Ontario · CCAA
Supplement to the Third Report of the Monitor - 2026.07.09
Court officer report · 9 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 filing6 verified
- cash on handnote: Reflects the Applicant's RBC bank account balance as at July 3, 2026 plus the amount held in the Monitor's trust account related to closing of suite 1403. Forecast ending cash at January 15, 2027 is $38,265. · as at: 2026-07-03 · amount: 727551 · currency: CAD · qualifier: opening cash balance for the Updated Cash Flow Forecast; excludes approximately $160,000 in released cash collateral held in the Monitor's trust account
- operational summaryThe Applicant remains in operation under CCAA protection, with four employees, and is completing the Project and selling Unsold Units. It lacks sufficient liquidity to continue through the proposed Extended Stay Period without further Surety DIP Facility borrowings, which together with unit sale proceeds are projected to fund operations through January 15, 2027.
- professional feesnote: This is a forecast disbursement, not fees incurred to date; no separate figure for the Monitor's own fees is stated. Report does not say whether HST is included. · party: Applicant's legal counsel, the Monitor, the Monitor's legal counsel, and the Surety DIP Lender's legal counsel (combined forecast) · amount: 1135311 · period: July 4, 2026 to January 15, 2027 (forecast) · currency: CAD
- report date9 July 2026
- report noSupplement to the Third Report
- sale outcometext: Unsold condominium units are being sold under the Unit Sale Process Order, with net proceeds held in the Monitor's trust account and released to the Applicant per the Updated Cash Flow Forecast; some Unsold Units have no executed agreement of purchase and sale and are assumed to sell at the historical run-rate. · scope: parcel · status: process_approved