Insights
The archive, newest first — posts 376–400 of 719. The 8 most recent are on the front. ← The newest analysis
Case update
Waterloo Innovation Network: a data centre unsold, and no report ordered
On September 8, Justice W.D. Black declined to order the receiver of 176 Columbia Street West, the Waterloo office and data centre securing a debt the lender put at $32,193,111.56, to report on why the building has not sold; the receiver, which refunded HIVE Digital $4,036,742.49 in deposit and interest after HIVE declined to waive the condition in its 2025 purchase agreement, told the court a firm deal may be in hand soon and its terms are confidential.
Case update
Bennette Chase: forty interested parties and no sale
A four-pump Esso on 34 Avenue SE in Calgary has been closed since the receiver took it over in April. Forty parties signed non-disclosure agreements, four thousand people looked at it online, and nobody bought it. On September 8 the receiver asked to relist $405,000 lower and to raise its own charge from $300,000 to $500,000 — against professional fees of $248,467 and $60,200 left in the account.
Case update
Premium Tire: what it cost Bridgestone to keep its tires out
Royal Bank's receivership application against a Toronto tire distributor was adjourned a week so the bank could settle with Bridgestone Canada, which holds prior-ranking security over the inventory it supplied. The order Justice Dunphy signed on September 8 carves that inventory out of the receiver's appointment — and makes Bridgestone pay the receiver's cost of supervising its removal, plus a pro rata share of any deemed-trust claim against the estate.
Case update
OKR: who gets to use what the monitor compels
In July the court gave PwC power to examine anyone under oath about the OKR funds, and took away the right to refuse an answer on the ground that it might establish civil liability. Two defendants have now asked that the implied undertaking rule apply to what they say — because the monitor's litigation counsel is also the firm suing them.
Case update
Trinity Automotive: $16.9 million of cars, and who knew when
Bank of Montreal put fifteen car-dealership companies into a creditor-driven CCAA in August on evidence that 264 vehicles had been sold without the floorplan advances being repaid. Five weeks on, the monitor puts the figure at $16.9 million and says the former principal cannot account for it; the debtors' counsel answers with a six-year list of BMO's own audit findings, and says the monitor is exercising the powers of a receiver.
Filing brief
Kidoodle: the lenders are the directors, and nothing was missed but a signature
A Calgary company streaming children's television into 160 territories was put before the Court of King's Bench on September 3 by lenders who advanced US$2 million in June for US$4 million of principal — and who are, on the applicant's own sworn evidence, all directly or indirectly directors of the company. The default was not a missed payment. It was a subordination agreement never signed for the security the company had granted its third-lien noteholders, a group that includes four of the five lenders.
Outcome brief
Port Whitby: the charge that went ahead of the bank
A Richmond Hill Chrysler dealership lost its OMVIC registration, went bankrupt, and was sold in two December sales — 23 new cars back to the manufacturer and everything else at auction. On September 3 Justice Steele discharged the receiver. The unsecured creditors get nothing, TD will not be repaid in full, and the professionals from the failed proposal are $22,144.21 short of the charge that was moved ahead of the bank to pay them.
Case update
353 St. Paul: eight offers for an empty Brantford medical building
Bricks Damiani Inc. took possession of 2607315 Ontario Inc.'s medical office building in Brantford with three tenants left and no access to the company's books and records; on September 17 it asks the court to approve a sale of the now-empty building to Victoria Professional Centre Inc. at a sealed price, clear of a $1,000,000 second charge and a $169,500 construction lien it says is invalid, with Tandia owed $2,619,391 and the receiver expecting a shortfall.
Case update
Barakaa: ten Ajax townhouses and a sealed price floor
The last unsold property in the Barakaa receivership is a ten-unit townhouse condominium in Ajax that needed a transformer costing more than $500,000 and completion work now estimated at $965,000; on September 18 the receiver asks to sell the units against sealed target and floor prices, without further motions, with each vesting order signed by the registrar.
Barakaa Developer Inc., Lerrato Inc. and 2145499 Ontario Inc.
Case update
Claire's Canada: 62 cents on the plan, 12 in a bankruptcy
The American parent's liquidating trust filed a $72.59 million claim against the Canadian company that once ran 103 stores. On September 3 it settled for $32.15 million, gave up the whole promissory note, and agreed to take nothing from the first $1,374,600 distributed — which is the difference between ordinary creditors recovering 62 cents on the dollar and recovering 12.
Filing brief
Comfort Smart Homes: $3.8 million, or the mortgages it has no right to prepay
A Truro landlord whose indirect owners are embroiled in a shareholder dispute filed a notice of intention on June 8; on September 4, the proposal trustee reports, the court approved Ridgeway Management Inc.'s stalking-horse bid for its five apartment buildings, at $3,800,000 in cash or an assumption of Peakhill Capital's CMHC-insured mortgages, with a $50,000 break fee and a $3,950,000 floor for rival bids due September 28.
Case update
EBF Group: one trust clause, two answers
MNP's entitlement report finds no enforceable debt appears owed to the first-registered Paatz 2016 Family Trust, holds that Fred Hageman's Holdings' Summit participation fails the test for a trust, and treats JNR enforcement proceeds as likely its beneficial property. Brian Vyner and 1968328 Ontario disputed the JNR finding on September 4.
Filing brief
Sea Smoke: a busy restaurant, and the ventures its trustee says it paid for
The numbered company behind Sea Smoke, a seafood restaurant on the Halifax waterfront with some 69 employees, filed a notice of intention on August 12 after, its trustee reports, funding its restaurant group's other ventures; the Canada Revenue Agency has since claimed $1,954,179.46, including $1,132,654.61 under s. 60(1.1) of the BIA, and the company asks for a stay to October 26.
Outcome brief
Shanty Bay Esso: twenty-one months and three prices
A gas station on Highway 11 north of Barrie went dark in September 2024, its insurance lapsed and its doors shut. It took the receiver two listings, three price cuts, seven offers and one buyer who could not close before Justice Steele approved a sale on September 3 — at a price the court sealed, and one that will not repay the credit union in full.
Case update
Shawn Oaks: $61.5 million on Oak Street, and nothing past the first mortgage
After fifteen months without an offer and an adjourned $62.5 million credit bid from a Trez Capital affiliate, Alvarez & Marsal's Second Report asks the court to approve BBG Management Inc.'s $61.5 million reverse vesting deal for 72 rented town homes on Vancouver's Oak Street and to pay all of it to Trez, leaving no funds for Peterson Investment Group's $28,781,874.09 second-mortgage judgment.
Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd.
Outcome brief
3367 Highway 115: the gas station goes back to its owner and a new lender
Royal Bank of Canada put a receiver into a Clarington gas station over a $1,693,466.72 debt; seventeen months later the receiver reported that the cost of remediating the soil exceeded the property's value, RBC declined to fund it and sold its mortgage, and on September 3, 2026 Justice Steele discharged Grant Thornton with $130,000 in receiver's borrowings unpaid and the property never marketed.
Filing brief
Beacon House: an interim receiver over the care homes' money, on consent
The Toronto-Dominion Bank, owed $4,037,299.24, alleges the director running three Saskatoon personal care homes diverted their operating funds to his personal account and left the jurisdiction; on August 26 MNP Ltd. was appointed interim receiver under s. 47 of the BIA, on the companies' consent and without admission, over their bank accounts, receivables, residents' monthly rent and records, and expressly not their real property.
Outcome brief
Commcache: four price cuts and 18 months for the last building
On September 3, 2026, Justice Steele approved the sale of Commcache's 18-unit Windsor building to 581 Cataraqui Inc., the last of five Ontario apartment buildings National Bank put into receivership in 2024; the price is sealed, the receiver may pay the bank an interim $1,120,000 on a Windsor loan of $3,235,747 that it expects to fall short on, and BDO holds $600,000 back against a CRA HST claim on the earlier Sudbury sales.
Case update
Elykwood: a food bank for one Aldergrove lot, a numbered company for the other
PwC asks the B.C. Supreme Court on September 9 to sell the custom-lumber maker's two Old Yale Road properties, one to the Langley Food Bank Society, at redacted prices it wants sealed, after sixteen months on the market and listing prices that fell from $5,400,000 to $3,250,000; Roynat, owed $6,993,919.32 when it applied, faces what the receiver calls a significant deficiency.
1385954 B.C. Ltd., Elykwood Forest Products Ltd. and 1337073 B.C Ltd
Case update
Habitations Luma: the permits first, then the buyer
Fourteen months into its CCAA, the Lac Tremblant condominium developer has signed a share purchase for its 29 unsold units, structured for a reverse vesting order and signed two days after Mont-Tremblant issued the permits the buyer had made a condition; 47 claims totalling $109,971,927 await analysis, and on September 3 the court vested one unit sold under a 2021 offer.
9304-7033 Québec Inc. (doing business as “Habitations Luma”) and 9251-7465 Québec Inc.
Case update
Horizen Developments: 129 units never built, 10.7% for creditors
The London, Ontario site at 520 Sarnia Road was sold in receivership and the mortgage lender, ADJ Holdings, received $3,169,460. BDO's Second Report now proposes $1,550,927.65 across $14,548,394.59 of proven unsecured claims, a 10.7% distribution, after disallowing the unregistered security behind six investor guarantee claims, and asks to be discharged.
Case update
Jameson Broadway & Birch: Granville Street lenders ask out of the stay
The Portage Lenders, owed $23,740,728.23 on a second mortgage over Granville Street properties, want the CCAA stay lifted from James Holdings Ltd., the Broadway and Birch tower's 75% owner; their application has a full day on September 8, and the latest affidavits dispute whether anyone told them, before the filing, that the stay would not reach them.
Jameson Broadway & Birch Limited Partnership and its related entities
Filing brief
Collège LaSalle: the order the monitor would not endorse
On September 3 the Superior Court ordered the Government of Quebec to pay Collège LaSalle the full $31.8 million of its 2026-2027 initial allocation with no withholding, deduction or set-off against the $47 million the province says the college owes it — relief the monitor declined to recommend, having told the court it would build a fresh multi-million-dollar debt the college has not shown it can repay.
Outcome brief
Leon and Ram: a tax split with Yorkton, and the last $171,971.02 to BMO
Bank of Montreal's receivership of two Yorkton manufacturers of more than 50 years collected $6,450,180.28, paid CRA, Service Canada and the pension plan ahead of the bank, sold Leon's plant on a proceeds split with the city, and on September 3, 2026 sent the last $171,971.02 to a lender still owed approximately $16,833,889.
Case update
Lumina Eclipse: the 39 presale contracts a CCAA stay could not revive
On August 25, 2026, Justice Masuhara held that 39 presale agreements in a Burnaby condominium tower, about $30.5 million in purchase prices, had become unenforceable under s. 23 of REDMA before KingSett's CCAA filing, and that the stay orders could not make them enforceable again. On September 3 he stripped the priority from approximately $2.5 million in unpaid pre-filing sales commissions that KingSett says it had already funded.