Ontario · Receivership (court-appointed)
Second Report of the Receiver dated February 10, 2026
Court officer report · 10 February 2026
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- disbursementsnote: Excess of receipts over disbursements is $84,222. The report text refers to the period start as May 14, 2025. · since: May 14, 2025 (appointment date), through January 31, 2026 · amount: 716829 · currency: CAD
- operational summaryThe debtors previously operated a 54-suite retirement residence in Lucan, Ontario, and no longer operate. The Receiver ran a sale process and now seeks approval of a reverse vesting transaction with Dementia Care Holdings Inc. that would preserve about $22.5 million of non-capital losses, with closing targeted by March 31, 2026 and the Receiver's discharge to follow.
- professional feesnote: Stated as $84,647.57 in fees and disbursements plus HST of $11,004.18, for a total of $95,651.76 (the distribution section cites $95,651.75). Receiver's counsel Chaitons: $74,768.10 plus HST of $9,659.44, total $84,427.54. Receiver estimates further fees of $75,000 plus HST and Chaitons $100,000 plus HST to complete the administration. · party: TDB Restructuring Limited (the Receiver) · amount: 95651.76 · period: September 1, 2025 to January 31, 2026 · currency: CAD
- receipts cumulativenote: Includes advances from MarshallZehr totaling $800,000 under the Receiver's Certificates. · since: May 14, 2025 (appointment date), through January 31, 2026 · amount: 801051 · currency: CAD
- recovery outcomeentries: basis: liquidation_alternative · quote: Given the Company's outstanding obligations to secured creditors, there will be no recovery for unsecured creditors in this or any alternative structure. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-02-10 · table missing:
- report date10 February 2026
- report noSecond Report of the Receiver