Ontario · CCAA
Third Report of the Monitor - 2026.07.07 - Part 1 of 2
Court officer report · 7 July 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 filing8 verified
- cash on handnote: Reported cash balance of the Applicant; approximately $349,000 higher than forecast. · as at: 2026-07-03 · amount: 463000 · currency: CAD · qualifier: approximately
- closing confirmedscope: Unit 1403 · outcome: completed · date basis: unstated · approval order date: 2026-06-26
- operational summaryThe Applicant continues operating in the normal course under CCAA protection: marketing and selling its unsold condominium units (one sale closed, one more expected in July), addressing Tarion warranty and remaining construction work, and funding operations via the Surety DIP Facility, while the Monitor continues reviewing the use of about $19 million of excess sale proceeds and seeks expanded powers.
- purchaserprice: sealed: false · scope: Unit 1403 · status: closed · name note: purchaser of Unit 1403, unnamed in the text provided · structure: real_property · name source: recital · relationship: unstated; price: note: stated only to exceed the court-approved Target Prices · sealed: false · scope: two (2) Unsold Units sold under the Unit Sale Process · status: approved · name note: purchasers of two units under the Unit Sale Process, unnamed; one closed, one expected to close in July · structure: real_property · name source: recital · relationship: unstated; price: note: Reinstatement Agreement provides for a lower price than the original Unit 105 Agreement; purchase price exceeds the Target Price for Unit 105; Unit 105 Agreement sealing is sought · sealed: false · scope: Unit 105 · status: proposed · name note: the Unit 105 Purchasers, referred to by defined term only in the text provided · structure: real_property · name source: recital · relationship: unstated · nominee or assignee: another party to whom the Unit 105 Purchasers intend to assign the Unit 105 PA
- report date7 July 2026
- report noThird Report
- sale advisorEXP Realty Inc.
- sale outcometext: Unit Sale Process under way for 55 Unsold Units; Unit 1403 sale closed, two further unit sales entered into (one closed, one expected to close in July), and Unit 105 transaction before the Court for approval · scope: parcel · status: process_approved