Ontario · Receivership (court-appointed)
Fourth Report of the Receiver dated July 23, 2025
Court officer report · 23 July 2025
Also filed as: Fourth Report of the Receiver dated July 23, 2025
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What we verified from this filing15 verified
- report date23 July 2025
- report noFourth Report
- courtOntario Superior Court of Justice
- court file noCV-24-00098058-0000
- proceeding typeReceivership
- provinceOntario
- statutory basisSubsection 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
- commencement date24 February 2025
- operational summaryEnvie I operates the Real Property as a student residence, with each unit having between two and four rooms, where each room is fully furnished and individually leased.
- secured creditorsPeoples Trust Company (first mortgagee) owed approximately $50.2 million as of June 1, 2025; ACM Advisors Ltd. (second mortgagee) owed approximately $12.6 million as of June 1, 2025.
- financial positionIt is not anticipated there will be any proceeds available from the Transaction for junior or unsecured creditors of Envie I, as sale proceeds will satisfy Priority Payables and the balance will be satisfied by assumption of the Peoples Loan and ACM Loan.
- process resultsbids: 1 · note: the Transaction represents the only offer received in the Sale Process for the Real Property
- purchaserHS Canada 101 Champagne, L.P.; price: sealed: false · scope: the properties owned by Ravines Senior and 138 Ontario located at 636 Prado Private, Ottawa, Ontario · status: proposed · name note: not yet identified; sale process approved for Ravines Senior · structure: real_property · name source: operative · relationship: unstated; price: sealed: false · scope: the properties owned by Promenade Senior located at 100, 130 and 150 Rossignol Drive, Ottawa, Ontario · status: proposed · name note: not yet identified; sale process approved for Promenade Properties · structure: real_property · name source: operative · relationship: unstated
- sale advisorCMLS Realty Ltd.; N.R.E. Newmark Real Estate Canada Limited; CBRE Limited
- sale outcometext: the Transaction represents the only offer received and provides the highest available realization in the circumstances · scope: parcel · status: pending_approval