Insights
The archive, newest first — posts 351–375 of 719. The 8 most recent are on the front. ← The newest analysis
Outcome brief
I4PG Hastings Street: the lender takes the contamination lawsuit
A partly built Burnaby condominium site sold in receivership for $12,000,000 in September 2025. On September 10, 2026, Justice Walker approved Deloitte's last steps — the $282,267 builders' lien holdback paid into court, the developer's 2017 contamination lawsuit assigned to Desjardins as an in-kind distribution — and its discharge, with the first mortgagee's shortfall estimated at approximately $4.7 million.
I4PG Hastings Street Inc., Hastings Street Limited Partnership and 14 Property Group Inc.
Case update
Imperial Tobacco: the 10% tripwire comes out
In the Imperial Tobacco, JTI-Macdonald and Rothmans, Benson & Hedges CCAAs, Justice Kimmel granted the amended claims administrator orders and removed the 10% cost variance limit on Epiq, over an objection from the Attorney General of Quebec that the tobacco companies supported. She adopted the class plaintiffs' answer that there was never an approved budget to exceed, and said the search for a better trigger should have happened before the motion was argued. A point raised at the hearing means the new budget provisions now need their own motion before the Quebec Superior Court.
Imperial Tobacco Canada Limited, JTI-Macdonald Corp., Rothmans, Benson & Hedges Inc
Filing brief
Innomalt: the Bécancour malt house goes to market
Two years after its Bécancour plant came into service, the Québec maltster filed a notice of intention on August 12 with $62.4 million of liabilities against $57.4 million of assets at book value, and is selling the business with Deloitte as trustee: non-binding offers are due September 30, and its time to make a proposal now runs to October 26.
Case update
Moonlight Sonata: the monitor lines up a builder, and a guarantor asks out
Six weeks after Justice Milman gave AlixPartners the powers of the board over a stalled 51-townhome first phase in Burnaby, the monitor has disclaimed the Symphony group's construction management contract, chosen Townline Construction to negotiate a restart and reported that the project's BC Housing builder licence expired on July 31, 2025. The stay now runs to October 9, and the petitioners want 663466 B.C. Ltd., the founder's holding company, out of the CCAA.
Outcome brief
Myra Falls: the mine stayed, and the claims went to Calgary
Two sale processes produced no bidder but the owner's own group. Trafigura took the Vancouver Island mine by reverse vesting order for the amount of its DIP loan plus the cost of the charges and priority payments; the pre-filing claims went to a shell incorporated in Alberta and assigned into bankruptcy the day the deal closed. On September 9, 2026, with $2,214,968 in monitor and counsel fees approved, FTI was released.
Outcome brief
Ryfan: a Yellowknife contractor's receivership reaches its final distribution
Scotiabank, owed $3,440,586.80, put the Yellowknife mechanical and electrical contractor into a consent receivership in September 2025; after an auction, the sale of its building to Custom Electric Ltd. and a $1,100,000 interim payment to the bank, Justice Kuntz on September 9, 2026 directed final payments of $62,496 to Service Canada and $52,000 to Scotiabank and approved MNP Ltd.'s discharge.
Case update
Trinity Automotive: two days, six transfers, and a sale process
Justice Dunphy gave the dealership group's respondents two more days before ruling on the monitor's sale process, and asked for more on the $250,000 retention plan; in between, TD flagged $769,659.95 of pre-filing transfers from three company accounts to the chief financial officer, who told the monitor they were compensation owed to her; the monitor terminated her with cause, and on September 10 the sale process, the BDO mandate and a second amended and restated initial order were signed.
Case update
2301 Benedet: the 'cash only' Esso and five offers in 25 days
A Mississauga Esso whose pump card readers were covered with "cash only" signs in March went into receivership on April 30. BDO now asks the court, on September 25, to approve a sale at a sealed price after 25 days on the market, pay the proceeds to CIBC, owed $4,458,176.91 and facing a shortfall, discharge the receiver, and let it put the company into bankruptcy, because it still has not received the company's books.
Filing brief
25 James Street: an interim receiver for six unfinished townhomes
A $950,000 mortgage loan made in 2019 on six Georgetown townhomes, renewed seven times and $1,077,118.91 outstanding by late August, reached the court at Milton with an inspection report of unguarded elevator shafts in occupied units; on September 9 Justice Mills appointed Goldhar & Associates interim receiver and put the rest of the application over to September 22.
Case update
Asbestos Corporation: the U.S. law firms lose standing a day before the bar date
In the three weeks before the September 10, 2026 claims bar date, the Court of Appeal of Québec refused leave to appeal the asbestos claims adjudication order, a New York bankruptcy judge recognized the bar date orders while listing what claimants had not been told, and Justice Émond held that the U.S. firms acting for more than 115,000 potential claimants cannot be parties in their clients' place.
Case update
Auto Haven: one offer for Talbot Line, signed twice
In its first report, the receiver of 2694272 Ontario Ltd. asks the court to approve a $1,525,000 sale of the company's vacant St. Thomas building to the buyer the company found in June, re-signed on the receiver's own agreement at the same price with no further sales process, while $2,158,551.57 is owed to Caisse Desjardins.
Filing brief
Clarkson Road: the lien claimant who paid out the DIP
A townhouse project in Mississauga spent two years in CCAA, won approval for an insider recapitalization that never found its financing, and then sat for six months with its stay lapsed. On September 8, 2026, Justice Cavanagh appointed PwC as receiver on the application of Kenaidan Contracting — by consent, in an order that takes effect only once Kenaidan funds a $10,549,924 payout of the charges held by the lender that had asked for a different receiver.
Clarkson Road Holdings Inc., Clarkson Road Developments GP Inc. and 2813427 Ontario Inc
Case update
Cleo Energy: the WEPP clawback returns to the court that warned against it
Alvarez & Marsal asks the Court of King's Bench on September 16 to declare that the reverse vesting order of November 14, 2025 did not disentitle Cleo's twelve former employees from the WEPP payments ESDC has since clawed back, and to approve a final $372,509 pro rata split between the Alberta Energy Regulator and five municipalities, with nothing for unsecured creditors.
Case update
Kelsey's and Montana's: the 2025 buyer, at the 2025 price
Seventeen parties approached, four in the data room, no bids by August 20. On September 9 the court approved the $2,300,000 sale of the two Kingston restaurants to the Recipe franchisee that had agreed to buy them before they filed, and the proceeds are bound for the Canada Revenue Agency, whose two proofs of claim total $3,626,089.20.
Case update
SmartONE: the buyer is the company that made the hardware
Bell Canada put its smart-building partner into receivership last December to keep door locks and wall pads working in 14,954 occupied condo units. Nine months, $5,550,000 in receiver's borrowings and a sale process with one qualified bid later, PwC has signed a deal with a consortium of Korean-listed companies that includes SmartONE's sole hardware supplier. The price is sealed; one condition of closing is that Bell take equity in the buyer.
Case update
United Earth: three transfers the receiver wants undone
Thirteen months into the receivership of a Delta, B.C. earthworks contractor, Grant Thornton asks the court to pay out $6,088,458.43 — $5,842,227.82 of it to RBC, owed $12,050,851.67 when the receiver was appointed — and to set aside $689,000 it says left the group for its owner, a company he directs and a company controlled by a former vice-president, including about $310,000 in dealership credit moved the day after the receivership order.
Filing brief
US Air Compressor: a 50/50 deadlock, a receiver and $34,000 in the bank
Justice Myers put TDB Restructuring in charge of US Air Compressor (Canada) Inc. after finding, for the motions only, that a 50% shareholder had prima facie acted oppressively by granting himself security for a contested shareholder loan of about $800,000; the receiver found approximately $34,000 in the accounts, and the applicants now seek a Receiver's Charge and a $250,000 Borrowing Charge ranking ahead of all security.
Outcome brief
253 Queen Street East: a $17.6 million sale and one claim at the bar date
Rosen Goldberg sold a Brampton plaza zoned for three towers for $17,600,000 over the objections of the debtor and its majority equity, paid both mortgagees, and ran a claims process that drew only a $71,425.30 HST claim from CRA; on September 8, 2026, Justice Dunphy put the distribution and discharge motion on a paper track, with objections due by September 25.
Outcome brief
Bold Canine: the buyer took the brand, not the plant
Nineteen parties signed confidentiality agreements and five bid for the Erin, Ontario raw pet food maker, and on September 8 Justice Black approved a sale to Iron Will Raw Inc. of the Bold by Nature brand, its recipes and whatever inventory the buyer accepts at 90% or 60% of book value. The price is sealed until closing. The plant lease, the production equipment, the private-label business and the U.S. subsidiary were all left out, and remain with the receiver.
Case update
Eagle View Heights: two fixed-price budgets to finish 63 homes in Gibsons
Three months into the CCAA of the partnership behind a 63-home Gibsons development, construction has not restarted, and the monitor is choosing between fixed-price budgets from Kindred Construction, the incumbent owed about $3.8 million, and a contractor proposed by the developer's side, with $1.8 million of a $6.75 million interim facility drawn and the stay now running to January 15, 2027.
Outcome brief
Lithion: sold in three lots, and a D&O release the landlord contested
Lithion drew 14 letters of intent, all for assets, and a late going-concern offer that hinged on a deal Québec said it could not conclude. Three buyers took the equipment, batteries, patents and name; the directors and officers were released over the Anjou landlord's objection; the renamed parent assigned into bankruptcy on September 3, 2026.
Outcome brief
Spanish Monarch: four bids for 34 unfinished suites on Whyte Avenue
The renovation of the former Spanish Monarch, a 34-unit apartment building on Edmonton's Whyte Avenue, stopped with no unit completely renovated, Spire Pacific's affidavit says. The receiver, AlixPartners (formerly KSV), drew 35 NDAs and four bids and sold it to ARH Homes at a price filed under seal; the sale closed July 31, 2026.
Case update
Teal Jones: what the Forest Act would not let the order shed
Two days before the August 13 hearing to approve the sale of Tree Farm Licence 46, the Attorney General of British Columbia told the monitor that silviculture and road obligations under s. 79(1) of the Forest Act cannot be expunged by a reverse vesting order. The hearing was adjourned, a notice of constitutional question was filed, and by September 3 the buyer had agreed to assume the very liabilities the order was drafted to leave behind.
Case update
Imperial Tobacco: the variance limit, and the 138% question
Epiq's budget for administering three months of tobacco settlement claims is $19,958,210 — against a framework that put the whole of year two at $33,494,485, and on a claim count that came in 76% below the estimate it was built on. Quebec wants the 10% overrun trigger kept and the motion adjourned; Quebec class counsel say every week of delay is measured in claimants who die first; and the plan administrators back the amendment but refuse to support Epiq's request to have its own conduct approved.
Imperial Tobacco Canada Limited, JTI-Macdonald Corp., Rothmans, Benson & Hedges Inc
Outcome brief
WAM Red-L: half a Nisku property, sold to its partner with no discount
A receiver appointed over nothing but 4,999 limited partnership units sold them, without a public process and with no minority discount, to the other limited partner in a Nisku industrial property; Ernst & Young now proposes $1,621,945.18 to 2740805 Alberta Ltd., assignee of ATB's senior security, and $3,140,899.60 to an ATB-led syndicate owed $65,220,434.62; the discharge application is set for September 16.