Ontario · Receivership (court-appointed)
Seventh Report of the Receiver
Court officer report · 17 July 2026
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What we verified from this filing9 verified
- cash on handnote: Net cash on hand across the consolidated receipts and disbursements · as at: 2026-07-03 · amount: 129100000 · currency: CAD · qualifier: approximately
- closing confirmedscope: the Devonshire Real Property · outcome: completed · effective: 2026-06-05 · purchaser: Circle Retail Properties LP · date basis: stated · effective time: 4:41PM ET · approval order date: 2026-05-25; scope: the Calgary Real Property · outcome: not_completed · purchaser: Astra Real Estate Corp. · date basis: unstated · approval order date: 2026-05-25
- operational summaryThe Receiver has sold or is finalizing sales of the JV Entities' remaining real properties (Ottawa, Devonshire, Vancouver completed; Calgary pending), leaving a remaining Montreal property under marketing and collection of JV Rent Charge amounts as the main ongoing tasks before winding down the receivership.
- purchaser2921979 Ontario Inc.; Circle Retail Properties LP; Onni Development Capital Corp.; Astra Real Estate Corp.
- recovery outcomeentries: basis: estimated · quote: Each of these amounts exceeds the respective recoverable net proceeds, resulting in shortfalls ranging from an estimated 48% to 93% at present. · pct of: unstated · outcome: shortfall · pct low: 48 · pct high: 93 · class key: secured · stated by: receiver · class label: Secured Lenders (Ottawa Senior Secured Lender, Devonshire Senior Mortgage Holder, Vancouver Senior Secured Lender, Calgary Senior Secured Lender) · interim final: unstated · claims qualifier: unstated · stated on: 2026-07-17 · table missing: The purpose of this Seventh Report of the Receiver (the ' Seventh Report ') is to provide the Court with information, and the Receiver's comments and recommendations, regarding the Receiver's motion seeking an Order (the ' Distribution Order ') approving the following:
- report date17 July 2026
- report noSeventh Report
- sale advisorCBRE Limited
- sale outcometext: sale of four real property assets, three completed and one pending · scope: parcel · status: closed