Quebec · CCAA

2026-01-13 - Application - Initial Order, Amended and Restated Initial Order and Bidding Procedures Order

Application / notice of application · 13 January 2026

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What we verified from this filing21 verified

secured creditorsnote: Member of Mansfield Syndicate; BMO acts as administrative agent/hypothecary representative for the Lenders · page: 14 · as of: 2026-01-07 · amount: 39639559.9 · debtor: Mansfield LP · creditor: Bank of Montreal · currency: CAD · security: Mansfield Security: first-ranking immovable hypothec of $118,000,000 (plus 20% additional hypothec and 25% interest) on Mansfield Immovable, reg. no. 27,110,697 (Mar. 25, 2022); conventional movable hypothec of $118,000,000 (plus 20% additional) on universality of movable property, RDPRM 22-0313457-0001 (registered principal amounts, not balances)
secured creditorsnote: Member of Mansfield Syndicate · page: 14 · as of: 2026-01-07 · amount: 17197043.38 · debtor: Mansfield LP · creditor: Laurentian Bank of Canada · currency: CAD · security: Mansfield Security (see BMO entry, same project)
secured creditorsnote: Member of Mansfield Syndicate · page: 14 · as of: 2026-01-07 · amount: 16754568.34 · debtor: Mansfield LP · creditor: Bank of China · currency: CAD · security: Mansfield Security (see BMO entry, same project)
secured creditorsnote: Member of Mansfield Syndicate · page: 14 · as of: 2026-01-07 · amount: 32428710.42 · debtor: Mansfield LP · creditor: Canadian Imperial Bank of Commerce · currency: CAD · security: Mansfield Security (see BMO entry, same project)
secured creditorsnote: Member of Mansfield Syndicate · page: 14 · as of: 2026-01-07 · amount: 14740322.92 · debtor: Mansfield LP · creditor: Coast Capital Savings Federal Credit Union · currency: CAD · security: Mansfield Security (see BMO entry, same project)
secured creditorsnote: Member of PSQ1 Syndicate; BMO acts as administrative agent/hypothecary representative · page: 14 · as of: 2026-01-07 · amount: 73312861.4 · debtor: PSQ1 LP (1201-1215 Phillips Square Phase I Development Limited Partnership) · creditor: Bank of Montreal · currency: CAD · security: PSQ1 Security: first-ranking immovable hypothec of $320,000,000 (plus 20% additional, 25% interest) reg. no. 26,168,488 (Mar. 29, 2021); conventional movable hypothec of $320,000,000 (plus 20% additional), RDPRM 21-0302916-0001 (registered principal amounts, not balances)
secured creditorsnote: Member of PSQ1 Syndicate · page: 14 · as of: 2026-01-07 · amount: 47016804.51 · debtor: PSQ1 LP · creditor: Bank of China · currency: CAD · security: PSQ1 Security (see BMO entry, same project)
secured creditorsnote: Member of PSQ1 Syndicate · page: 14 · as of: 2026-01-07 · amount: 32550095.43 · debtor: PSQ1 LP · creditor: Coast Capital Savings Federal Credit Union · currency: CAD · security: PSQ1 Security (see BMO entry, same project)
secured creditorsnote: Member of PSQ1 Syndicate · page: 14 · as of: 2026-01-07 · amount: 47016804.54 · debtor: PSQ1 LP · creditor: Equitable Bank · currency: CAD · security: PSQ1 Security (see BMO entry, same project)
secured creditorsnote: Member of PSQ1 Syndicate · page: 14 · as of: 2026-01-07 · amount: 18083386.41 · debtor: PSQ1 LP · creditor: First National Finance LP · currency: CAD · security: PSQ1 Security (see BMO entry, same project)
secured creditorsnote: Member of PSQ1 Syndicate · page: 14 · as of: 2026-01-07 · amount: 14466709.06 · debtor: PSQ1 LP · creditor: General Bank · currency: CAD · security: PSQ1 Security (see BMO entry, same project)
secured creditorsnote: Member of PSQ2 Syndicate; BMO acts as administrative agent/hypothecary representative · page: 15 · as of: 2026-01-07 · amount: 77856395.6 · debtor: PSQ2 LP (1201-1215 Phillips Square Phase II Development Limited Partnership) · creditor: Bank of Montreal · currency: CAD · security: PSQ2 Security: first-ranking immovable hypothec of $168,000,000 (plus 20% additional, 25% interest) reg. no. 28,245,082 (Aug. 30, 2023); conventional movable hypothec of $168,000,000, RDPRM 23-1026674-0001 (registered principal amounts, not balances)
secured creditorsnote: Member of PSQ2 Syndicate · page: 15 · as of: 2026-01-07 · amount: 26372980.51 · debtor: PSQ2 LP · creditor: Central 1 Credit Union · currency: CAD · security: PSQ2 Security (see BMO entry, same project)
secured creditorsnote: Member of PSQ2 Syndicate · page: 15 · as of: 2026-01-07 · amount: 24865953.05 · debtor: PSQ2 LP · creditor: Peakhill Capital · currency: CAD · security: PSQ2 Security (see BMO entry, same project)
secured creditorsnote: BMO is sole lender for Phillips Square Phase III; construction not yet commenced · page: 15 · as of: 2026-01-07 · amount: 11670245.28 · debtor: PSQ3 LP (1201-1215 Phillips Square Development Limited Partnership) · creditor: Bank of Montreal · currency: CAD · security: PSQ3 Security: first-ranking immovable hypothec of $11,645,000 (plus 20% additional, 25% interest) reg. no. 28,245,081 (Aug. 30, 2023); conventional movable hypothec of $11,645,000, RDPRM 23-1026678-0001 (registered principal amounts, not balances)
secured creditorsnote: Security ranks after the Mansfield Security due to cessation of rank in favor of Bank of Montreal (reg. 27,110,697) · page: 16 · debtor: Mansfield LP · creditor: Westmount Guarantee Services Inc. · currency: CAD · security: Movable hypothec of $60,000,000 registered RDPRM 21-1271742-0001 (Nov. 24, 2021) encumbering Mansfield Movable Property (registration ceiling, not a balance)
secured creditorsnote: Ranks after PSQ1 Security due to cessations of rank in favor of Bank of Montreal · page: 18 · debtor: PSQ1 LP · creditor: Travelers Insurance Company of Canada · currency: CAD · security: Immovable hypothec of $40,000,000 (reg. 26,127,867, Mar. 11, 2021) and movable hypothec of $40,000,000 (RDPRM 21-0225296-0001) encumbering PSQ1 Immovable/Movable Property (registration ceilings, not balances)
secured creditorsnote: Disputed claim - PSQ1 LP and PSQ2 LP deny liability; as of the date of the Application these hypothecs remain undischarged · page: 19 · debtor: PSQ1 LP and PSQ2 LP · creditor: Maçonnerie Mathieu Inc. · currency: CAD · security: Legal hypothec(s) of construction registered December 12, 2025 against the Phillips Square Phase I and Phase II Immovables for unpaid contractual holdbacks (amount not stated)
secured creditorsnote: Ranks after PSQ1 Security · page: 19 · debtor: PSQ1 LP · creditor: Société en commandite IFSP I · currency: CAD · security: Immovable hypothec of $7,000,000 (reg. 29,542,429, June 20, 2025) and movable hypothecs of $7,000,000 each (RDPRM 25-0794451-0001 and 25-0813868-0001) encumbering PSQ1/PSQ2 Movable Property (registration ceilings, not balances)
secured creditorsnote: Ranks after PSQ2 Security due to cessations of rank in favor of Bank of Montreal · page: 21 · debtor: PSQ2 LP · creditor: Travelers Insurance Company of Canada · currency: CAD · security: Immovable hypothec of $60,000,000 (reg. 27,338,320, June 16, 2022) and movable hypothecs of $60,000,000 each (RDPRM 22-0668175-0001 and 22-0672683-0001) encumbering PSQ2 Immovable/Movable Property (registration ceilings, not balances)
secured creditorsnote: Ranks after Travelers Insurance Company of Canada per cessation of rank (RDPRM 22-0672728-0001); also cited as a limited partner providing certain contributions to Phillips Square I · page: 23 · debtor: PSQ3 LP · creditor: Société en commandite Ipso Facto VII · currency: CAD · security: Movable hypothec of $25,000,000 (RDPRM 21-0679629-0001, June 21, 2021) encumbering PSQ3 Movable Property (registration ceiling, not a balance)