Auberge du Lac Sacacomie: after the buyer withdrew, a teaser to 3,782 parties

On July 14, 2026, the prospective buyer whose letter of intent the Auberge du Lac Sacacomie had accepted on June 26, the day it was submitted, confirmed in writing that it was withdrawing the letter and would "no longer participate in the sale process in the context of Stage 1" [translation]. KPMG Inc., trustee under the resort's notice of intention, told the secured creditors Banque de développement du Canada, Caisse Desjardins de l'Ouest de la Mauricie and the Agence de développement économique du Canada pour les régions du Québec the same day, per the Second Trustee's Report, Aug. 14, 2026, paras. 18(a), 19. Neither that report nor the debtor's application of August 12 gives a reason. The application says the debtor, the trustee and Colliers were informed that day that the buyer "had decided not to proceed with" the letter [translation], per the Application for Extension, Aug. 12, 2026, para. 12.

The Stage 1 buyer was Immeuble Homans inc., as the trustee's First Report identifies it, and its June 26 letter was the deal reported here on July 7, per the First Trustee's Report, July 2, 2026, para. 31(a). KPMG's Second Report and an order of August 18 carry the case forward: the second stage of Colliers' plan under way, eight weeks of cash to August 8 that ran $189,387 ahead of forecast while individual bookings ran $418,530 behind, and a second extension.

The same company offered the financing

Homans' letter of intent included an offer of interim financing so that the debtor could pursue the sale and keep operating in the meantime. The debtor and the trustee solicited two other potential interim lenders; one could not make an offer in time, and the other offered terms the trustee called "markedly less favourable" [translation] on interest rate, third-party guarantees and file fees. The debtor obtained Homans' $1,000,000 term sheet, at 5% a year, per the First Trustee's Report, July 2, 2026, paras. 32(h), 40–41.

Justice Alain Trudel's rectified order of July 6 authorizes the Auberge to borrow, on a non-revolving basis, up to $1,000,000 in principal from Immeuble Homans inc. and/or an affiliate or company it forms or designates. The advance is to be paid to the trustee in trust, or to the debtor on the trustee's instructions, and is secured by an interim lender's charge of up to $1,200,000 ranking behind a $200,000 administration charge for KPMG, the debtor's counsel and any counsel to the trustee. The order provides that the lender's rights cannot be compromised or otherwise limited by a proposal, a plan or a later order in the proceeding without its prior written consent, and that it is to be treated as an unaffected creditor, per the Rectified Order, July 6, 2026, paras. 11–12, 15–16, 25–26. It also records a separate hypothec from Corporation de Développement du Lac Sacacomie inc., the related company that owns land adjacent to the resort, over two lots, and declares that the order itself creates no charge on that company's property, per the Rectified Order, July 6, 2026, paras. 19–21.

The Auberge received a first advance of $500,000 on July 6. On July 9 the lender remitted the balance, $469,991, to KPMG to hold in its trust account for the debtor's use on the facility's terms; the $30,009 difference, the trustee reports, represents the lender's professional fees and the cost of putting the facility in place, as the interim financing agreement provides. On July 31, at the debtor's request, the trustee released a second tranche of $250,000. The third, $219,991 plus accrued interest, remained available at the date of the report, and the debtor expects to draw it before the new deadline, per the Second Trustee's Report, Aug. 14, 2026, paras. 14–16. The lender's legal fees, $29k, were paid when the facility was disbursed rather than on repayment as forecast, which, the trustee says, is why its principal stood at $779,359 on August 8 against $750,000 projected, per the Second Trustee's Report, Aug. 14, 2026, para. 26 (table), para. 29.

The second stage

After July 14 the debtor, with the trustee's agreement, instructed Colliers to launch the solicitation without delay, per the Application for Extension, Aug. 12, 2026, para. 13. KPMG, Colliers International (Québec) Inc. and the debtor worked out its stages and timetable, and the trustee kept BDC, Desjardins and DEC informed. The sale and investment solicitation process was launched on July 23, when Colliers sent an investment profile and a form of confidentiality agreement to 3,782 potentially interested parties: about 3,762 from its internal solicitation list and 20 that had come to the trustee on their own, per the Second Trustee's Report, Aug. 14, 2026, paras. 20, 23.

By August 12, the trustee reports, "a significant number" of interested buyers [translation] had signed, received the confidential information memorandum and been given access to the data room, and some had visited the Auberge. The memorandum and a summary of the interested buyers are Annexes E and F to the report, both filed under seal, per the Second Trustee's Report, Aug. 14, 2026, paras. 24–25. The debtor's application of the same date puts the number of signed confidentiality agreements at fifty and says in-person visits were arranged with several potential buyers, per the Application for Extension, Aug. 12, 2026, para. 15.

The process letter, dated July 22 and signed for Colliers, names Colliers, KPMG and the debtor as the SISP team. It invites letters of intent for all, substantially all or part of the business, or for "an investment in, restructuring, recapitalization, refinancing or other form of reorganization of the Debtor or its business." A letter qualifies only if, among other things, it shows the bidder can fund and close within the process's timeframe, discloses every entity or person "sponsoring, participating in or benefiting from" the transaction, and does "not provide for any break fee or expense reimbursement." Letters are due by 2:00 p.m. on August 27, and Phase 2 bidders will have to pay a deposit with their binding offers, per the Second Trustee's Report, Aug. 14, 2026, Annex B. Any transaction will require the court's approval and an approval and vesting order, per the Second Trustee's Report, Aug. 14, 2026, para. 22(e).