Nova Scotia · NOI
Third Report of the Proposal Trustee dated August 31, 2026
Court officer report · 31 August 2026
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What we verified from this filing15 verified
- secured creditorsnote: Facility limit, not outstanding balance; actual DIP drawn per variance report was $150,000 as of cash flow variance period ending August 21, 2026 · page: 3 · debtor: Comfort Smart Homes Incorporated · creditor: Libra Finance Company Inc. (DIP Lender) · currency: CAD · security: DIP Lender's Charge against Company's Property, securing DIP Financing up to a maximum facility limit of $350,000 pursuant to DIP Agreement dated July 13, 2026
- secured creditorsnote: DISCHARGED - paid in full from sale proceeds of the two properties; no longer an outstanding secured claim as of Third Report · page: 14 · as of: First Report date (as reported) · amount: 1498256 · debtor: Comfort Smart Homes Incorporated · creditor: Bank of Montreal (BMO) · currency: CAD · security: First ranking mortgage security on 80 King Street, Truro and 88 Kaulback Street, Truro
- secured creditorsnote: Referenced in Revised Financials balance sheets (Appendix C); balance shown as $0 in FY2024-2026 statements though $610,413.32 in FY2023 statement (page 77) · page: 78 · debtor: Comfort Smart Homes Incorporated · creditor: Peakhill Capital Inc. · currency: CAD · security: Mortgage - Cassandra property (per Revised Financials, mortgage balance nil as at April 30, 2024-2026)
- financial positionnote: Most recent fiscal year-end balance sheet in Revised Financials (Appendix C); prior years also presented (FY2023: assets $6,782,596.51/liabilities $6,527,588.31; FY2024: assets $5,724,614.58/liabilities $5,774,928.34; FY2025: assets $5,713,227.39/liabilities $5,534,941.95) · page: 86 · as at: 2026-04-30 · basis: unaudited internal financial statements (Revised Financials); Company advised it has never received externally prepared financial statements in the form of audit, review or compilation engagement; transactions likely do not conform with Accounting Standards for Private Enterprises in Canada · scope: Comfort Smart Homes Incorporated (entity level) · currency: CAD · total assets: 5651122.43 · total liabilities: 5498572.92
- secured creditorsnote: Net amount required for discharge per Payout Statement dated July 31, 2026; includes CMHC prepayment penalty; per diem interest of $100.90 accrues thereafter; enforceability of penalty not yet resolved by Proposal Trustee · page: 88 · as of: 2026-07-31 · amount: 1153802.93 · debtor: Comfort Smart Homes Incorporated · creditor: Peakhill Capital Inc. · currency: CAD · security: Mortgage - Minerva Street properties (1, 5 & 11 Minerva, Truro, NS), Loan Number 1081259; includes outstanding principal $865,675.03, interest $3,127.90, holdback $20,000.00, prepayment penalty $250,000.00, admin fee $2,000.00, legal costs/admin fee $12,000.00, discharge fee $1,000.00
- secured creditorsnote: Net amount required for discharge per Payout Statement dated July 31, 2026; includes CMHC prepayment penalty; per diem interest of $332.47 accrues thereafter; enforceability of penalty not yet resolved by Proposal Trustee · page: 89 · as of: 2026-07-31 · amount: 3702792.35 · debtor: Comfort Smart Homes Incorporated · creditor: Peakhill Capital Inc. · currency: CAD · security: Mortgage - Anita Crescent properties (65, 66 Anita Crescent, Truro, NS), Loan Number 1081257; includes outstanding principal $2,852,485.78, interest $10,306.57, holdback $20,000.00, prepayment penalty $805,000.00, admin fee $2,000.00, legal costs/admin fee $12,000.00, discharge fee $1,000.00
- disbursementsnote: Actual cumulative cash disbursements for weeks 1-11, versus forecast of $(62,388) · since: June 8, 2026 (Filing Date) · amount: 38640 · currency: CAD
- operational summaryComfort continues to operate its five multi-unit residential rental properties in Truro/Truro Heights, NS under a third-party property manager while the Proposal Trustee administers a court-approved SISP and negotiates a stalking horse agreement with Ridgeway Management Inc.
- purchaserRidgeway Management Inc.
- receipts cumulativenote: Actual cumulative cash receipts for weeks 1-11 of the cash flow forecast variance report, versus forecast of $73,878 · since: June 8, 2026 (Filing Date) · amount: 73925 · currency: CAD
- recovery outcomeentries: basis: actual · quote: Management informed the Proposal Trustee that debts owed to BMO were paid in full from the sale proceeds of real-estate properties located at 80 King Street, Truro and 88 Kaulback Street, Truro. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: Bank of Montreal · claims amount: 1498256 · creditor name: Bank of Montreal · interim final: unstated · related party: false · claims qualifier: listed · table missing:
- report date31 August 2026
- report noThird Report
- sale outcometext: Proposal Trustee's motion seeks approval of the Stalking Horse Agreement, with SISP milestones proposed to be amended · scope: whole_business · status: pending_approval
- stalking horseRidgeway Management Inc. (3800000)