Ontario · Receivership (court-appointed)
Third Report of the Receiver dated November 6, 2025
Court officer report · 6 November 2025
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 filing14 verified
- lawyerSean Zweig
- lawyerDavid Rosenblat
- lawyerSean Zweig
- lawyerMarc Wasserman
- lawyerDavid Rosenblat
- lawyerMarc Wasserman
- operational summaryThe Debtors are real estate development entities with no employees; there is no active construction on the Southdown or Royal Windsor Lands, and the Receiver is pursuing a Court-approved sale process with a stalking horse agreement for the Southdown and Royal Windsor properties.
- professional feesnote: Flat work fee of $50,000 if Stalking Horse APA is Successful Bid, or 1.5% commission if a different transaction is the Successful Bid; the Receiver views these fees as below market. · party: Avison Young (Agent) · amount: 50000 · currency: CAD
- purchaserKingSett Mortgage Corporation
- report date6 November 2025
- report noThird Report
- sale advisorAvison Young
- sale outcometext: proposed sale process for the property and assets of the Sellers, with the Stalking Horse APS to serve as stalking horse bid · scope: whole_business · status: process_approved
- stalking horseKingSett Mortgage Corporation