Insights
The archive, newest first — posts 401–425 of 719. The 8 most recent are on the front. ← The newest analysis
Filing brief
Stadium Plaza: the builders' liens that stayed ahead of the mortgage
CMLS Financial made discharge of the builders' liens a condition of funding its $13,260,000 mortgage on a 78-unit Edmonton apartment building; the liens stayed on title, two lien claimants won orders directing a sale, the loan matured unpaid on January 1, and on August 25 the Court of King's Bench appointed Grant Thornton receiver and manager with $13,613,618.20 owing to the lender.
Case update
The Manderley: a sealed price list rewritten for Ontario's HST rebate
AlixPartners is selling 70 unsold suites at an 11-storey Toronto condominium under a template agreement Justice Myers required and target prices the court keeps sealed; on September 3 Justice Steele approved a third price schedule after Ontario's enhanced HST rebate, up to $130,000 a buyer on the receiver's figures, left agreement and prices built on different taxes, so that in the receiver's example a sale netting $500,000 fell below a $541,000 floor.
Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp.
Case update
Energera: the Frac Shack fleet goes to auction at a $14.2 million floor
Five months after Justice Feasby chose a lender-driven receivership over the CCAA the Spruce Grove fuelling company asked for, a marketing process that reached 197 parties produced six partial bids and no superior offer, and the court has approved McDougall Auctioneers' $14,185,009 net minimum guarantee for the fleet, with distributions to RBC's syndicate, owed $39,061,058 in principal, to follow.
Case update
Everwood: ten townhomes sold, a DIP repaid, and a proposal resting on Phase 2
In five months under a notice of intention, 1281805 B.C. Ltd. finished and sold the last ten first-phase townhomes at Everwood in Maple Ridge, repaid its $2.4 million Envision DIP on August 26 and now holds about $6.25 million, and it asks for time to September 25 to file a proposal its trustee says is contingent on building and selling Phase 2.
Case update
Jay's Metal: the inventory count is in a notebook nobody can find
Two weeks after BDO was appointed over four Calgary metal fabricators on RBC's $4.9 million claim, the receiver told the Court of King's Bench it had found no computers, no inventory listing, two leased premises it had not been told about, and a landlord who contradicted what the principal had said about them — and asked Justice Marion to compel compliance and award costs against two directors personally.
Outcome brief
John Scotti Leasing: Holand takes the leases, and the estate is valued at nil
Bank of Montreal says an audit of the Pointe-Claire exotic-car lessor found 77 financed vehicles sold with $13,272,327.60 of loans unpaid; five months into Deloitte's receivership, 367 vehicles and their leases have gone to Holand Leasing at a redacted price, the receiver has assigned the company into bankruptcy, and the trustee reports an estate of nil value and no review of pre-bankruptcy transactions.
Filing brief
Leato Enterprise: one tenant left across two Queen Street West buildings
Bank of Montreal, owed $6,019,192.79 on two mixed-use buildings at 507 and 693 Queen Street West, had TDB Restructuring Limited appointed receiver and manager of Leato Enterprise Ltd. on August 24 after Justice Dunphy refused the company's self-represented director and her co-guarantor an adjournment; nine days later the receiver still had no list of creditors.
Outcome brief
San Industries: mills sold, then bankruptcy to release a $1.8 million holdback
Deloitte, running the San Group's CCAA with enhanced powers, sold the Coulson sawmill, two remanufacturing plants and a Langley farm and paid RBC and BDC $21.7 million; on August 19, 2026 it assigned San Industries Ltd. and Coulson Manufacturing 2017 Ltd. into bankruptcy, the step that lets a $1.8 million priority-claims holdback go to the lenders, and the trustee expects nothing for unsecured creditors.
Filing brief
ThoughtWire: the lenders' credit bid and the wage lien ahead of it
ThoughtWire Corp., a Toronto maker of digital-twin software for hospitals, has approval for a four-week sale process led by a stalking horse from a company its two secured lenders formed — a credit bid of about $783,000 in assigned debt, plus up to $300,000 of new interim financing — which the bidder may abandon if more than $100,000 of a $698,518 Crown registration for unpaid wages and vacation pay ranks ahead of its security.
Case update
1075 Nelson: a $91 million letter and a guarantor's defence
A year into Deloitte's receivership of the CURV tower site in Vancouver's West End, the pre-sales are gone, a $1,419,865 permit fee is back and no offer is reported; the receiver asks leave to pay the RBC-led syndicate, owed $92,969,843.93 at October 15, 2025, and answers a guarantor, Brivia Group's Kheng Ly, who says an August 2025 letter of intent at $91 million was let slip.
Case update
5 Star: suits, badges and a bankruptcy to reorder the Crown's claims
A Sherwood Park formal-wear and police-uniform business and the company that owned its building went into a consent receivership for Bank of Montreal in March. By August 19, 2026 the building had a court-approved buyer at a sealed price, the auction had grossed a preliminary $227,165, the receiver's charge had risen to $350,000, and both companies had been adjudged bankrupt on BMO's application, which the bank said would reverse the priority of the Canada Revenue Agency's claims.
Case update
AG Dundas: a broker fee does not make an appeal as of right
Pomerance J.A. has held that neither the April 1 sale process order nor the July 10 order terminating a related-party lease at 1024 Dundas Street East, Mississauga, was appealable as of right under s. 193(c) of the BIA, refused leave, and declared that no s. 195 stay ever arose, with the receiver holding agreements of purchase and sale for both properties and a September 21 approval hearing set for one.
Filing brief
Allen-Vanguard: the goods the receiver may not touch
An Ottawa company whose electronics stop remotely detonated bombs from going off went into receivership on September 1 owing US$80,309,624.64 to lenders affiliated with its own owner — and because its inventory is controlled goods under the Defence Production Act, Justice Black borrowed a device from cannabis receiverships to appoint a receiver deemed never to possess it.
Case update
Anwar & Anwar: four names come off the Mareva, one stays
Two years into the receivership of two H&R Block tax-preparation franchisees, Ernst & Young has settled a $1,212,792.55 transfer-at-undervalue judgment with four of the five individuals held liable for it, and on August 21 the court released those four from the Mareva injunction and the disclosure order; the companies' former general manager stays bound by both.
Anwar & Anwar Consulting Inc. and 102050413 Saskatchewan Inc.
Case update
Ashcroft Homes: the Ravines sale and the 130 parking spaces
Two receivers want September 9 approval to sell Ottawa's connected Ravines seniors' residences to Verve Senior Living, on condition of a declaration that David Choo's companies have no entitlement to the garage where they have claimed 130 spaces; at one building the mortgagees are projected to be repaid in full, while next door Central 1 Credit Union is owed $42,206,830.40, more than its sale will gross.
Case update
Canada Tire: settling for the tires still at sea
Two of Canada Tire's tire suppliers have now settled their fights over winter stock in transit — Unicorn on August 19, and Maxtrek, whose 21 contested containers carry US$755,014.16 in invoices, on September 1 — with the price of the disputed goods paid to the Monitor in trust and the interim lender FGI's objection reserved until the sale process shows whether it still matters.
Case update
Harry Sherman Crowe: who speaks for the co-op, and who pays for it
Three and a half years into the City of Toronto's receivership of a housing co-op on York University land, Justice Kimmel has approved a non-binding member vote on four ways out. A motion in the co-op's name now seeks $29,986.58 of its counsel's fees from the receivership estate; the receiver says that breaches a March settlement.
Outcome brief
Maskeen 177: a commitment letter the lender could change until funding
On September 1, 2026, Justice Coval approved a reverse vesting sale of the partly excavated Victory site in Surrey to 1343239 B.C. Ltd. at a redacted price and gave MCAP Financial Corporation judgment for $16,392,045.12, after the borrowers spent the last week trying to redeem on a $79.25 million commitment letter from a numbered Ontario company that the receiver said did not appear to have any active operations.
Case update
Massive Hash Factory: the closing payment that grew
In June Justice Mah approved the sale of CannMart, ANC and Massive Hash Factory to their $1.5 million interim lender for a credit bid plus cash then estimated at $300,000 and $600,000; that cash estimate has since risen, the applicants want the stay run to November 30 while the buyer, which the debtors' parent Simply Solventless Concentrates Ltd. helped fund, raises it, and the CRA has applied to lift the stay protecting sister company Humble Grow Corp.
Case update
Mirror Trading International: thirteen answers and a clawback process
In April Justice Marion put thirteen questions to Mirror Trading International's receiver before any clawback claims process. On August 24 GlassRatner answered them and asked for one: a single liability ruling, then a Bitcoin calculation for each investor that becomes a judgment if it goes undisputed and unpaid, costed at $700,000 to $1,100,000.
Case update
Scierie St-Michel: the interim loan dropped at the hearing
Scierie St-Michel and its pellet-plant affiliate SSTM Valorisation du bois asked on August 19 for 45 more days and $1,469,500 of new interim financing, then settled at the hearing for 14 days and no new money, to avoid adding priority debt that an eventual proposal would have to repay; on September 1 they came back for 21 days and $284,500 from their related lender, with no charge attached.
Case update
TexCal Energy: the buyers take the back taxes with the wells
Seven sale approval and vesting orders granted on August 13 move TexCal Energy Canada Inc.'s saleable Alberta oil and gas assets to six buyers and Rocky Mountains Energy, each buyer taking on the abandonment and reclamation obligations and every municipal tax owing, arrears included. Behind them, 1,039 wells drew no bid, 435 of them TexCal-licensed and carrying a deemed liability of about $29 million.
Outcome brief
XTM: the DIP lender buys the platform with its loan
No bid arrived in XTM's sale process, so on September 1, 2026 Justice Black approved the sale of the EveryDay Platform to its DIP lender, Pateno Payments Inc., for a credit bid of about $9.5 million and cash for the priority charges and a $150,000 wind-down. Beside the sale sits a non-binding proposal from Pateno and DC Bank to pay merchants part of the shortfall, and a release carve-out the monitor asked for the day of the hearing.
Case update
78 Tisdale: the deposits go to Aviva, the land back to market
Five years into Grant Thornton's receivership of Nascent (Tisdale) Inc. and Nascent (Tisdale) LP, Justice Cavanagh on August 31, 2026 directed $289,800.92 in pre-construction deposits to the deposit surety, Aviva, and approved a Colliers listing that expired without an acceptable offer, as the receiver prepares a renewed sale of a site the Ontario Land Tribunal has approved in principle for 52 townhouses.
Filing brief
Bastian Holdings: the trustee holds the shares, and now the companies
BDO Canada Limited, trustee in the personal bankruptcies of Craig and Kyle Smith of the former Whitewater Concrete group, had itself appointed receiver of eight of their holding and property companies under s. 39 of the Law and Equity Act on August 26, with a first-ranking charge and $500,000 of borrowing power, while the court-ordered sale of a Maple Ridge waterfront plant listed at $25,999,000, which BDC argued the receivership could complicate, stays with its mortgagees.