Insights
The archive, newest first — posts 526–550 of 719. The 8 most recent are on the front. ← The newest analysis
Filing brief
Jeil M&S Canada: a proposal funded by claims against NextStar
The Thornhill installation subsidiary of a Korean battery-equipment maker filed a notice of intention after losing a $4,720,089 Construction Act adjudication to Black & McDonald. Its proposal, for an August 20 vote, would pay unsecured creditors owed an estimated $13,861,049 from net recoveries on claims against NextStar that the company puts above $25 million.
Filing brief
Luxor Land: the listing that didn't sell
National Bank extended a $12 million land loan on two Edmonton parking lots six times, then demanded. Rather than appoint a receiver in 2025 it agreed to a consensual judicial listing, cut the asking price in April, and got no offer it would accept. It also paid $1,144,565.72 of the borrower's property taxes to stop a tax sale of its own collateral. On August 10 it came back for the receiver.
Case update
Shaw-Almex: the Jaén plant came back; the rest of the Shaw settlement waits
In December 2025 the founders' son and his holding company settled the monitor's transfer-at-undervalue claim over a factory in Jaén. In February 2026 SAIL again became the plant's indirect owner; by August the settlement's other steps were outstanding or partly done; and FTI, seeking a stay to November 27, expects to move to end the CCAA regardless.
Outcome brief
TNT Panels: bought out of an NOI, sold to its lenders a year later
TNP paid $3,057,455 for a Smiths Falls truss and wall-panel business in a 2025 NOI sale and lost about $2.6 million in ten months. On July 31, 2026, Justice Black appointed AlixPartners as receiver and, noting he had hesitated, approved a sale to lenders Celina and Fox Investments for a $4,065,361.70 credit bid plus assumed liabilities.
Case update
YSL Residences: the trustee said it was not an adversary
A proposal trustee disallowed a $18 million profit-share claim, lost that fight to the Court of Appeal and the Supreme Court, was ordered to value the claim instead, hired two appraisers and valued it at zero. When the claimant asked what the trustee had told its experts, the trustee said the communications were irrelevant. On August 7 Justice Kimmel ordered production — and the reason was the trustee's own position that it had never been adverse to her.
Case update
Imperial Tobacco: who will run the tobacco settlement's foundation
The three tobacco CCAA plans were sanctioned in August 2025 with the Cy-près Foundation left deliberately unfinished. On August 7 Justice Kimmel signed three orders filling that gap — a management team, an independent executive search for the directors and the chair, a process for choosing which proposals get grants, and rules for spending the fund's capital and income.
JTI-Macdonald Corp., Imperial Tobacco Canada Limited, Rothmans, Benson & Hedges Inc
Outcome brief
Canadoil Forge: wages before fees, then two sales for $18.67 million
RBC and Fiera brought competing motions over the Bécancour pipe-fittings maker before Justice Luc Morin appointed FTI receiver, refused Fiera's $650,000 interim financing and ranked the fee charge behind the employees' wage priority. Two sales brought in $18.67 million combined, and on August 7, 2026, the receiver certified complete a distribution that included $9.925 million for Fiera.
Outcome brief
Coast Appliances: the brand to Trail, the deposits split by province
A BMO-led syndicate put the 48-year-old appliance retailer into a CCAA with $16.8 million of customer deposits on its books. The monitor treated B.C. consumers' deposits as secured and everyone else's as unsecured, and on August 7, 2026 the court approved the sale of the brand and customer database to Trail Appliances at a sealed price.
Coast Wholesale Appliances Inc. and Coast Holdings (GP) Ltd.
Outcome brief
Eddie Bauer Canada: a bankruptcy instead of a ruling on WEPP
Canada objected that a Part IV recognition could not open the Wage Earner Protection Program to Eddie Bauer Canada's former store staff. The foreign representative dropped the point, ended the recognition and put the Canadian company into bankruptcy on July 22, 2026, with no assets and $4,303,658.31 in unsecured claims.
Outcome brief
Hano Investment: no cheque, no redemption
Justice Steele gave Hano Investment until August 5 to put the money to redeem National Bank's roughly $16.8 million mortgage in trust. On August 7 Justice Black found its proof of financing "indirect and concerning," dismissed the redemption and approved the sale of 30 Baywood Road in Etobicoke, home of the Toronto Grand banquet hall.
Case update
Pride Group: the hotel operator on Schedule "A"
Sweet Home Hospitality is the one Pride Group entity that never sold a truck. Two years into the wind-down, EY has itemized forty transfers through the upstate New York hotel it half-owns, and asked Justice Cavanagh to hold the sale proceeds six days longer.
Filing brief
Acora Acoustics: a receiver without a lender
No bank applied. The receivership of a high-end loudspeaker manufacturer was sought by its CFO against its CEO, under the Ontario Business Corporations Act and s. 101 of the Courts of Justice Act, and granted on August 6 — with the CEO not opposing the appointment while expressly refusing to admit the oppression allegations behind it.
Outcome brief
Blue Sky Resources: the wells to the lender, the cash to the regulator
The lender took every share of the Calgary oil and gas producer by reverse vesting order for $1.00, with retirement obligations the receiver put above $235 million. The pre-filing claims went to a numbered company whose cash, after the receiver's charge, is bound for the Alberta Energy Regulator.
Outcome brief
Gold Mountain: the contractor bought the mine, and its own release
Nhwelmen, the contractor that had run the Elk Gold mine, took it by reverse vesting order for approximately $21 million, paid by credit bid plus cash for priority payables, with a release of claims against itself. Its dispute with an equipment lessor over that release was set for August 6, 2026, when MNP's discharge order was made.
Gold Mountain Mining Corp., Elk Gold Mining Corp and Bayshore Minerals Incorporated
Case update
Stateview Homes: the last property unsold, and two discharges opposed
Three years after its first offer deadline, Stateview's Stouffville land is still unsold; on August 6 the court let the receiver borrow up to $1 million ahead of the five mortgages on it. In the bankruptcies of the group's principals, Carlo and Dino Taurasi, the trustee has given notice it intends to oppose both discharges.
Filing brief
Strategic Oil and Gas: who holds the licence at Cameron Hills after the receiver
The Northwest Territories government has funded the Cameron Hills receivership since 2020, $24,849,248 after a forecast refund by the receiver's accounts, while 44 wells were abandoned. The territory's oil and gas regulator now opposes the receiver's discharge unless the government first obtains a licence and an authorization; the government says it is not eligible for the licence.
Strategic Oil and Gas Ltd. And Strategic Transmission Ltd. (Receivership)
Case update
720434 N.B.: what the Caisse leaves, building by building
With 35 McKnight Street closed on July 6, the receiver has sold all nine properties for $18,945,000 gross. The court ordered a claims process on July 29, and on August 4 the second-mortgage lenders, whose appeal of the sale failed in February, asked for $1,000,000 from the surpluses on the Cap-Pelé and Bathurst properties.
Case update
Christenson: what happens to a life lease when the building is sold
Nine Alberta seniors' housing communities are being sold to a single purchaser. The residents hold life leases, and the application filed on August 5 asks the court to terminate every one of them at the moment of closing — converting each into a standard residential tenancy with a new landlord, under plans the residents themselves approved in February.
Outcome brief
AmerCan: a Thousand Islands sale that needs two lots to become one
On July 16, 2026, Justice Dietrich approved MNP's sale of three Thousand Islands parcels to Aura Resorts Inc. at a sealed price and let the receiver apply to join the two lots a septic system crosses. On August 4, a receiver-drafted stay lift let a lien claimant file a trial record ahead of its deadline.
Outcome brief
Hammer & Nails: Beckwith's sale is approved, and Maple's offers fell short
On July 24, Justice Steele approved the sale of the 16-unit Beckwith building in Smiths Falls at a sealed price the receiver says will not repay Desjardins in full or leave anything for First Source. Offers for the Maple building fell short of its secured debt, and the receiver is repositioning it before a sale.
7 Maple Avenue and 161 Beckwith Street North, Smiths Falls, Ontario
Case update
Steve's Music Store: the related party stood down
Five months after filing a notice of intention, the company has closed every store, auctioned the last of its inventory and disclaimed its final lease. What is left is cash, a receivable from the auctioneer and some life insurance policies — and a proposal offering creditors $750,000, made possible because the family group agreed to give up an estimated $1.4 million of its own claims.
Case update
Elevation Gold: the monitor signs, because nobody else is left
After the Moss Mine was sold out of the CCAA in December 2024, the operating company left the Canadian proceeding and the directors of every remaining debtor resigned. A royalty holder's lawsuit carried on regardless. The settlement filed in Arizona on August 3 asks the US court to recognise the Canadian enhanced powers order and let the monitor execute the settlement documents on behalf of companies that no longer have officers.
Outcome brief
Accuride Canada: 35 per cent to unsecured creditors, without a plan
Accuride Canada closed its London, Ontario wheel plant in early 2025 after no bidder came for it. On July 31, 2026, Justice Black authorized the monitor to pay $16,540,017 to the holders of 248 proven claims totalling $46,645,912.60, an estimated 35% recovery, under s. 11 of the CCAA and with no plan of arrangement.
Outcome brief
B+H Architects: an Abu Dhabi award and an 8.5% distribution
Surbana Jurong's Canadian arm, the firm's 49% shareholder, took B+H Architects by reverse vesting order in January, crediting its DIP loan and paying $2.47 million into a residual company. On July 30, 2026, the court approved an interim distribution of about 8.5%: $2,084,576.45 to the holder of a UAE arbitral award, $336,800.16 held back for PCL.
Case update
Balboa: the investors' claims stop at principal
With 400 of the group's Ontario rental houses sold or credit-bid, the monitor has $2.97 million for first mortgagees owed $13.02 million in principal on the last 64, and about $800,000 for investors whose principal alone it puts above $50 million. On July 30 the court approved a claims procedure that counts nothing but principal.