Auberge du Lac Sacacomie: from 3,782 parties, three offers and a sealed price

Schedule A to the order Justice Alain Trudel signed on October 19, 2026 lists what 9394-8834 Québec inc. is buying at Saint-Alexis-des-Monts. It runs from the three lots the resort stands on to the furniture, the telephone system and the signs; the bookings for stays and events after closing; the resort's rights in its liquor permits, so far as they can be assigned; its trademarks, registered or not, and the name "Auberge du Lac Sacacomie"; and its food and drink, unopened, the alcohol included. The machinery and rolling stock are in an attached inventory dated July 2026, which includes twenty Bombardier snowmobiles, Kawasaki side-by-sides, a snowmobile sled for carrying children, two Case tractors, pickups and trailers, two 1973 Steyr Pinzgauers, and two vehicles the list calls army vehicles, a 1991 Puch and a Hagglunds, per the Vesting and Approval Order, Oct. 19, 2026, para. 14, Scheds. A, A.1.

The order approves the sale of substantially all of the assets of Auberge du Lac Sacacomie inc., which filed a notice of intention to make a proposal on June 18 with KPMG Inc. as trustee, per the Vesting and Approval Order, Oct. 19, 2026, paras. 4, 8 and the Fourth Trustee's Report, Oct. 15, 2026, paras. 1, 10, 29. When KPMG issues its certificate, the assets vest in the buyer free and clear of the claims, charges and hypothecs on them, and the security registered against the land is struck, per the Vesting and Approval Order, Oct. 19, 2026, paras. 11, 14. The price is in the buyer's offer, whose unredacted copy is Exhibit R-7A, and the order keeps that offer and Annex B to KPMG's report sealed until the earlier of the closing or a further order of the court, per the Vesting and Approval Order, Oct. 19, 2026, para. 26 and the Application for a Vesting and Approval Order, Oct. 13, 2026, paras. 37, 40(d).

The sale came out of the second of two stages recommended by the resort's broker, Colliers International (Québec) inc. In the first, a buyer identified before the filing submitted a letter of intent on June 26, which the resort accepted the same day and which was reported here on July 7; on July 14 that buyer confirmed in writing that it was withdrawing it, per the Fourth Trustee's Report, Oct. 15, 2026, paras. 23(a), 24 and the Application for a Vesting and Approval Order, Oct. 13, 2026, para. 25(a).

Four letters, three offers

The second stage was the two-phase sale and investment solicitation process run by Colliers, which opened on July 23 with a teaser and a form of confidentiality agreement sent to 3,782 potentially interested parties. More than fifty of them signed a confidentiality agreement, received the confidential information memorandum and were given access to the data room, and some visited the Auberge, per the Fourth Trustee's Report, Oct. 15, 2026, paras. 23(b), 27(b)–(c).

On August 27, the deadline for non-binding letters of intent, four arrived, and all four qualified for the second phase. A fifth came in on September 7. KPMG reports that it was not qualified, for two reasons: "(i) it was submitted several days after the deadline had expired; and (ii) the value offered was well below the other qualified LOIs" [translation], per the Fourth Trustee's Report, Oct. 15, 2026, para. 27(d). On September 2 the secured creditors Banque de développement du Canada, Caisse Desjardins de l'Ouest de la Mauricie and Développement économique Canada pour les régions du Québec (DEC) received a summary of the letters prepared by Colliers. The interim lender was not among them: the trustee reports that it "was excluded from all discussion and transmission of information concerning the results of the SISP, for its entire duration, because of the participation in the SISP of a company related to it" [translation], per the Fourth Trustee's Report, Oct. 15, 2026, para. 27(f).

The qualified bidders were told on September 3, which opened the second phase. Some asked for more time to file binding offers, the debtor's application says, and KPMG reports that on September 21, on Colliers' recommendation and with its own and the debtor's agreement, the deadline moved by a day, from September 22 to September 23, per the Application for a Vesting and Approval Order, Oct. 13, 2026, para. 34 and the Fourth Trustee's Report, Oct. 15, 2026, para. 27(g), (i). Three binding offers came in on September 23, all of them, KPMG says, for the Auberge's continued operation, per the Fourth Trustee's Report, Oct. 15, 2026, para. 27(j).

KPMG's Third Report, dated September 30, said no final decision had yet been taken on the offers and that the date for confirming the selected offer had moved from September 29 to October 1, per the Third Trustee's Report, Sept. 30, 2026, para. 25(f)–(g). On October 2 the court extended the stay to October 30, per the Fourth Trustee's Report, Oct. 15, 2026, para. 9.

After the binding offers came in, the application says, the debtor, under the trustee's supervision, opened discussions with representatives of one of the bidders, 9394-8834 Québec inc., which the application describes as "a company related to Immeuble Homans inc." [translation], the interim lender, to clarify the terms of its offer, per the Application for a Vesting and Approval Order, Oct. 13, 2026, para. 36. On October 8, the trustee reports, after negotiations under its supervision, the debtor and the buyer reached agreement and a final offer was accepted; the bidders whose offers were not retained were told the next day, per the Fourth Trustee's Report, Oct. 15, 2026, para. 27(l). The application says the offers were weighed on, among other things, the consideration proposed, the closing conditions and the likelihood of closing, and that "among the binding purchase offers received, the Purchase Offer submitted by the Buyer presented the highest proposed consideration" [translation], per the Application for a Vesting and Approval Order, Oct. 13, 2026, para. 45.

What the buyer takes, and what stays behind

KPMG's Fourth Report sets out what the offer covers: the debtor's land and buildings; its equipment, snowmobiles and tools among it, and its hotel and resort supplies; its trademarks and other intellectual property; and the hotel's operations, including the employees' contracts of employment and certain supplier contracts. The excluded assets are mainly the debtor's cash and receivables, per the Fourth Trustee's Report, Oct. 15, 2026, paras. 29–30. In the application's summary of the offer, the buyer assumes all obligations under the collective agreement and the assumed contracts, and all obligations under outstanding gift certificates and customers' prepayments, subject to a closing adjustment. The representations and warranties are limited, which the application calls the usual practice in a court-supervised sale under the BIA, and the assets are sold "without legal warranty, at the Buyer's risk" [translation], per the Application for a Vesting and Approval Order, Oct. 13, 2026, para. 40(b), (e).