Insights
The archive, newest first — posts 26–50 of 245. The 8 most recent are on the front. ← The newest analysis
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
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.
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
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.
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.
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.
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 the default was a filing date
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 security registration filed nineteen days too early by somebody else.
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.