Ontario · Receivership (court-appointed)
Reply Record of the Receiver
Application / notice of application · 1 May 2026
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What we verified from this filing1 verified
- secured creditorsnote: Original RBC Loan under Credit Agreement dated January 26, 2024 among YSS 1 (borrower), RioCan REIT (guarantor) and RBC (Administrative Agent), stated principal amount of $75,000,000 (facility/original loan principal, not a current outstanding balance). RBC's right, title and interest in the RBC Loan and Leasehold Mortgage were assigned to RC Finance Trust (an affiliate of RioCan REIT, the Applicant) on October 23, 2025 pursuant to a Loan Purchase Agreement. As a result, RC Finance Trust — a related party of the Applicant RioCan REIT — now holds the primary economic interest in the assets of YSS 1. No current outstanding balance is stated in these pages; the $75,000,000 and $100,000,000 figures represent, respectively, the original loan principal and the registered/debenture principal (a registration ceiling), not stated balances. · page: 10 · as of: 2024-01-26 · debtor: 2491815 Ontario Limited Partnership (formerly HBC YSS 1 Limited Partnership) ("YSS 1") · creditor: RC Finance Trust (as assignee of Royal Bank of Canada, formerly Administrative Agent for Lenders under the Credit Agreement) · currency: CAD · security: Leasehold Mortgage of YSS 1's interest in the Head Lease (Yorkdale Property); registered as Notice of Charge of Lease (AT6502526, receipted 2024-01-26) with registered principal of $100,000,000.00 CDN and interest rate of 25% (registration relates to AT3195 and AT6499150); also secured by a Demand Debenture dated January 26, 2024 with a stated principal sum of $100,000,000, granted by Hudson's Bay Company ULC as Chargor