Ontario · CCAA
Notice of Motion of the Monitor returnable October 1, 2026.pdf
Application / notice of application · 21 September 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 filing12 verified
- secured creditorsnote: Ranks tenth among Court-ordered charges but otherwise has priority as would be accorded under applicable provincial/federal law including the Construction Act; no aggregate amount stated · page: 6 · debtor: Hazelton Development Corporation · creditor: Lien claimants under the Construction Act (per Lien Regularization Order) · currency: CAD · security: Lien Charge (LRO Charge), tenth in priority among Court-ordered charges
- unsecured creditorsnote: Document names no individual creditors; approximate figure as stated in the Monitor's report · page: 7 · as of: 2026-02-28 · basis: Reported by the Monitor as approximately $2.49 million of accounts payable aged more than 60 days, excluding disputed amounts, by February 2026 · amount: 2490000 · debtor: Hazelton Development Corporation · creditor: Trade contractors (aggregate as reported) · currency: CAD
- secured creditorsnote: Court-ordered administration charge, not a creditor balance · page: 9 · debtor: Hazelton Development Corporation · creditor: Second Administration Charge beneficiaries (Monitor, its counsel, and the Transaction Advisor) · currency: CAD · security: Second Administration Charge, fourth in priority, maximum amount $675,000 (increased from $300,000, with additional $375,000 reserved for administering the Sale Process from May 1, 2026 onward)
- secured creditorsnote: Registered charge amount, not stated as an outstanding balance · page: 10 · amount: 30000000 · debtor: Hazelton Development Corporation · creditor: Westmount · currency: CAD · security: Charge against the Project Lands, sixth in priority
- secured creditorsnote: Facility/charge ceiling amount, not a stated outstanding balance; DIP Lender refused to continue funding after February 20, 2026 · page: 10 · debtor: Hazelton Development Corporation · creditor: First DIP Lender · currency: CAD · security: First DIP Lender's Charge, seventh in priority, maximum amount $104,708,099 plus interest, fees and expenses
- secured creditorsnote: Facility/charge ceiling amount, not a stated outstanding balance · page: 10 · debtor: Hazelton Development Corporation · creditor: Second DIP Lender · currency: CAD · security: Second DIP Lender's Charge, ninth in priority, maximum amount $3 million
- secured creditorsnote: Court-ordered administration charge, not a creditor balance · page: 10 · debtor: Hazelton Development Corporation · creditor: First Administration Charge beneficiaries (Applicant's counsel, Transaction Advisor, Monitor, Monitor's counsel) · currency: CAD · security: First Administration Charge, first in priority, maximum amount $400,000
- secured creditorsnote: Personal guarantee/indemnity type charge in favour of directors; individual names not stated · page: 10 · debtor: Hazelton Development Corporation · creditor: Directors of Hazelton Development Corporation · currency: CAD · security: Directors' Charge, fifth in priority, maximum amount $100,000
- secured creditorsnote: Court-ordered administration charge, not a creditor balance · page: 10 · debtor: Hazelton Development Corporation · creditor: Third Administration Charge beneficiaries · currency: CAD · security: Third Administration Charge, eighth in priority, maximum amount $700,000
- secured creditorsnote: Plan Sponsor Indebtedness credit bid amount as of September 30, 2026, plus applicable interest, fees and other amounts to Closing; ranks second in priority · page: 10 · as of: 2026-09-30 · amount: 73500000 · debtor: Hazelton Development Corporation · creditor: Firm Capital Mortgage Fund Inc. (Plan Sponsor) · currency: CAD · security: Plan Sponsor's Charge (Court-ordered super-priority charge), maximum amount $80 million
- secured creditorsnote: Ranks third in priority, immediately behind Plan Sponsor's Charge; secures borrowings by the Monitor from the Surety · page: 10 · debtor: Hazelton Development Corporation · creditor: Surety (unnamed) · currency: CAD · security: Surety Advance Charge, maximum amount $350,000, plus interest, fees and expenses
- counselThornton Grout Finnigan LLP