Ontario · Receivership (court-appointed)
First Report of the Trustee SF Square GP Corp June 19, 2025
Court officer report · 19 June 2025
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
- secured creditorsnote: Repaid in full from sale proceeds at closing (May 9, 2025), prior to the Bankruptcy Date (May 30, 2025); reported as 'Glengarry Farm Finance Repayment' in the Statement of Funds waterfall — security discharged pre-filing · page: 7 · as of: 2025-05-09 · amount: 15107238 · debtor: SF Square LP (by its general partner, SF Square GP Corp.) · creditor: Glengarry Farm Finance · currency: CAD · security: Mortgage on the Property (W London / Sherwood Forest Square development)
- secured creditorsnote: Amount per Trustee's summary table ('Amount Invested'); no Schedule A of advances/repayments included in reviewed pages. Sherwood, not Square GP/LP, guarantees and secures this debt · page: 8 · amount: 400000 · debtor: RHH Rental Properties Ltd. · creditor: 2796068 Ontario Inc. (Andrew Long Company) · currency: CAD · security: General Security Agreement (GSA) granted by Sherwood Forest Square Ltd. (guarantor); Promissory Note dated May 16, 2022
- secured creditorsnote: Assumed by Purchaser per Agreement of Purchase and Sale at closing; balance includes principal, April/May 2025 interest, late charges and outstanding fees to May 9, 2025 (per diem $5,994.70) — debt transferred to purchaser prior to Bankruptcy Date · page: 34 · as of: 2025-05-09 · amount: 54597590.83 · debtor: SF Square LP · creditor: Kingsett (mortgage registered in favour of Computershare Trust Company of Canada, Instrument No. ER1576923) · currency: CAD · security: Mortgage on the Property (W London)
- secured creditorsnote: Assumed by Purchaser (OEF The W L.P.) per Agreement of Purchase and Sale at closing; balance includes principal, April/May 2025 interest, NSF fee, and late charges to May 9, 2025 (per diem $798.74) — debt transferred to purchaser prior to Bankruptcy Date · page: 34 · as of: 2025-05-09 · amount: 11584037.02 · debtor: SF Square LP · creditor: MCAP (mortgage registered in favour of Computershare Trust Company of Canada, Instrument No. ER1413581) · currency: CAD · security: Mortgage on the Property (W London)
- secured creditorsnote: Trustee's summary table states $200,000 'Amount Invested'; per Schedule A to the Promissory Note, fully repaid — outstanding balance $0 as of Feb 15, 2024. Sherwood, not Square GP/LP, guarantees and secures this debt · page: 45 · as of: 2024-02-15 · amount: 0 · debtor: RHH Rental Properties Ltd. · creditor: Andrew Long · currency: CAD · security: General Security Agreement (GSA) granted by Sherwood Forest Square Ltd. (guarantor of RHH's obligations); Promissory Note dated June 1, 2022
- secured creditorsnote: Summary table states $1,000,000 invested; per Schedule A, outstanding balance $600,000 as of Dec 23, 2024. Sherwood, not Square GP/LP, guarantees and secures this debt · page: 48 · as of: 2024-12-23 · amount: 600000 · debtor: RHH Rental Properties Ltd. · creditor: Kent McDonell · currency: CAD · security: General Security Agreement (GSA) granted by Sherwood Forest Square Ltd. (guarantor); Promissory Note dated May 26, 2022
- secured creditorsnote: Summary table states $2,000,000 invested; per Schedule A, outstanding balance $1,750,000 as of Dec 23, 2024. Sherwood, not Square GP/LP, guarantees and secures this debt · page: 51 · as of: 2024-12-23 · amount: 1750000 · debtor: RHH Rental Properties Ltd. · creditor: Level 3 Capital Management Inc. (Promissory Note dated December 1, 2022) · currency: CAD · security: General Security Agreement (GSA) granted by Sherwood Forest Square Ltd. (guarantor)
- secured creditorsnote: Matches Trustee's summary table amount; no repayments recorded on Schedule A. Sherwood, not Square GP/LP, guarantees and secures this debt · page: 54 · as of: 2023-07-05 · amount: 800000 · debtor: RHH Rental Properties Ltd. · creditor: Level 3 Capital Management Inc. (Promissory Note dated July 5, 2023) · currency: CAD · security: General Security Agreement (GSA) granted by Sherwood Forest Square Ltd. (guarantor)