Insights
The archive, newest first — posts 226–250 of 719. The 8 most recent are on the front. ← The newest analysis
Filing brief
TRS Components: the stalking horse held on, for $1.4 million more
Companies controlled by Celina Capital, a shareholder of TRS's parent, outlasted an arm's-length bidder over 11 auction rounds, lifting their stalking-horse price from $19.2 million to $20.6 million; the receiver asks on October 2 to approve the sale and pay BMO, with nothing expected for the vendor lenders.
Filing brief
333 6 Avenue NE: ten Calgary suites and two lenders after the same rents
Justice Mah appointed Ernst & Young Inc. receiver of 2404875 Alberta Ltd., owner of ten CMHC-financed rental suites in Calgary, on the application of first mortgagee CMLS Financial, owed about $1.89 million — CMLS says the owner stopped paying in July 2025 and let Domain Mortgage Corp. register a $2.5 million second mortgage without its consent, and Domain had already gone to court for the rents; a September 21 amendment set the receiver's charge at $100,000.
Outcome brief
Enerkem: a $175 million credit bid, and the biorefinery left in Edmonton
Enerkem's three noteholders took the Montreal company in September 2025 by credit-bidding $175 million of note principal under a reverse vesting order. Its retired Edmonton biorefinery stayed behind with the monitor, under an Alberta enforcement order since June 5, 2026; on September 24 the monitor asked to extend the stay to November 27.
Outcome brief
Innovative Fitness: three NDAs, no LOI, and the lender's $2 million credit bid
Lifespan Holdings took an assignment of the Innovative Fitness loan on June 12 and had FTI appointed receiver on July 16. A canvass of 36 parties drew three NDAs and no letter of intent, and on September 24 the court approved Lifespan's $2.0 million credit bid for the franchisor's shares, the brand's trademarks and the franchise agreements.
Wrkout Holdings Ltd., 1145643 B.C. Ltd. and Innovative Fitness Canada Ltd.
Filing brief
Kooshie Cushions of Canada: a receiver's tender plan for 339 Willow Street
Deloitte, receiver of a Truro building owned by Kooshie Cushions of Canada, asks the Nova Scotia court, in a motion set for October 2, to approve a tender with offers due about 60 days after it begins and to raise its borrowing limit from $50,000 to $500,000, in part to pay about $325,000 in property taxes.
Outcome brief
Ongo Logistics: the unit sold without a listing, for $975,000
The receiver sold the courier business's Mississauga unit without a listing, at a price it said beat its appraisal and three brokers' estimates; now disclosed as $975,000, the proceeds go to RBC, owed about $1.14 million, on a discharge motion heard September 25.
Case update
Scierie St-Michel: final offers rejected, 45 days sought for an unsolicited one
The final offers in the sale process for Scierie St-Michel and its pellet-plant affiliate SSTM Valorisation du bois were formally rejected on September 15 and the deposit returned; the debtors now ask for 45 more days, to November 9, to negotiate an unsolicited offer with Desjardins and Investissement Québec, and for more interim financing from SSTM International, which the trustee puts at $507,600 and $192,800 against forecast needs of $122,600 and $42,800, with no charge attached.
Case update
Sirona Pharma: Sinclair Range says the former CRO's share ended with his work
Sinclair Range, the firm that supplied Sirona Pharma's chief restructuring officers, says the first CRO's company is owed $1,670.84 of the $24,542.72 it claims for work to January 29, nothing of $114,450 billed after Sinclair Range ended their agreement that night, and nothing of the $75,000 success fee on a $1,500,000 Sapphire facility arranged in the days that followed — and it asks for its own $21,235.30.
Case update
Starke Capital: ATB says the Plaza 14 caveat was vested off in December
ATB Financial's answer to Plaza 14's condominium corporation is that its 2016 mortgage ranks first by order of registration, that s. 39.2(11) of the Condominium Property Act addresses only vesting, and that the caveat went off title under the December 5, 2025 sale order the corporation did not oppose; failing all that, it wants the $239,717.62 claim's legal fees taxed, its particulars checked by the receiver and a share of the receivership's costs charged against it.
Filing brief
West Horizon: a receivership adjourned in August, then granted by consent
Royal Bank of Canada sought a receiver over a Smithers road and bridge contractor owing it about $4 million. Justice Coval adjourned the petition on August 25, citing the risk to the company's ministry contracts; on September 18 BDO Canada was appointed by consent, and its September 24 statement lists $10.68 million owed to creditors.
Filing brief
AdvEn: the interim loan held in trust pending appeal
US$550,000 advanced by 2841034 Alberta Ltd. on August 26 is sitting with the proposal trustee, unreleased, while AdvEn asks the Court of Appeal of Alberta to strike the secured creditors' appeal for want of leave and 281 and SPDI ask for a declaration that none is needed; the trustee's September 18 forecast has the companies' cash turning negative the week of September 25, and AdvEn has asked for a stay extension to November 17.
Filing brief
Anderson Square: withdrawing a proposal after the buyers' judgment fell
With the pre-sale buyers' $13,093,900 judgment overturned, the developer of Richmond's Prima says the only creditors who voted for its amended proposal no longer hold a claim, calls itself solvent, and asks Justice Stephens on September 28 to deem its NOI and both proposals withdrawn.
Case update
Beacon House: payroll by hand, and the Crown's full count
Four weeks inside three Saskatoon care homes, MNP Ltd. reports 43 residents, 28 staff, no accounting software, and source deduction arrears the CRA now puts at $393,454.39, more than double the $182,220 first reported, which left out 2026; TD asks the court on September 25 to extend the interim receivership 60 days and let MNP run the business and pay the bank if cash allows.
Outcome brief
Brock & Visser: the funeral home sold, then a bankruptcy on Roynat's motion
MNP sold the Woodstock funeral home, name and pre-need contracts included, then assigned the company into bankruptcy before any distribution, a step it told the court would leave CRA's $202,571.50 HST deemed trust unsecured; the trustee now expects a shortfall for BNS and nothing for unsecured creditors.
Brock & Visser Funeral Home Burial & Cremation Services Ltd.
Outcome brief
Iovate: the directors are released and the holdback goes to the lenders
On September 22, 2026 Justice Dietrich released the CAD$1,310,000 directors' charge and the directors and officers themselves without a claims process, applying the Lydian factors, and let the monitor pay the charge holdback and most of a US$1,900,000 wind-down reserve to Royal Bank of Canada for a syndicate still owed more than US$26.2 million.
Filing brief
Collège LaSalle: back in class, as Quebec signals an appeal
Collège LaSalle asks the Superior Court to extend its CCAA stay to October 30 and to grant a $1.5 million directors' charge, the same day it learned the Attorney General of Quebec intends to seek leave to appeal the September 3 order that funds its year; the monitor recommends the relief, and its eight-week forecast ends with $253,000 in the bank.
Outcome brief
Miquelon Meter: a receivership order on hold, an auction and a bankruptcy
An Edmonton flow-meter fabricator founded in 2003 consented to a receivership order that took effect only when RBC filed a certificate, which the bank did after the company's own sale drew one non-binding letter of intent. The court approved an auction, and on September 21, 2026, a registrar adjudged the company bankrupt on RBC's application.
Precedent note
Reversing the Crown's GST/HST trust
Outside insolvency, the Crown's trust for unremitted GST/HST can rank ahead of a lender's security; a bankruptcy or a CCAA ends that priority. Seven 2026 files show lenders choosing their route, and four show the trust that survives both, for payroll source deductions.
Moatfield Drive, Whitewater Concrete Ltd., Whitewater Developments Ltd., and 145 Golden Drive Ltd., R & N Turna Holdings Incorporated and Turna’s Petroleum Incorporated +5 more
Filing brief
Robert Land Academy: Toronto takes the claims process, and a December 10 date
The West Lincoln boarding school's bankruptcy moves from Hamilton to the Commercial List for one purpose — a hearing on December 10, 2026 of the trustee's protocol for valuing more than 165 contingent abuse claims asserted at over $500 million, none proven in court, with insurers asking for more time and claimants saying they are running out of it.
Case update
25 James Street: a locked elevator shaft and a receiver who can sell
In its first week at the six Georgetown townhomes, Goldhar & Associates locked off an exposed elevator shaft, shut the door to a balcony with no railing and sealed a gas meter; on September 22 Justice Mills made it receiver with power to sell, raised its borrowing limit from $150,000 to $400,000, and added the guarantors' Oakville house to the properties the order leaves out.
Case update
1680 Brimley: the liens get a bar date, the CMHC question waits
On September 18 Justice Dietrich gave the five construction lien claimants against 1680 Brimley Road, who had registered $4,166,612.41 of liens, until October 31 to prove their claims, and approved the receiver's activities except its handling of two CMHC insurance certificates for $376.7 million and $446.3 million, which the developer says the receiver let lapse. The two orders signed that day do not deal with the sale process, the $24.9 million Hansalex claim or the servers.
Case update
Cannabist: two deeds in lieu, and a stay sought to March 2027
Since the August 18 sale approvals, the Ohio sale has closed, East West Bank has taken the group's New York and New Jersey properties by deed in full satisfaction of their mortgages, and US$26,603,510.88 has been released toward a partial redemption of the senior notes; FTI's Sixth Report supports a stay to March 31, 2027 and higher limits on sales of non-material assets, with that power extended to the subsidiaries, which a potential purchaser says it needs in order to close.
The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc.
Outcome brief
Choice Wholesale Meats: 2877 Dufferin sells, the discharge waits
Three months after TD put a Toronto meat wholesaler and its building into receivership over $1,142,059.91 of debt, Justice Dietrich approved the only offer for 2877 Dufferin Street, sealed its price and let the proceeds run to TD, which expects a shortfall — but declined to discharge Albert Gelman Inc. before the sale closes and the money is paid out.
Outcome brief
Duchesne et Fils: the bidder bought the loans and took the plant in payment
After a sale process drew no bid its lenders would accept, a company related to Groupe Zohar bought out RBC, then BDC's roughly $29 million loan, and on June 5 took the Yamachiche plant by dation en paiement; the bankrupt estate holds about $290,000, reserved for wage priority claims, and the trustee expects nothing for unsecured creditors.
Filing brief
Gumpert: a bare-bones order and four days to fund the restructuring
A 76-year-old maker of pie fillings owing Farm Credit Canada $12.9 million and RBC $4.9 million got a bare-bones CCAA order on September 18 and four days to settle its lenders' dispute; the fuller order of September 22 ranks FCC's $1.25 million DIP ahead of other security, with bi-weekly reporting to RBC.