Insights
The archive, newest first — posts 476–500 of 719. The 8 most recent are on the front. ← The newest analysis
Filing brief
WSP Place: two years of forbearance, then a receiver
On August 14 an Alberta judge appointed AlixPartners receiver of WSP Place, a 12-storey Edmonton office tower. MCAP, servicer of the tower's $38 million 2018 mortgage loan, puts the debt at $44,643,306.18 and says the owners let lapse an offer it understands topped the appraised value; their principal says MCAP has run the building since 2024.
Case update
Hedge Road: the fight over the form of the order
MarshallZehr Group, owed $42.9 million on a stalled Lake Simcoe subdivision, brought a creditor-led CCAA application seeking a monitor with the power to make every Major Decision the co-owners used to make unanimously. Nobody opposes the filing — not even Sam Reisman, the director, subordinated lender and 12.8% mortgage participant who answered it. Six days of duelling affidavits, two aide memoires and an exchange of letters filed as a motion record later, what Justice Dunphy decides on August 24 is what the initial order says.
Case update
U.S. Steel Canada: twelve years to a surplus
The Monitor's sixtieth report arrives as the trusts built to fund Stelco's pension deficit ask to distribute more than $150 million of surplus to roughly 11,400 pensioners. Nobody opposed. Justice Conway adjourned the motion anyway — if the trust documents require written consent to their amendment, no-position letters will not do — and set October 1 for the return.
Case update
ANS 1993: three daycares closed on August 15
Barred on July 2 from running the ANS 1993 daycares, the interim receiver reported on August 4 that continuing to operate the three centres the debtors ran was not commercially viable. Justice Lew converted the file to a receivership on August 12 and added two related companies; the receiver closed all three centres on August 15.
Case update
Assembly Corp: a lender's receivership on the owners' terms
PaceZero wanted a skinny realization order over Assembly Corp. and two sister companies; on August 11 Justice Black granted the receivership on the project owners' stabilization terms and declined, for now, to give Thunder Woman Healing Lodge a unilateral right to terminate its contract. Assembly was deemed bankrupt the next day, with a $22,629,045.80 deficiency.
Outcome brief
Endo Networks: OSL bought the bank's loan, and the creditors voted 18 to 0
OSL Retail Services Inc. paid Scotiabank $150,000 for its loan and security and put up a $300,000 proposal fund as part of a deal to acquire 75% of the Oakville sales and marketing agency; on August 21, 2026, Justice Koehnen approved a proposal his endorsement says leaves about $225,000 for unsecured creditors after trustee fees, with a holdback for President's Choice Bank's contingent claim.
Case update
Pelican International: $53 million to the lenders, a wind-down still to plan
Seventeen months into the creditor-led CCAA of the Québec kayak maker, both businesses are sold — Pelican and Confluence for $42,000,000 to a buyer that includes former executives, the 85% stake in GSI Outdoors to GSI's founders — the syndicate has been paid $35.5 million and $17.5 million, and FTI, holding $4.3 million, asks for a stay to September 30 to plan the end.
Filing brief
Western Potash: the lender writes the first affidavit
More than $240 million went into the Milestone potash mine southeast of Regina against a Phase I budget of $149.45 million, and the project still cannot produce a tonne. On August 21, WPC (Jersey) Limited — the Appian vehicle owed not less than CDN$85 million, plus US$16.8 million of unpaid interest — petitioned its own borrower into the CCAA in Vancouver and came away with a stay to August 31, a US$1 million opening draw on a US$6 million DIP, and a monitor holding powers the debtors usually keep.
Filing brief
Alberta West Transport: 45 pieces of equipment outside the receivership
Royal Bank of Canada, owed $1,724,950.77 by three related Grande Prairie companies, obtained a consent receivership order on August 20 appointing Grant Thornton Limited — with 45 pieces of logging and hauling equipment, which RBC released to Dynamic Capital Equipment Finance in 2024 and understands Dynamic Capital is enforcing against, left out of the property and out of the stay.
Case update
AlphaBow: the monitor's questions wait for the Court of Appeal
On August 14 the Court of Appeal gave AlphaBow's former director permission to appeal the orders letting the monitor compel his records and examine him under oath while police investigate, and stayed those powers as against him. The monitor now asks for a stay to December 31, with about $1,312,000 in trust and the company's liability insurance due to lapse on September 1.
Outcome brief
Indo-Canadian: $13.5 million in trust was not cash in hand
Justice Black refused the Indo-Canadian companies' late bid to redeem the $10.4 million debt a J Dass Group company had bought from RBC, finding a redacted refinancing commitment and a $13.5 million trust letter short of "cash in hand," and approved the sale of their Halton Hills truck yard to a credit bid on that same debt.
2309136 Ontario Inc. and 2738400 Ontario Inc. (“Indo-Canadian”)
Filing brief
Island Fishermen's: the co-operative stops buying from its owners
A Lamèque seafood co-operative incorporated in 1940 was granted CCAA protection on August 12, 2026 owing $7,890,000 to the Business Development Bank of Canada, US$14,145,000 to the broker holding its inventory, and $4,669,000 to the 91 fishermen who own it. Its forecast projects that it will not process a pound of lobster, snow crab or rock crab this fall, and that its only receipts will be $20,000 a week from the fish market at the plant door.
Filing brief
Mortise Nova: National Bank's CCAA to finish a stalled Surrey building
National Bank of Canada, owed $48,482,696.24, put the stalled 93-unit second phase of Surrey's Mortise Nova strata project into a combined CCAA and receivership on May 25, with Alvarez & Marsal as monitor and receiver. On August 20, with Intergulf engaged as construction manager, the court extended the stay to December 4 and raised interim borrowing authority to $9 million.
Outcome brief
Pitter Patter Daycare: the sale, and a release the CRA said it would oppose
A Conception Bay South daycare operator that filed an NOI to refinance RBC has had its two owned centres and an after-school program sold to BelleAn Properties Inc. at a price sealed until closing, under an August 20 order that also releases its directors, a release the CRA, holding a $1,342,869.69 proof of claim, had told the service list two days earlier it would oppose.
Filing brief
Quality Pipefitting: source deductions first, then $165,000 over 18 quarters
A Mississauga company that plumbs car washes, with $951,759.81 in debts — $464,157.47 of it owed to the Canada Revenue Agency — proposes to pay its unremitted source deductions within six months and then $165,000 to its unsecured creditors over 18 quarters, a recovery its trustee estimates at approximately 17% against 7% in a bankruptcy.
Case update
Regina Windows and Exteriors: contempt over a 2022 Ram TRX
MNP Ltd., receiver and trustee of the Regina renovation company, has applied to have its director Steven Rodway declared in civil contempt and imprisoned for 90 days or until he hands over a 2022 Dodge Ram TRX that a judge found was the company's, appraised at $85,000 with about $53,000 owing on it.
Case update
Superport Marine: $165,326 above the administration charge
Grant Thornton's Ninth Report on the Port Hawkesbury marine operator sends $436,730 to the Canada Revenue Agency, $817,390 and later receipts to the Bank of Montreal and nothing to Maynbridge Capital, on the assumption that Justice John Bodurtha will lift the administration charge from $250,000 to $415,326 over BMO's objection — a question briefed for a November 2025 hearing and still awaiting a decision when the monitor's counsel wrote to him on August 20, 2026.
Outcome brief
ASK Associates: the Pickering building is sold and bankruptcy is authorized
EY sold 720 Sheppard Avenue in Pickering, the office building that secured a tax-and-accounting practice's bank loans, and received $3,007,946 at the June 26 closing. On August 19, 2026, Justice Conway authorized distributions to National Bank, which expects a material shortfall, and an assignment of either or both companies into bankruptcy.
Canadian Tax & Financial Services Inc. operating as ASK Associates, and 2691855 Ontario Inc.
Case update
Blanshard Block: the Montrose Apartments and an $8.8 million offer
MNP Ltd., receiver of the partnership that bought three downtown Victoria lots in 2018 on a $10,000,000 Timbercreek facility to build some 68,000 square feet including a potential hotel, asks Justice Coval on August 25 to approve an $8,800,000 sale to Banff Investments Ltd. and to seal the two competing offers and Colliers' valuation.
Outcome brief
Halo Exploration: the creditor trust that reaches one creditor
A reverse vesting order preserved $142 million of tax pools, spared everyone an application to the Alberta Energy Regulator, and left the wells with a solvent owner. Seven months after the receiver was appointed, it asks the court to pay its senior lender a final $885,000 — leaving that lender about $300,000 short — and reports that nothing at all reaches the $19.9 million of unsecured debt.
Outcome brief
Wilson Heights: the Millwick Drive receivership ends in a refinancing
Hillmount Capital put the owners of four North York industrial and commercial properties into receivership on June 19 over a first-mortgage debt the receiver accepts at $15,076,786.83; two months on, after a first report describing a contest with the debtors' principals over the rent, a $25 million Laminar loan and a $15 million Firm Capital loan in a related receivership were lined up to repay Hillmount in both files, and on August 19 Justice Conway signed Zeifmans' discharge order.
Wilson Heights Investment Ltd., 2276918 Ontario Inc. and Pauline Centre Corp.
Case update
Auberge du Lac Sacacomie: after the buyer withdrew, a teaser to 3,782 parties
The prospective buyer whose letter of intent the resort accepted on June 26 confirmed in writing on July 14 that it was withdrawing it. Its $1 million interim facility still funds the resort, Colliers has sent a teaser to 3,782 parties with letters of intent due August 27, and the proposal period runs to October 2.
Case update
CanadaBis: the licence is the asset, so the company is what gets sold
Excise duty ran at 41 to 47 per cent of gross revenue and the CRA wanted $5,732,843 in fourteen days. Four months later the sale process produced one bid, from a company whose director sits on the debtor's own board — and because a cannabis licence cannot be assigned, the deal is structured so the licence never moves.
Outcome brief
Carriage Hills: the perpetual timeshare, dissolved at the third asking
Two Horseshoe Valley timeshare associations whose owners owed annual charges in perpetuity went into a court administration in 2020, sold both resorts to Sunray Group of Hotels for $60,000,000 in 2021 and distributed $56,040,420.86. On August 18, 2026, having declined the dissolution order in February 2024 and adjourned it in May, Justice Conway dissolved them under s. 267 of Ontario's Corporations Act.
Case update
Christenson: the labour board waits for the court
Justice J.J. Gill's June 25 order under s. 11.1(3) of the CCAA stayed AUPE's labour-board proceedings concerning Arch Services, the Christenson companies and their principal. AUPE filed a new certification application at Park Avenue on August 5; the Board suspended its process the next day, and the monitor's application, returnable August 25, asks whether the stay reaches it.