Ontario · CCAA
Forty-Seventh Report of the Monitor, dated September 21, 2026
Court officer report · 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 filing14 verified
- secured creditorsnote: Outstanding balance not stated in the body of the report. A $11 million distribution was made to the DIP Agent on July 16, 2026 from Factoring Sale Proceeds (approximately $14.9 million held), subject to a Reimbursement Agreement and to Mitsubishi Canada's pending motion for leave to appeal. The Monitor anticipates a further distribution to repay all DIP obligations in full once the Final DIP Reconciliation is complete. The cash flow forecast notes refer to a DIP Payout statement as of June 30, 2026, unverified by the Monitor and excluding later interest and costs; the figure itself is not given on the pages provided. Further DIP obligations may accrue (e.g. costs of the appeal), so the DIP Facility and Charge have not been terminated. · page: 6 · debtor: Pride Entities · creditor: DIP Agent / DIP Lenders (DIP Facility) · currency: CAD · security: DIP Lenders' Charge (as defined in the Second ARIO)
- secured creditorsnote: Sale of the Hotel Property has not closed. Bank of America has requested an indemnity reserve fund and additional security in connection with discharge of its mortgage; quantum and duration are still being negotiated. Maplewood is a related entity under investigation, not clearly one of the Pride Entities. · page: 9 · debtor: Maplewood Inn, LLC · creditor: Bank of America (mortgagee over the Hotel Property) · currency: USD · security: Mortgage registered against the Hotel Property (408 7th North Street, Liverpool, New York); Bank of America has issued a payoff statement, but the payoff amount is not stated in this report
- closing confirmedscope: the Pompano Property · outcome: completed · effective: 2026-08-28 · date basis: stated; scope: the Kern Property · outcome: completed · effective: 2026-09-18 · date basis: stated; scope: the College Park Property · outcome: not_completed · effective: 2026-07-06 · date basis: stated; scope: the PGL Going Concern Transaction · outcome: completed · effective: 2024-11-07 · date basis: stated · approval order date: 2024-09-26
- insolvency professionalAlex Morrison
- insolvency professionalAlex Morrison
- insolvency professionalSharon S. Hamilton
- insolvency professionalSharon S. Hamilton
- lawyerJenna Willis
- lawyerKelly J. Bourassa
- lawyerKelly Bourassa
- lawyerJenna Willis
- lawyerKelly J. Bourassa
- lawyerKelly Bourassa
- purchaserprice: sealed: false · scope: the sale of the Hotel Property · status: not_completed · name note: purchaser of the Hotel Property, unnamed in provided text · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: the DiMiller Property · status: approved · name note: purchaser of the DiMiller Property, unnamed in provided text · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: the Pompano Property · status: closed · name note: purchaser of the Pompano Property, unnamed in provided text · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: the Kern Property · status: closed · name note: purchaser of the Kern Property, unnamed in provided text · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: the College Park Property · status: not_completed · name note: purchaser of the College Park Property; transaction terminated · structure: real_property · name source: recital · relationship: unstated