Ontario · Receivership (court-appointed)
Second Report of the Receiver - Part 1 of 2
Court officer report · 3 December 2025
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 filing9 verified
- cash on handnote: Before accounting for unpaid and accrued costs; held by the Receiver together with the Property Manager. · as at: 2025-10-31 · amount: 2360000 · currency: CAD · qualifier: approximately
- operational summaryThe Receiver has been managing the Moatfield Property through a property manager, addressing tenancy defaults and lease terminations, resolving the Conterra and AZVB disputes, negotiating a further lease extension with anchor tenant Hitachi for a reduced lab area, and conducting a court-approved sale process culminating in an APS for the property, now seeking approval and vesting order.
- process resultsbids: 6 · ndas: 23 · note: 23 confidentiality agreements signed, 10 toured; 6 offers before Bid Deadline; 4 revised offers submitted August 11, 2025; one Subsequent Bidder's discussions terminated · as of: 2025-07-17 · solicited: 7000
- professional feesnote: Comprises $295,225.20 in fees (after discount) and $38,379.28 in HST. Receiver's counsel Aird & Berlis LLP fees for Jan 27, 2025 to Oct 31, 2025 separately totaled $176,890.50 in fees, $1,541.09 in disbursements, and $23,136.60 in HST. · party: Ernst & Young Inc. (Receiver) · amount: 333604.48 · period: January 25, 2025 to October 31, 2025 · currency: CAD
- purchaser1001198779 Ontario Inc.
- report date3 December 2025
- report noSecond Report of the Receiver
- sale advisorCushman & Wakefield ULC
- sale outcometext: The APS is the result of a competitive sale process; the Receiver is seeking Court approval of the AVO · scope: parcel · status: pending_approval