Ontario · Receivership (court-appointed)
Fifth Report of the Receiver re 2195186 Ontario Inc. dated October 28, 2025
Court officer report · 28 October 2025
Also filed as: Fifth Report of the Receiver re 2195186 Ontario Inc. dated October 28, 2025
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What we verified from this filing8 verified
- report date28 October 2025
- report noFifth Report
- operational summaryThe Fifth Report provides background on Envie I, updates on the Transaction that closed October 1, 2025 for the sale of the Real Property to HS Canada 101 Champagne, L.P., an overview of the Receiver's activities since the Fourth Report (including corresponding with the Purchaser, Peoples, ACM, terminating Varsity's property management agreement, filing HST returns, and preparing statements of receipts and disbursements), a summary of professional fees, and recommendations for Court relief including assignment of the Property Tax Claim to ACM, approval of fees, approval of prior reports, and discharge of the Receiver upon filing a Discharge Certificate. On October 27, 2025, the Receiver assigned Envie I into bankruptcy.
- professional feesparty: Receiver (KSV) · amount: 575125 · period: December 4, 2024 to September 30, 2025 · currency: CAD; party: Blaney McMurtry LLP · amount: 807731 · period: December 12, 2024 to September 30, 2025 · currency: CAD; party: Receiver and Blaney (Fee Accrual estimate) · amount: 100000 · period: October 1, 2025 to completion of mandate · currency: CAD
- cash on hand759307.00
- receipts cumulative6820340.00
- fee scheduleengagements: form: report_table · rows: · money: approximate: false · period: end: 2025-09-30 · kind: cumulative · label: Schedule of Professionals' Time and Rates For the Period from December 4, 2024 to September 30, 2025 · quote: Schedule of Professionals' Time and Rates For the Period from December 4, 2024 to September 30, 2025 · start: 2024-12-04 · approval: state: unstated · averages: rate: 654.12 · quote: The average hourly rate of the Receiver is $ 654.12. · scope: Receiver · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: Fifth Report to Court of KSV Restructuring Inc. as Receiver and Manager · context quote: Fifth Report to Court of KSV Restructuring Inc. as Receiver and Manager of 2067166 Ontario Inc., 2265132 Ontario Inc., Ashcroft Homes - La Promenade Inc., 2195186 Ontario Inc., 1384274 Ontario Inc. and 1019883 Ontario Inc.; form: report_table · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 771.32 · quote: The average hourly rates for the Receiver and Blaney for the referenced billing periods are $654.12 and $771.32, respectively. · scope: Blaney · currency: · invoices: · firm text: Blaney · firm quote: Blaney · context quote: The average hourly rates for the Receiver and Blaney for the referenced billing periods are $654.12 and $771.32, respectively.
- recovery outcomeentries: basis: actual · quote: Peoples, the first mortgagee over the Real Property, received a distribution for the balance owing to it to the closing date and its remaining loan amount was assumed by the Purchaser; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Peoples, the first mortgagee over the Real Property · creditor name: Peoples Trust Company · interim final: unstated · claims qualifier: unstated; basis: actual · quote: the balance owing to ACM, the second mortgagee over the Real Property, was partially assumed by the Purchaser, resulting in it incurring a shortfall under its loan to Envie I exceeding $1 million, subject to any further recoveries; · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: ACM, the second mortgagee over the Real Property · creditor name: ACM Advisors Ltd. · interim final: unstated · conditional on: subject to any further recoveries · claims qualifier: unstated · shortfall amount: 1000000 · stated on: 2025-10-28 · table missing: