Supplementary Motion Record of the Trustee dated October 14, 2026 — Application / notice of application
YG Limited Partnership and YSL Residences Inc.
- Proceeding
- ProposalSection 135 of the Bankruptcy and Insolvency Act, RSC 1985, c B-3; Rules 1.04, 37 and 57.03 of the Rules of Civil Procedure
- File
- BK-21-02734090-0031
- Industry
- Real estate · Residential development
YG Limited Partnership and YSL Residences Inc. remain in active proposal proceedings before the Ontario Superior Court of Justice (Commercial List), which began with Notices of Intention to Make a Proposal filed on April 30, 2021 and were procedurally and substantively consolidated by the Consolidation Order. KSV Restructuring Inc. is Proposal Trustee. The Trustee reported consolidated assets of $330,048,000 per the Statement of Affairs sworn May 27, 2021 — largely $325,742,000 of real property and development costs at 363-391 Yonge Street and 3 Gerrard Street East, Toronto — against liabilities of $314,021,000 reflected as at June 30, 2021, including Timbercreek at approximately $106.8 million, Westmount Guarantee Services Inc. at approximately $112.5 million and 2576725 Ontario Inc. at approximately $30.9 million. On March 10, 2022 CBRE Limited filed an application under s. 135 of the BIA and Rules 1.04, 37 and 57.03 of the Rules of Civil Procedure.
Motion Record (Volume 1) – Claimant – M. Athanasoulis – 28-AUG-2026 — Application / notice of application
Motion Record (Volume 10) – Claimant – M. Athanasoulis – 28-AUG-2026 — Application / notice of application
Motion Record (Volume 11) – Claimant – M. Athanasoulis – 28-AUG-2026 — Application / notice of application
Supplementary Motion Record of the Trustee dated July 24, 2026 — Application / notice of application
Notice of Application for Leave to Appeal of the Applicant dated October 14, 2025 — Application / notice of application
Responding Compendium of Maria Athanasoulis dated October 16, 2024 — Response / objection pleading
Book of Authorities of the Respondent, Maria Athanasoulis dated September 30, 2024 — Application / notice of application
Trustee - COA Appeal Book and Compendium dated April 29, 2024 — Application / notice of application
Trustee - COA Appellant Book of Authorities dated April 29, 2024 — Application / notice of application
Joint Book of Authorities of the Class A LPs dated November 22, 2023 — Application / notice of application
Responding Book of Authorities of the Proposal Trustee dated November 10, 2023 — Response / objection pleading
Responding Factum of the Proposal Trustee dated November 10, 2023 — Response / objection pleading
Decision of Court of Appeal for Ontario dated July 20, 2023 re CBRE Claim — Endorsement / reasons
Decision of Court of Appeal for Ontario dated July 20, 2023 re Claim of Maria Athanasoulis — Endorsement / reasons
Appeal Book and Compendium of the Appellants, YongeSL LP's dated March 31, 2023 — Application / notice of application
Book of Authorities of the Respondent, CBRE Limited dated March 23, 2023 — Application / notice of application
Responding Factum of the Proposal Trustee dated March 23, 2023 — Response / objection pleading
Supplementary Responding Factum of Maria Athanasoulis re Motion returnable January 16, 2023 — Response / objection pleading
Aide Memoire of the Proposal Trustee re CBRE Appeal Order dated January 9, 2023 — Application / notice of application
Case Conference Brief of the YongeSL LPs dated January 6, 2023 — Application / notice of application
Joint Responding Motion Record of Limited Partners returnable January 16, 2023 — Response / objection pleading
Responding Motion Record of Maria Athanasoulis returnable January 16, 2023 — Response / objection pleading
The officer filed report no. Eighth Report. The proceedings involve resolving disputed claims (Athanasoulis, CBRE, Zhang) against the reserved Affected Creditor Cash Pool before any residual can be distributed to limited partners; the YSL Project itself was already transferred to a Sponsor-related entity in 2021.
Source: Eighth Report of the Proposal Trustee dated December 30, 2022
Book of Authorities of the Proposal Trustee re Motion returnable September 26, 2022 — Application / notice of application
The officer filed report no. Seventh Report. The YSL Project was transferred to the Sponsor's affiliate under the implemented Final Proposal; the Proposal Trustee is now focused on resolving remaining disputed creditor claims (Athanasoulis, CBRE, Zhang) before final distributions of the Affected Creditor Cash Pool.
Source: Seventh Report of the Proposal Trustee dated September 12, 2022
The officer filed report no. Sixth Report. The Companies have completed their real estate development transaction under the approved Final Proposal, with title to the YSL Project transferred to an affiliate of the Sponsor; the Proposal Trustee is now focused on resolving remaining disputed creditor claims and a funding dispute with the Sponsor, rather than any ongoing business operations of the debtors.
Source: Sixth Report of the Proposal Trustee dated August 19, 2022
Notice of Motion of Maria Athanasoulis to Compel Production of Documents dated June 1, 2022 — Application / notice of application
Book of Authorities of the Proposal Trustee re Motion returnable May 24, 2022 — Application / notice of application
Motion Record of the Proposal Trustee returnable May 24, 2022 — Application / notice of application
The officer filed report no. Fifth Report. The report focuses on the status of creditor claims following implementation of the approved Final Proposal, including an interim distribution to proven creditors and proposed settlements with five former employees, with several claims still disputed and unresolved.
Source: Fifth Report of the Proposal Trustee dated May 11, 2022 - Part 1 of 3
CBRE Limited filed an application invoking s. 135 of the Bankruptcy and Insolvency Act and Rules 1.04, 37 and 57.03 of the Rules of Civil Procedure.
The officer filed report no. Fourth Report. Construction of the YSL Project remains suspended, with the debtors seeking court approval of a further amended proposal (sponsored by Concord Properties) to fund creditor distributions and transfer the project to the sponsor, after the court rejected an earlier version.
Source: Fourth Report of the Proposal Trustee dated July 15, 2021
Supplement to Third Report of the Proposal Trustee dated June 22, 2021 — Court officer report
Notice of Hearing of Application for Court Approval of Proposal dated June 4, 2021 — Notice of hearing
Certificate of Filing the Notice of Intention dated April 30, 2021 - YG Limited Partnership — NOI certificate of filing
Certificate of Filing the Notice of Intention dated April 30, 2021 - YSL Residences Inc. — NOI certificate of filing
Case update
YSL Residences: the trustee said it was not an adversary
A proposal trustee disallowed a $18 million profit-share claim, lost that fight to the Court of Appeal and the Supreme Court, was ordered to value the claim instead, hired two appraisers and valued it at zero. When the claimant asked what the trustee had told its experts, the trustee said the communications were irrelevant. On August 7 Justice Kimmel ordered production — and the reason was the trustee's own position that it had never been adverse to her.
Debtor
YG Limited Partnership and YSL Residences Inc.
Proposal trustee
KSV
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Kimmel | Ontario Superior Court of Justice | 13 orders, Nov 2022 – Aug 2026 | 198 cases on record |
| Justice Gilmore | Ontario Superior Court of Justice | 6 orders, May 2021 – Jul 2022 | 68 cases on record |
| Justice Osborne | Ontario Superior Court of Justice | 5 orders, Nov 2022 – Jan 2023 | 168 cases on record |
| Justice Dunphy | Ontario Superior Court of Justice | 5 orders, Jun 2021 – Jul 2021 | 93 cases on record |
Counsel of record
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Timbercreek Mortgage Servicing Inc. · in 7 casesPreliminary list of creditors as at April 29, 2021, unaudited, submitted without admission as to liability; total - secured as stated — debtor: YSL Residences Inc. · as of 29 Apr 2021 | $107M | NOI Notice to Creditors dated May 5, 2021 - YSL Residences Inc. |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
4 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution. Mike Catsiliras a distribution.FinalAppeal Book and Compendium of the Appellants, YongeSL LP's · 31 Mar 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the plansanctionedper the debtor | Seventh Report of the Proposal Trustee · 12 Sep 2022 |
| Secured | Secured Claims under the Proposal | — | paid in full | Under the plansanctionedper the debtor | Appeal Book and Compendium of the Appellants, YongeSL LP's · 31 Mar 2023 |
| Preferred | employee claims (like the Wrongful Dismissal Claim, if not appealed) | — | Finalper the proposal trustee | Appeal Book and Compendium of the Appellants, YongeSL LP's · 31 Mar 2023 | |
| Unsecured | creditors with Proven Claims | — | interim | Finalper the proposal trustee | Appeal Book and Compendium of the Appellants, YongeSL LP's · 31 Mar 2023 |
| Unsecured | 480 Yonge Street Inc. and 480 Yonge Street Limited Partnership (Halo) | asserted | Estimated | Fifth Report of the Proposal Trustee dated May 11, 2022 - Part 2 of 3 · 11 May 2022 | |
| UnsecuredMr. Zhang / Harbour International claim | Harbour International Investment Group Inc. | — | no distributioninterim | Finalper the proposal trustee | Fifth Report of the Proposal Trustee dated May 11, 2022 - Part 1 of 3 · 11 May 2022 |
| Unsecuredunsecured claims (Halo proceeding) | Mike Catsiliras | asserted | interim | Estimatedper the debtor | Fifth Report of the Proposal Trustee dated May 11, 2022 - Part 3 of 3 · 11 May 2022 |
| Equity | Class A Unit holders of YG Limited Partnership (limited partners) | — | no distribution | Under the plansanctionedper the debtor | Appeal Book and Compendium of the Appellants, YongeSL LP's · 31 Mar 2023 |
| Equity | equity holders / related party claims | — | Under the plansanctionedper the debtor | Fifth Report of the Proposal Trustee dated May 11, 2022 - Part 1 of 3 · 11 May 2022 |
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.
8 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
Professional fees
$88.3K
As at 31 Jul 2022Sixth Report of the Proposal Trustee dated August 19, 2022
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Supplementary Motion Record of the Trustee dated October 14, 2026
| PDF · Subscribers | |
Book of Authorities of Maria Athanasoulis dated September 16, 2026
| PDF · Subscribers | |
| Motion Record (Volume 1) – Claimant – M. Athanasoulis – 28-AUG-2026 | PDF · Subscribers | |
Motion Record (Volume 10) – Claimant – M. Athanasoulis – 28-AUG-2026
| PDF · Subscribers | |
| Motion Record (Volume 11) – Claimant – M. Athanasoulis – 28-AUG-2026 | PDF · Subscribers | |
Endorsement of Justice Kimmel dated August 7, 2026
| PDF · Subscribers | |
Reply Factum of Maria Athanasoulis dated July 27, 2026
| PDF · Subscribers | |
| Factum of the Trustee dated July 24, 2026 | PDF · Subscribers | |
Supplementary Motion Record of the Trustee dated July 24, 2026
| PDF · Subscribers | |
Factum of Maria Athanasoulis dated July 21, 2026
| PDF · Subscribers | |
Endorsement of Justice Jessica Kimmel dated July 2, 2026
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated July 2, 2026
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated June 24, 2026
| PDF · Subscribers | |
Aide Memoire of the Proposal Trustee dated June 23, 2026
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated December 3, 2025
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated November 12, 2025
| PDF · Subscribers | |
Aide Memoire of Maria Anthanasoulis dated November 11, 2025
| PDF · Subscribers | |
Notice of Application for Leave to Appeal of the Applicant dated October 14, 2025
| PDF · Subscribers | |
| Decision from The Court of Appeal for Ontario dated August 14, 2025 | PDF · Subscribers | |
| Responding Compendium of Maria Athanasoulis dated October 16, 2024 | PDF · Subscribers | |
| Book of Authorities of the Respondent, Maria Athanasoulis dated September 30, 2024 | PDF · Subscribers | |
| Notice of Merit Hearing dated July 11, 2024 | PDF · Subscribers | |
Factum of the Appellants, the Class A LP's dated June 7, 2024
| PDF · Subscribers | |
| Certificate of Perfection - C.Li dated May 13, 2024 - Signed | PDF · Subscribers | |
| AOA - Class A LPs dated May 7, 2024 | PDF · Subscribers | |
| EXHB - Class A LPs dated May 7, 2024 | PDF · Subscribers | |
| Trustee - COA Appeal Book and Compendium dated April 29, 2024 | PDF · Subscribers | |
| Trustee - COA Appellant Book of Authorities dated April 29, 2024 | PDF · Subscribers | |
| Notice of Appeal of the Appellants dated April 2, 2024 | PDF · Subscribers | |
| Certificate re Evidence on Appeal dated April 1, 2024 | PDF · Subscribers | |
Court Order dated March 19, 2024
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated March 19, 2024
| PDF · Subscribers | |
| Joint Book of Authorities of the Class A LPs dated November 22, 2023 | PDF · Subscribers | |
| Joint Factum of the Class A LPs dated November 22, 2023 | PDF · Subscribers | |
| Responding Book of Authorities of the Proposal Trustee dated November 10, 2023 | PDF · Subscribers | |
| Responding Factum of the Proposal Trustee dated November 10, 2023 | PDF · Subscribers | |
Endorsement of Justice Kimmel dated September 14, 2023
| PDF · Subscribers | |
Notice of Motion dated September 8, 2023
| PDF · Subscribers | |
| Decision of Court of Appeal for Ontario dated July 20, 2023 re CBRE Claim | PDF · Subscribers | |
| Decision of Court of Appeal for Ontario dated July 20, 2023 re Claim of Maria Athanasoulis | PDF · Subscribers | |
Certificate of Perfection dated April 6, 2023
| PDF · Subscribers | |
Appeal Book and Compendium of the Appellants, YongeSL LP's dated March 31, 2023
| PDF · Subscribers | |
| Exhibit Book of the Appellants, YongeSL LP's dated March 31, 2023 | PDF · Subscribers | |
| Factum of the Appellants, YoungeSL LP's dated March 31, 2023 | PDF · Subscribers | |
| Book of Authorities of the Respondent, CBRE Limited dated March 23, 2023 | PDF · Subscribers | |
| Responding Factum of the Proposal Trustee dated March 23, 2023 | PDF · Subscribers | |
Court Order dated February 10, 2023
| PDF · Subscribers | |
Decision of Justice Kimmel dated February 10, 2023
| PDF · Subscribers | |
| Factum of the Appellants dated January 23, 2023 | PDF · Subscribers | |
| Supplementary Responding Factum of Maria Athanasoulis re Motion returnable January 16, 2023 | PDF · Subscribers | |
Endorsement of Justice Osborne dated January 10, 2023
| PDF · Subscribers | |
Aide Memoire of the Proposal Trustee re CBRE Appeal Order dated January 9, 2023
| PDF · Subscribers | |
Case Conference Brief of the YongeSL LPs dated January 6, 2023
| PDF · Subscribers | |
| Joint Responding Motion Record of Limited Partners returnable January 16, 2023 | PDF · Subscribers | |
| Responding Motion Record of Maria Athanasoulis returnable January 16, 2023 | PDF · Subscribers | |
Eighth Report of the Proposal Trustee dated December 30, 2022
| PDF · Subscribers | |
Notice of Motion re Process dated December 22, 2022
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated December 21, 2022
| PDF · Subscribers | |
Court Order dated November 22, 2022
| PDF · Subscribers | |
Revised Endorsement of Justice Osborne dated November 22, 2022
| PDF · Subscribers | |
Endorsement of Justice Osborne dated November 16, 2022
| PDF · Subscribers | |
Endorsement of Justice Kimmel dated November 1, 2022
| PDF · Subscribers | |
Book of Authorities of the Proposal Trustee re Motion returnable September 26, 2022
| PDF · Subscribers | |
| Reply Factum of CBRE Limited dated September 23, 2022 | PDF · Subscribers | |
Reply Factum of the Proposal Trustee re Motion returnable September 26, 2022
| PDF · Subscribers | |
| Responding Factum of YongeSL LP dated September 20, 2022 | PDF · Subscribers | |
Factum of the Proposal Trustee re Motion returnable September 26, 2022
| PDF · Subscribers | |
Seventh Report of the Proposal Trustee dated September 12, 2022
| PDF · Subscribers | |
| Responding Motion Record returnable September 26, 2022 | PDF · Subscribers | |
Sixth Report of the Proposal Trustee dated August 19, 2022
| PDF · Subscribers | |
Endorsement of Justice Gilmore dated July 29, 2022
| PDF · Subscribers | |
Endorsement of Justice Gilmore dated June 8, 2022
| PDF · Subscribers | |
Notice of Motion of Maria Athanasoulis to Compel Production of Documents dated June 1, 2022
| PDF · Subscribers | |
Endorsement of Justice Gilmore dated May 24, 2022
| PDF · Subscribers | |
Settlement Approval Order dated May 24, 2022
| PDF · Subscribers | |
Book of Authorities of the Proposal Trustee re Motion returnable May 24, 2022
| PDF · Subscribers | |
Motion Record of the Proposal Trustee returnable May 24, 2022
| PDF · Subscribers | |
Fifth Report of the Proposal Trustee dated May 11, 2022 - Part 1 of 3
| PDF · Subscribers | |
Fifth Report of the Proposal Trustee dated May 11, 2022 - Part 2 of 3
| PDF · Subscribers | |
Fifth Report of the Proposal Trustee dated May 11, 2022 - Part 3 of 3
| PDF · Subscribers | |
Endorsement of Justice Cavanagh dated March 16, 2022
| PDF · Subscribers | |
Notice of Motion dated March 10, 2022
| PDF · Subscribers | |
Endorsement of Justice Dunphy dated July 27, 2021
| PDF · Subscribers | |
Proposal Approval Order dated July 16, 2021
| PDF · Subscribers | |
| Reasons for Decision dated July 16, 2021 | PDF · Subscribers | |
Fourth Report of the Proposal Trustee dated July 15, 2021
| PDF · Subscribers | |
Third Amended Proposal V2 dated July 15, 2021
| PDF · Subscribers | |
| Proposed Offer to All Equityholders dated July 9, 2021 | PDF · Subscribers | |
Third Amended Proposal dated July 8, 2021
| PDF · Subscribers | |
| Amended Reasons for Interim Decision dated July 2, 2021 | PDF · Subscribers | |
Endorsement of Justice Dunphy dated June 29, 2021
| PDF · Subscribers | |
Sealing Orders dated June 24, 2021
| PDF · Subscribers | |
| Affidavit of Cliff McCracken Sworn June 22, 2021 | PDF · Subscribers | |
Supplement to Third Report of the Proposal Trustee dated June 22, 2021
| PDF · Subscribers | |
| Class A LPs submissions on Amended Proposal #3 | PDF · Subscribers | |
| Joint Book of Authorities of Class A LPs dated June 21, 2021 re Sanction Hearing | PDF · Subscribers | |
| Joint Reply of the Applicants dated June 21, 2021 | PDF · Subscribers | |
| Third Report of the Proposal Trustee dated June 18, 2021 | PDF · Subscribers | |
| Affidavit of Patrick Smith sworn June 16, 2021 | PDF · Subscribers | |
Second Amended Proposal dated June 15, 2021
| PDF · Subscribers | |
YSL - Service List as at June 13, 2021
| PDF · Subscribers | |
| Letter to Creditors dated June 4, 2021 | PDF · Subscribers | |
| Notice of Hearing of Application for Court Approval of Proposal dated June 4, 2021 | PDF · Subscribers | |
Report to Creditors dated June 4, 2021
| PDF · Subscribers | |
Amended Proposal dated June 3, 2021
| PDF · Subscribers | |
Endorsement of Justice Dunphy dated June 1, 2021
| PDF · Subscribers | |
Consolidation Order dated May 14, 2021
| PDF · Subscribers | |
| Second Report of the Proposal Trustee dated May 14, 2021 | PDF · Subscribers | |
Endorsement of Justice Gilmore dated May 7, 2021
| PDF · Subscribers | |
| First Report of the Proposal Trustee dated May 6, 2021 | PDF · Subscribers | |
NOI Notice to Creditors dated May 5, 2021 - YSL Residences Inc.
| PDF · Subscribers | |
Blackline - Amended Proposal #3
| PDF · Subscribers | |
| Certificate of Filing the Notice of Intention dated April 30, 2021 - YG Limited Partnership | PDF · Subscribers | |
| Certificate of Filing the Notice of Intention dated April 30, 2021 - YSL Residences Inc. | 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., “YG Limited Partnership and YSL Residences Inc.” (Proposal), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/yg-limited-partnership-and-ysl-residences-inc