Ontario · CCAA
Thirty-Second Report of the Monitor dated July 22, 2026.pdf
Court officer report · 22 July 2026
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What we verified from this filing9 verified
- operational summaryThe Company has abandoned completing the condominium project and is instead running a Sale Process to sell the Project 'as-is', with bidders intending to operate it as a rental property rather than complete pre-sold condominium units, requiring disclaimer of Pre-Sale Purchasers' agreements.
- process resultsbids: 4 · lois: 1 · ndas: 11 · note: four non-binding bids received May 15, 2026, subsequently one LOI entered and later terminated · as of: 2026-05-15 · solicited: 190
- professional feesnote: Approximate outstanding fee arrears owed to Representative Counsel for Pre-Sale Purchasers; no funds currently available to pay them. · party: Representative Counsel (Cassels Brock & Blackwell LLP) · amount: 15000 · currency: CAD
- purchaserprice: note: non-binding proposed purchase price, highest among bidders received by that time, not quantified · sealed: false · scope: the Project · status: terminated · name note: bidder under terminated LOI, unnamed · structure: assets · name source: recital · relationship: unstated
- recovery outcomeentries: basis: estimated · quote: As stated in prior Monitor's Reports, and based on information available to the Monitor, there remains an expectation that the Surety and subordinate stakeholders will not be paid in full from the ultimate proceeds of the Project. · pct of: unstated · outcome: shortfall · stated by: monitor · class label: Surety and subordinate stakeholders · interim final: unstated · claims qualifier: unstated · table missing:
- report date22 July 2026
- report noThirty-Second Report
- sale advisorthe Transaction Advisor
- sale outcometext: Sale Process ongoing; LOI terminated; Monitor re-engaging with other bidders to secure a Sale Agreement · scope: whole_business · status: not_completed