Westcan Cedar Grove Villages Inc.
- 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-25-00753627-0000
Westcan Cedar Grove Villages Inc. remains under court-appointed receivership in the Ontario Superior Court of Justice (Commercial List), file CL-25-00753627-0000, with KSV Restructuring Inc. acting as Receiver and Manager. The appointment was made on April 27, 2026 on the application of IMC Limited Partnership, by its general partner, Institutional Mortgage Capital Canada Inc., under section 243(1) of the Bankruptcy and Insolvency Act and section 101 of the Courts of Justice Act, and included a stay of proceedings. KSV has since taken over rent collection, tenant, utility and vendor matters and retained realtors and built a data room, reporting to the court on June 12, 2026. Cash on hand stands at CAD 538,000. A further interim order was granted on June 22, 2026.
First Report set out the Receiver's activities: opening a receivership account, sending statutory notices, engaging realtors, preparing a data room and a thirteen-week cash flow forecast, collecting rents, funding payroll, utilities and repairs, and holding a residents' townhall.
Appointed KSV Restructuring Inc. Receiver and Manager over the Property, granted a stay, and created a first-ranking Receiver's Charge for the Receiver and its counsel plus a $500,000 borrowing charge.
Debtor
Westcan Cedar Grove Villages Inc.
Applicant
IMC Limited Partnership
Receiver
KSV
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Kimmel | Ontario Superior Court of Justice | 2 orders, Jun 2026 | 198 cases on record |
| Justice Steele | Ontario Superior Court of Justice | 2 orders, Mar 2026 – Apr 2026 | 245 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| ReceiverKSV | Chaitons LLP | 12 Jan 2026 | Service list · 12 Jan 2026 |
| ApplicantIMC Limited Partnership | Garfinkle, Biderman LLP | 12 Jan 2026 | Service list · 12 Jan 2026 |
| DebtorWestcan Cedar Grove Villages Inc. | Polley Faith LLP | 12 Jan 2026 | Service list · 12 Jan 2026 |
| CreditorAlixPartners Restructuring, Inc | Chaitons LLP | 12 Jun 2026 | Factum · 12 Jun 2026 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| Court-ordered charges | ||||
| 1 | Court-ordered charges | Receiver's Borrowing Charge — in priority to all security interests, trusts, liens, charges and encumbrances, statutory or otherwise, in favour of any Person, but subordinate in priority to the Receiver's Charge and the charges as set out in sections | $500K | Receivership Appointment Order dated April 27, 2026 |
| 1 | Court-ordered charges | |||
| Pre-filing debt | ||||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
6 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.
Cash on hand
$538K
As at 12 Jun 2026First Report to Court dated June 12, 2026
| Date | Document | File |
|---|---|---|
Endorsement of Justice Kimmel dated June 22, 2026
| PDF · Subscribers | |
Order dated June 22, 2026
| PDF · Subscribers | |
Factum of the Receiver dated June 12, 2026
| PDF · Subscribers | |
First Report to Court dated June 12, 2026
| PDF · Subscribers | |
| Motion Record of the Receiver dated June 12, 2026 | PDF · Subscribers | |
Receivership Appointment Order dated April 27, 2026
| PDF · Subscribers | |
Endorsement of Justice Steele dated March 25, 2026
| PDF · Subscribers | |
Application Record dated January 13, 2026
| PDF · Subscribers | |
Service List as at January 12, 2026
| 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., “Westcan Cedar Grove Villages Inc.” (Receivership (court-appointed)), Ontario Superior Court of Justice · Commercial List. Retrieved 4 November 2026, https://proceedings.ca/case/westcan-cedar-grove-villages-inc