Ontario · Receivership (court-appointed)
Second Report of the Receiver dated June 23, 2026
Court officer report · 23 June 2026
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What we verified from this filing7 verified
- report date23 June 2026
- report noSecond Report
- operational summarySubject to the Debtor no longer originating any further mortgages, consistent with its intended orderly wind-down, the Business has continued to operate in the normal course under the supervision, and at the direction, of the Receiver.
- operational summaryThe Debtor has stopped originating new mortgages and is undergoing an orderly wind-down under the Receiver's supervision, continuing to service mortgages and facilitate power of sale/foreclosure proceedings and payroll in the ordinary course.
- recovery outcomeentries: basis: estimated · quote: the reduction of the Debtor's interest obligations will preserve value for the Debtor's creditors, especially the Unsecured Noteholders that are expected to suffer a complete or substantial shortfall; · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: receiver · class label: Unsecured Noteholders · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The Debtor advised that, absent such a transaction, there was a significant risk that the Debtor would be required to commence insolvency proceedings and that the Unsecured Noteholders would be unlikely to receive any recovery in a liquidation scenario. · pct of: unstated · outcome: nil · class key: unsecured · stated by: debtor · class label: Unsecured Noteholders · interim final: unstated · claims qualifier: unstated · stated on: 2026-06-23 · table missing:
- report date23 June 2026
- report noSecond Report