Subscribers | |
| Motion Record Returnable November 30, 2018.pdf | PDF · Subscribers | |
Order Dated November 30, 2018 - Fee Approval.pdf
| PDF · Subscribers | |
| Brief of Authorities of the Receiver for the Motion Returnable November 28, 2018.pdf | PDF · Subscribers | |
| Brief of Authorities of the Receiver, for the Motion Returnable November....pdf | PDF · Subscribers | |
Factum of the Receiver, for the Motion Returnable November 28, 2018.pdf
| PDF · Subscribers | |
| Fourth Report of the Receiver dated November 15, 2018.pdf | PDF · Subscribers | |
Endorsement of Justice McEwen dated October 10, 2018.pdf
| PDF · Subscribers | |
| Motion Record of Alternative Living Solutions Inc. and 2514367 Ontario Inc. Returnable October 3, 2018.pdf | PDF · Subscribers | |
| Affidavit of Saneea Tanvir dated October 2, 2018.pdf | PDF · Subscribers | |
Factum of the Receiver, for the Motion Returnable October 3, 2018.pdf
| PDF · Subscribers | |
| Affidavit of Saneea Tanvir for the Motion Returnable dated September 25, 2018.pdf | PDF · Subscribers | |
Endorsement of Justice Penny dated September 25, 2018.pdf
| PDF · Subscribers | |
Order Dated September 25, 2018.pdf
| PDF · Subscribers | |
Motion Record of the Receiver Returnable September 25, 2018.pdf
| PDF · Subscribers | |
| Third Report of the Receiver dated September 24, 2018.pdf | PDF · Subscribers | |
Endorsement of Justice Wilton Siegel dated September 20, 2018.pdf
| PDF · Subscribers | |
| Motion Record of the Receiver Returnable September 20, 2018.pdf | PDF · Subscribers | |
| Order Dated September 20, 2018.pdf | PDF · Subscribers | |
| Second Report of the Receiver dated September 17, 2018.pdf | PDF · Subscribers | |
| Brief of Authorities of the Receiver, for the Motion Returnable September 12, 2018 (Approving Sale Process).PDF | PDF · Subscribers | |
Endorsement of Justice Penny dated September 12, 2018.pdf
| PDF · Subscribers | |
Order Dated September 12, 2018 - Approval of Sale Process.pdf
| PDF · Subscribers | |
Unofficial Transcribed Endorsement of Justice Penny dated September 12, ....pdf
| PDF · Subscribers | |
Factum of the Receiver, for the Motion Returnable September 12, 2018 (Approving Sale Process).PDF
| PDF · Subscribers | |
First Report of the Receiver dated September 6, 2018.pdf
| PDF · Subscribers | |
| Motion Record Returnable September 12, 2018 - Approval of Sale Process.pdf | PDF · Subscribers | |
| Notices of Application and Notices of Motion.pdf | PDF · Subscribers | |
Unofficial Transcribed Endorsement of Justice Penny dated September 25, ....pdf
| PDF · Subscribers | |
Endorsement of Justice Hainey dated July 23, 2018.pdf
| PDF · Subscribers | |
Order dated July 23, 2018 - Receivership of Virk Hospitality Corp..pdf
| PDF · Subscribers | |
| Trustee' Preliminary Report.pdf | PDF · Subscribers | |
| Proof of Claim.pdf | PDF · Subscribers | |
| Proxy .pdf | 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., “Virk Hospitality Corp.” (Receivership (court-appointed)), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/virk-hospitality-corp