Ontario · CCAA
Second Report of the Monitor - 2026.03.27
Court officer report · 27 March 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 filing7 verified
- cash on handnote: Reported ending cash balance of $104,498 at March 20, 2026 (RBC account), approximately $93,000 higher than forecast · as at: 2026-03-20 · amount: 104498 · currency: CAD · qualifier: approximately $104,000
- disbursementsnote: Total disbursements per the summary table; net cash outflow approximately $189,000 over the Reporting Period versus $929,038 forecast disbursements · since: February 14, 2026 (five-week Reporting Period ended March 20, 2026) · amount: 188759 · currency: CAD
- operational summaryThe Applicant is managing operations in the normal course while stabilizing the business, with four employees, addressing Tarion warranty claims and remaining construction to complete the Project, and preparing to sell its 55 unsold condominium units through a court-supervised unit sale process.
- professional feesnote: Actual professional fees paid during the Reporting Period were $123,000 versus $719,000 forecast (timing difference of approximately $596,000). The updated forecast projects approximately $1.4 million ($1,354,588) of professional fees through July 3, 2026. · party: Professional fees in CCAA Proceedings generally (applicant's counsel, Monitor, Monitor's counsel, Surety DIP Lender's counsel, former monitor SLF and its counsel) · amount: 123000 · period: February 14, 2026 to March 20, 2026 · currency: CAD
- receipts cumulativenote: Total receipts of $3,136, consisting of collection of occupancy rent/VTB; excludes $250,000 of DIP financing draws · since: February 14, 2026 (five-week Reporting Period ended March 20, 2026) · amount: 3136 · currency: CAD
- report date27 March 2026
- report noSecond Report