Insights
The archive, newest first — posts 501–525 of 719. The 8 most recent are on the front. ← The newest analysis
Case update
Joriki: a motion to make the recall insurers pay
With its plants sold and the proceeds paid to its senior lenders, Joriki's most significant remaining asset is its insurance claim over the 2024 Silk and Great Value listeria recall — coverage it says HDI confirmed in February and has not paid — and Justice Conway has set November 3 to hear its motion to compel HDI to pay the $5,000,000 policy limit and Intact $1,024,300.26.
Outcome brief
MechCan: four companies for sale, a general manager bidding for each
Seven MechCan Group companies filed notices of intention this spring, with National Bank of Canada owed more than $9 million. In the sales of Harmony, J.D. Swallow, Comfort Zone and B.R.'s, the general manager bid, directly or through a company; at Harmony and B.R.'s those bids won, and independent bidders won the other two.
Outcome brief
Oak + Fort: four cents on the dollar and out of the CCAA
The Vancouver retailer closed eight of its 42 stores and offered unsecured creditors 4% of their accepted claims, backed by about $4 million of new preferred equity and a Hilco facility of at least $7 million. All 27 creditors who voted approved. The monitor's final certificate was filed August 18, 2026.
Outcome brief
Sheppard West: the sale approved after the buyer said he couldn't close
A vacant lot on Sheppard Avenue West sat through two years of marketing, six offers and two extended closing dates. Days before the approval motion, a principal of the purchaser texted the receiver to say his health would not let the company complete, and asked for the deposit back. On August 17, Justice Dunphy approved the sale anyway — and sealed the price for six months because of it.
Case update
Baiocchi: the only issue was the date
A receiver asked the court to put the principal's spouse and her daughter out of a 196-acre property in Orono by August 31. She had told Justice Myers in June that she expected the ninety days a private sale would give her. On August 17, Justice Conway settled on September 28 — and the order changed its name on the way to being signed.
Case update
Cannabist: the orders go in, and the consent question goes away
A day after the founder of Cannabist's Maryland business swore that his companies could not consent to the assignment of their agreements, Justice Conway approved both sale transactions — $35 million for five states to Vireo, $13.75 million for Maryland to Free State Botanicals — and recorded that there was no opposition. The contracts were taken out of the argument, not out of the deal.
The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc.
Case update
Craig Developments: a sale to the lender's venture with the former principal
A year of marketing a stalled townhouse and apartment site in Huntsville drew one letter of intent, so the receiver agreed on July 23 to sell it to Sabrina Park Inc., which it understands to be a joint venture of first mortgagee First Source, owed $9,032,535.95 as of May 31, and the debtor's former principal. The price is sealed, and on the eve of the August 18 approval motion the receiver filed its correspondence with the holder of the $2,000,000 second mortgage to answer a guarantor's affidavit.
Case update
Crystallex: 180 shareholder claims and the equity question
Crystallex's supplemental claims process drew a US$516,792,589.91 claim from the noteholders' trustee and 180 shareholder claims seeking up to US$1.5 billion, 123 of them on one statement alleging bad faith, fraud and oppression. The company's fourteen-year cash statement was also corrected, by US$11,073,800.
Case update
Cannabist: the consent that cannot be given
The Cannabist group asks the Ontario court on August 18 to approve the sale of its Maryland cannabis business. Among the assets going across is a management agreement and a purchase option over a dispensary — and the man who founded the business Cannabist bought in 2021 swore an affidavit the day before saying his companies cannot consent, because Maryland's regulator may now treat the structure itself as unlawful.
The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc.
Outcome brief
Industries RAD: after Rocky Mountain's sale, $75,000 and a bankruptcy
The Beauce company behind Rocky Mountain bicycles and Faucher Industries sold both divisions under the CCAA in spring 2025, spent fifteen months collecting the deferred price, duty drawbacks and sales tax refunds, and assigned itself into bankruptcy on July 29, 2026 with $75,000 in cash against $34.55 million of listed liabilities, Roynat still owed $6.94 million.
Case update
Morgrove Holsteins: quota and cattle, sold as the claims require
BDO's first report counts about 251 cattle and 91.82 kg/day of milk quota at the Brantford dairy, and a bank debt of $1,152,866. On August 14 the court approved selling 40 to 60 kg/day on the Dairy Farmers of Ontario exchange, and cattle with it, and a claims process with an October 13 bar date.
Filing brief
FireSong: the professionals, not the mortgagees, ask for a receiver
The FireSong group's proposals failed in 2023 and its principals were deemed bankrupt. The estates had no money, three mortgagees filed enforcement actions and then did nothing, and five finished luxury cabins on a Saskatchewan lake sat under the control of the bankrupts. Their own former counsel, their proposal trustee and the trustee's counsel — owed $491,030.30, more than the $400,000 their first-ranking charge secures — applied for a receiver.
Filing brief
Marina Commodities: thirty-six million short
CIBC advanced about US$50 million on a revolving asset-backed facility to a Mississauga trading house that sells lentils and pulses into more than twenty countries. On August 14 it told the Commercial List it had recently found that the borrowing base certificates included inventory and receivables that did not exist, and that the loan was undercollateralized by at least US$36 million. The debtors consented to a receiver while reserving the right to dispute the facts.
Filing brief
Metro Infrastructure: a receivership order with an August 5 trigger
On June 19, Justice Moser signed Royal Bank of Canada's consent receivership order over a Brampton communications-network contractor with 98 employees and two affiliates, and held it back: it took effect only if the bank was not paid in full, with proof the CRA accounts were current, by August 5. KPMG's appointment took effect August 6.
Outcome brief
Bitcoin Depot: one offer for BitAccess, and a liquidation plan recognized
Bitcoin Depot's Chapter 11 ran in Houston, and Ontario's part was recognition. On July 22, 2026, Justice Myers granted Bitcoin Bancorp a vesting order for BitAccess Inc.'s assets, sold on the only offer received; on August 13, Justice Black recognized the plan of liquidation and provided for the Canadian proceeding to end.
Filing brief
Chinook Farms: the source deductions kept growing
A dairy-equipment supplier to farms across three provinces was insolvent on its own financial statements, had stopped filing the reports its lender needed, and owed the CRA $640,877 in unremitted employee source deductions as at August 2025. By July 2026 that figure had reached $872,393.53 and was rising with every payroll. On August 12 Justice Macklin appointed a receiver.
Outcome brief
Groupe Buko: two clinics with no buyer at filing, six offers in May
A Québec dental group built by two dentists filed under the CCAA on April 29, 2026 with sales of five clinics already agreed and no buyer for two others. A 16-day process in May drew six offers for those two; on August 13 the court signed the order that will end the case.
Outcome brief
Toys “R” Us Canada: the brand's price paid out, a trustee's remedies kept
The brand sold for $10 million in cash and a $17 million one-year note, paid over Allied World's objection to the Putman group's secured IP creditor, and on August 13, 2026 Justice Dietrich granted the order ending the CCAA, releasing the monitor and authorizing a bankruptcy, with nothing in the proceeding for vendors and service providers owed approximately $150 million.
Case update
Assembly Corp: the liens come off title
Four Toronto affordable and supportive housing projects — owned by the Elizabeth Fry Society, Thunder Woman Healing Lodge, the YMCA and WoodGreen, and between 50% and 95% built — stopped when their builder filed a notice of intention and the trades registered liens. On August 11 Justice Black vacated every registered lien from title and replaced them with charges over project-specific security funds.
Outcome brief
Elevate (1333 Weber Street East, Kitchener): what the credit bid left behind
A group assembled by junior lender Genesis Mortgage bought the Kitchener condo project for the first-mortgage debt plus priority payables, and 24 Tower A and all Tower B purchase agreements were disclaimed. On August 12, 2026, Black J. authorized the receiver to assign both debtors into bankruptcy, with the estates consolidated.
Outcome brief
428 King Street East: the Cobourg Esso the receiver never listed
The owner of a closed Cobourg gas station went into receivership on RBC's application in August 2025. Grant Thornton got an appraisal, environmental assessments and three realtors' proposals, then asked four interested parties for offers; on August 11, 2026, Justice Dietrich approved a sale to 1001062724 Ontario Inc. at a sealed price above the appraisal.
Case update
Blue Lobster: which company did the condominium pay for?
Before the CCAA filing, a Nova Scotia group sold a condominium in Charlottetown and $345,000 went to RBC. The borrower says it should have reduced its own term loans; RBC says applying it to an affiliate's operating line was the price of continued forbearance. The bank has been repaid in full and is not a party to the question — but the answer decides which set of unsecured creditors recovers.
Filing brief
Fleets Coffee: the trucks are gone, and a 2020 cheque sits in trust
Untether Capital and Untether Technologies, which ran mobile cafés as Fleets Coffee, assigned into bankruptcy on July 23, 2026, after defaulting on a joint proposal that rested on selling five coffee trucks. Capital's one listed asset is $339,222.20 from a June 2020 cheque that ISTC told the proposal trustee was issued in error, MNP reports.
Untether Technologies Inc. and Untether Capital Inc., Untether Technologies Inc. and Untether Capital Inc. (Proposal)
Case update
Ortino Group: from sale certificates to one auction
Bank of Montreal, owed approximately $18.5 million, put the nine companies of an Ontario excavation, trucking and landscaping group into receivership on May 21 after two forbearances. On August 11 the court approved an auction by Infinity Asset Solutions under a sealed guarantee, authorized distributions to BMO and shielded the receiver from tax-statute liability for facilitating them.
Outcome brief
Skyview Parking: the $9 million offer from outside the sale process
Skyview's Calgary airport-parking lot went to Redstone after a five-round auction, the price allocated $6,850,000 to the land and $500,000 to the parking company. The principals' $9 million offer from outside the process was dismissed, two appeals were struck, and on August 4, 2026 the court approved MNP's final distribution and discharge.