Quebec · Receivership (court-appointed)
Finstar - Second report of the Receiver (in French)
Court officer report · 15 May 2026 · French
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: The report states the Debtors' liquidity would be insufficient to cover costs over the projection period and that they lack sufficient liquidity for immediate needs; no cash balance is stated. Projections show a negative ending cash balance of (1 000) thousand at 31 Oct 2026 after professional fees (a forecast, not a position). · currency: CAD
- operational summaryThe Debtors' real-estate rental portfolio continues to be managed by a retained property manager and four employees, with conservatory measures in place and a sale and investment solicitation process proposed; there is no construction or development activity and rents are being centralized by the Receiver.
- professional feesnote: Stated as approximately $475,000 before taxes (fees and disbursements); the Receiver seeks an increase of the Administration Charge to $1,000,000. · party: Séquestre (Raymond Chabot inc.) and its counsel · amount: 475000 · period: to 8 May 2026 · currency: CAD
- report date15 May 2026
- report noDeuxième Rapport du Séquestre
- sale outcometext: The Receiver seeks court approval of a single-phase sale and investment solicitation process (PSIV) for all the Debtors' assets, with a bid deadline of July 16, 2026 and a target closing of September 15, 2026; no offer has yet been selected. · scope: whole_business · status: process_approved