Quebec · Interim receivership
Application for the appointment of an Interim Receiver and a Receiver
Application / notice of application · 15 April 2026
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What we verified from this filing9 verified
- applicantEQUITABLE BANK
- appointeeDELOITTE RESTRUCTURING INC.
- appointee roleProposed Interim Receiver
- courtSUPERIOR COURT (Commercial Division)
- court file no500-11-
- provinceQUÉBEC
- statutory basisSections 47 and 243 ff. of the Bankruptcy and Insolvency Act, R.S.C., (1985), ch. B-3
- secured creditorsnote: Amount is a floor figure ('more than $58 million', stated 'as of the date hereof' i.e. application date). Prior floor stated in Forbearance Agreement (Exhibit P-10, s.2.1): debtor acknowledged indebtedness of 'not less than $45,800,000.00' as of July 31, 2024. Loan personally guaranteed by Sheldon Mintzberg, The Mintzberg Family Trust and Marine Properties Ltd. (related-party guarantors, not separate secured creditors). Debtor also in default of municipal/school taxes to City of Montréal (amounts not secured by this creditor's security). · page: 13 · as of: 2026-04-15 · amount: 58000000 · debtor: La Société Immobilière en Propriété Marine Ltée / Marine Property Leaseholds Ltd · creditor: Equitable Bank · currency: CAD · security: First rank hypothec (Deed of Hypothecary Loan, Dec 8 2021) on the Marine Property and rents/insurance/movables, registered Dec 21 2021 at Land Register (no. 26 919 416) and RPMRR (no. 21-1382185-0001), to the extent of $56,250,000 (125% of $45M Initial Loan) plus an additional 25% hypothec; Second Hypothec (Acte d'hypothèque, Nov 27 2025) on the Marine Property for $65,000,000 plus 25% additional hypothec, registered Nov 27/28 2025 (Land Register no. 29 928 315 / RPMRR no. 25-1560720-0001); also secured by a third-party first-ranking hypothec granted by related company 9044-0744 Québec Inc. (controlled by Sheldon Mintzberg) on the Esplanade Property for $5,000,000 plus 25% additional hypothec (25% p.a. interest), per Forbearance Agreement s.5.1
- counselLanglois Lawyers LLP