Insights
The archive, newest first — posts 276–300 of 719. The 8 most recent are on the front. ← The newest analysis
Case update
CFFI Ventures: no qualifying bid, and a portfolio sold for its own debt
FTI took the Risley family's Nova Scotia holding company to 159 potential buyers and received seven bids, none of which qualified. On September 17 Justice Keith approved the sale of the whole portfolio — algae, skincare, offshore marine, green hydrogen, a powerline contractor and roughly 1,281 pieces of art — to an affiliate of HPS Investment Partners for the assumption of about US$1.12 billion of CFFI's own debt, and extended the stay to December 18, 2026.
Case update
Claire's Canada: 548 creditors, and a blank proxy counts as yes
Justice Cavanagh accepted the plan for filing on September 14, approved the settlement with the American parent's liquidating trust and extended the stay to March 12, 2027 — and the materials dated September 18 tell 548 creditors what they are being asked to approve: approximately 58% to 62% of their proven claims, a proxy due at 5:00 p.m. on November 10, and a proxy returned without instructions counted as a vote in favour.
Case update
Blue Lobster: the court decides whose debt the repayment paid
Associate Chief Justice Jamieson reserved on August 19 and put two questions about marshalling to counsel; on September 10 she held that a pre-filing repayment out of Blue Lobster Capital's bank account was made for Blue Lobster Capital's benefit and must be allocated to its indebtedness. The order fixes no figure — the monitor has until September 25 to verify one, and the applicants say there were two transfers totalling about $378,000, not the single $345,000 the monitor's report described.
Filing brief
Cappadocia: the estate's only asset cannot be located
Royal Bank of Canada obtained a bankruptcy order against the Edmonton importer of Turkish groceries on August 12, 2026 on a $1,420,843.19 default judgment; the sole asset on the statement of affairs is $115,940 of inventory a bailiff seized in August 2025 and could not find when he came back for it in October.
Filing brief
LabTest Certification: a receiver over four companies, judgment against six
National Bank of Canada asked the Supreme Court of British Columbia to appoint Deloitte over a Delta product-testing group; the respondents answered that the arrears were cured or would be by the hearing and that a sale of the business would close by early November, and on September 15 the court appointed the receiver and entered judgment of $17,621,821.65 against all six of them.
Outcome brief
Arkle Motor Freight: RBC's receivership closes on a Brampton condominium unit
RBC demanded $3,265,650.84 from a Caledon trucking company and its real estate holding company in October 2024; seventeen months into a consent receivership, Justice Fowler Byrne approved msi Spergel's sale of the holding company's Brampton unit to 17222190 Canada Inc., sent the balance of the estate to the bank and discharged the receiver on September 18, 2026.
Case update
Clearview: a second claims process for the Greenvalley companies
The receiver's Seventh Report asks the court on September 28 to open a claims process for six Greenvalley and Lyons Creek companies with a January 26, 2027 bar date, to approve a sale of 0 Dingman Drive in London to Copperstone Farms at a sealed price, and to approve $1,554,775 in fees, and it sets out a new $9,900,000 action over Greenvalley Estates' 2024 land sale and its $4,950,000 vendor take-back mortgage.
Outcome brief
Edmonton City Centre: a sealed price for the mall and three towers
Otéra Capital was owed $139,508,037.26 when PwC took possession of downtown Edmonton's 1.4-million-square-foot complex in July 2025; thirteen months, $10.57 million of capital work and four letters of intent later, Justice Mah approved its sale to Westrich Management Ltd., to close November 18, 2026 at a price the court has sealed.
Case update
Everwood: a second Envision DIP, to start Phase 3 and fund a first distribution
On September 18 the court let 1281805 B.C. Ltd. borrow up to $1,483,319 more from Envision Financial, its mortgage lender, on a new super-priority charge, to start excavating the undeveloped part of the Everwood site in Maple Ridge, pay out about $440,000 left on the Phase 1 mortgage and fund a partial payment to unsecured creditors, and directed the proposal trustee to pay Envision's first mortgage from the roughly $6.77 million it holds from the ten Phase 1 sales.
Filing brief
Gilmour's: a receivership deferred so as not to 'spook' a buyer
TD applied in December 2025 to put two Gilmour's meat markets, the company that owns the Harrowsmith store's land and three family holding companies into receivership. After months of adjournments for a sale, Justice MacLeod granted it on August 20 with a deferred start, so as not to "spook" a buyer; it took effect September 8.
Filing brief
Goodfood: $43 million of debentures and no interim financing
The Montréal meal-kit company entered CCAA protection on August 5 with about $43 million owing on two series of convertible debentures, $818,595.74 of secured claims in total and no operating line left to draw, and nine days later the court approved a two-track sale process with binding offers due September 28 and no interim lender in it.
Case update
Jay's Metal: records order substantially unmet, court sets a show-cause hearing
On September 18 Justice Marion declared that the four Jay's Metal companies and their two directors had "substantially failed" to comply with a records order their counsel had agreed to, gave them until 4 p.m. on September 23 to finish it, set a September 24 hearing at which they must show cause why they should not be held in contempt, and let BDO, now also trustee of the bankrupt Jay's Metal Products Ltd., examine both men under oath.
Case update
Olive Branch: the June sale that never closed
The buyer approved in June, affiliated with the general partner's principal, missed three closing dates and forfeited $3,750,000 in deposits; the interim receiver now asks the court to sell the Thornhill kosher supermarket to Kosher Grocers Inc., a party related to the $14.2 million secured lender, for $4,850,000 with no deposit, at a hearing set for October 6.
Filing brief
Vitasave: restock first, then a sale process
With 70–80% of its active catalogue out of stock by its director's account, Burnaby supplement retailer Vitasave obtained a CCAA initial order on September 8, after BMO had petitioned in June for a receiver. On September 18 the stay was extended to November 20 and the interim lender's charge raised to $2.3 million for a restocking plan.
Case update
Western Potash: the debtors' counsel comes off the charge
Ten days after the initial order went unopposed, Western Potash's management asked the Supreme Court of British Columbia to take powers back from the monitor. Justice Stephens instead granted everything FTI sought — the stay to December 18, US$6 million of Appian's money, a $700,000 administration charge with the company's own lawyers removed from it and capped at $100,000, and a sale process the monitor may abandon after Phase 1 if no bid clears the senior debt.
Case update
Baffinland: who decides the sale process
Baffinland's sale process is ready except for one term. The debtors' September 17 motion, returnable September 24, leaves the choice of winning bid with the shareholder-appointed operating committee. They say the DIP lender and the senior secured lenders, citing alleged conflicts over two royalty agreements, want the court-appointed CRO to decide. The day before filing, the committee adopted a mandate that puts independent members in place of any conflicted member. The DIP lender's deadline for a SISP order has moved twice and now falls on September 30.
Outcome brief
CatalX: the claims came after the vote, and the dividend was 0.30%
The Calgary crypto platform's chief executive funded its receivership and, with other directors, a $210,000 proposal; proven claims grew from about $3.2 million at the creditors' meeting to $23.1 million, the trustee wrote off $235,633 of its fees, an objection was dismissed, and on September 17, 2026, Deloitte was discharged after paying creditors 0.30%.
Case update
CB 11 South Woodbridge: the Islington land sells short of the mortgage
Four years after Ernst & Young Inc. took over a vacant 1.91-acre condominium site north of Highway 407, the Commercial List approved its sale on September 17, 2026 at a sealed price the receiver says will not repay the $11,257,179.19 now owed on a $7.5 million first mortgage, with the lender behind that mortgage financing the buyer.
Case update
Chesswood: the investor class action comes back for the bankruptcy stay
Cleared by the CCAA court on July 16, the proposed securities class action against Chesswood Group and its former chief executive and chief financial officer now asks the bankruptcy court, in a motion returnable October 1, to lift the s. 69.3 BIA stay as well, pleading that any recovery is limited to Chesswood's insurance; the bankrupt lists no asset of realizable value against $84,222,005.13 in claims.
Case update
Darwynn: the stay lifts on everyone but the company
Seven months after the majority shareholder's numbered company put Darwynn Ltd. into the CCAA and then credit-bid for its business at a $7.5 million purchase price, Justice Myers has lifted the stay over the shareholder litigation as against everyone except the company, the monitor and any trustee — converting two oppression applications into actions, with statements of claim due November 1.
Filing brief
Felix & Paul: the moon cameras, sold before the first meeting
The Montreal virtual-reality studio assigned itself into bankruptcy on September 10 with about US$34.5 million in book liabilities, after a sale process had drawn no binding offer. A week later a registrar let Deloitte sell its lunar camera technology and the Space Explorers franchise to a company formed by former officers and employees, ahead of the first meeting of creditors — a sale the trustee said could not wait, with two of its cameras due on Moon launches in November and December.
Case update
Hudson's Bay: the executive pension trusts and the November 2005 line
The Monitor's Eighteenth Report backs a consensual order, returnable September 25, that would confine the $58,415,496.71 HBC Main RCA to executive pension benefits earned up to a November 10, 2005 change in control, leaving 74 defined-benefit participants with no claim on it, and reserve a second, $454,661.96 trust for the two executives it was settled for.
Outcome brief
Mitchell Press: the paper goes to Dollco at book value
On September 17, 2026 Justice Wilkinson approved the sale of Mitchell Press's customer list to Dollco and, on an affidavit sworn two days earlier, doubled the Burnaby printer's ceiling on asset sales without court approval to $100,000 a transaction and $1,000,000 overall so that Dollco could buy about $475,000 of paper at 100% of book value; the forecast attached to MNP's first report has the last operating receipts arriving in late October.
Outcome brief
Nuage Foam: the Delta plant sells for $4.41 million
Crowe MacKay found the foam-mattress plant at 6455 64th Street without most of its equipment or its electrical system when it took possession. Ten months, three list prices and seven written offers later, Justice Weatherill approved a sale to 1586115 B.C. Ltd. for $4,410,000 on September 17, 2026, $260,000 above the price the receiver had asked the court to approve.
Case update
Pride Group: the securitization parties cannot be made to pay
In 2026 ONSC 4700, Justice Cavanagh held on August 14 that s. 11.01(b) of the CCAA bars any order requiring Pride Group's securitization financiers to contribute to the costs of the wind-down, following the B.C. Court of Appeal's New Skeena. The bank syndicate and BMO, who say more than $85 million has been spent, moved for leave to appeal on September 4.