Ontario · Receivership (court-appointed)
First Report of the Receiver - 30-June-2026
Court officer report · 30 June 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 filing11 verified
- report date30 June 2026
- report noFirst Report
- operational summaryThe Receiver has taken possession/attempted to take possession of the Debtors' assets, engaged counsel and an auctioneer, dealt with fleet asset recovery, tenant defaults, and is proposing a marketing and sale process for the Properties.
- operational summaryThe Receiver has taken possession of the debtors' properties and remaining fleet assets, faced significant cooperation and information-access challenges from management, dealt with tenant defaults and unauthorized use at the properties, and is proceeding with an auction of remaining fleet assets and a marketing/sale process for the four real properties.
- process resultsnote: Five brokerages invited to submit proposals for listing brokerage engagement, not sale bids · as of: 2026-06-30 · solicited: 5
- purchaserprice: note: Net Minimum Guarantee and Auctioneer's Fee amounts are sealed in Confidential Appendix B · sealed: true · currency: CAD · scope: 41 fleet assets · status: proposed · name note: unnamed end purchaser(s) of fleet assets sold through the auction · structure: auction · name source: recital · relationship: unstated · agreement date: 2026-05-28; price: sealed: false · scope: SE Calgary Property · status: proposed · name note: prospective purchaser of the SE Calgary Property · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: NE Calgary Property (13950 52 Street NE, Calgary, Alberta) · status: proposed · name note: prospective purchaser of the NE Calgary Property · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: Winnipeg Property (70 Nicolas Avenue, Winnipeg, Manitoba) · status: proposed · name note: prospective purchaser of the Winnipeg Property · structure: real_property · name source: recital · relationship: unstated
- recovery outcomeentries: basis: estimated · quote: The Receiver understands that NBC, which will suffer a material shortfall in recovering the amount of its secured debt, is supportive of the Auction Agreement. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: NBC · creditor name: National Bank of Canada · interim final: unstated · related party: false · claims qualifier: unstated · table missing:
- report date30 June 2026
- report noFirst Report
- sale advisorMcDougall Auctioneers Ltd.; Cushman & Wakefield ULC
- sale outcometext: Auction Agreement and Sale Process/Listing Agreements are proposed and pending Court approval · scope: whole_business · status: pending_approval