Insights
The archive, newest first — posts 576–600 of 719. The 8 most recent are on the front. ← The newest analysis
Outcome brief
Planswell: the financial-planning platform that sold for FUTR units
FVP Servicing had Harris & Partners Advisory appointed receiver of the Toronto fintech on April 28, 2026. The only firm offer, in the receiver's account, was FUTR Planning Inc.'s: 1,500,000 FUTR units at C$0.20, approved June 5. Justice Cavanagh made the discharge order July 27; the receiver's final accounts sent C$1,218.42 to the bankrupt estate.
Case update
TPine: one default judgment, at 24%, for the undefended truck leases
On July 9, Justice Cavanagh granted a single omnibus default judgment, bearing 24% a year, against TPine truck-lease obligors who neither settled nor disputed BDO's claims. The receiver's June 30 report counted 445 such obligors on 682 leases, and 235 pieces of disputed equipment not returned, their location unknown.
Case update
Grafton Connor: service on the Clerk is sufficient service
Halifax Regional Municipality filed one proof of claim in the Grafton Connor CCAA — $16,409.22 for police overtime — and none for the property taxes. The bar date passed, the plan was voted on, and on April 10 it was sanctioned. HRM then moved to have its extinguished tax claims restored, arguing the proceedings should have been served on the municipal Clerk under its own charter. On July 27 the monitor served notice on the Attorney General of Nova Scotia that the charter provision is constitutionally inoperative.
Filing brief
Diamond Luxury: a brokerage, a builder, and one house in London
TD Bank's receivership application against Diamond International Realty and Diamond Luxury Developments lists six defaults, and the smallest of them is the most telling: the builder had started banking somewhere else. On July 24 Justice Kalajdzic appointed a receiver over the builder and adjourned the part concerning the brokerage, which owns the London property, to August 7.
Case update
EquityLine: one mortgage found forged, seven more still contested
Eight homeowners, many of them elderly, allege that mortgages EquityLine SPV held on their homes were procured through fraud. One homeowner's instruments were found forged and deleted from title; the other seven claims fall under a consent protocol with mandatory mediation. On July 24 the receiver was appointed over the general partner that holds legal title to some of them.
Outcome brief
Innovative Capital: the halibut licence closed, the trawler went to the receiver
Dominion Trading's offshore halibut licence NL-013 went to Hake Harvesters in a sale approved June 30, 2025, then waited on Fisheries and Oceans, which had to consult stakeholders in Nunavut. BMO had Ernst & Young appointed receiver in January 2026; the $11,650,000 sale closed March 26, and the monitor has applied to end the CCAA.
Innovative Capital Investments Inc. and Dominion Trading Ltd.
Case update
Kalum River: two float-plane sales below the 2023 appraisals
BDC lent Kalum River Contracting $1,100,000 in April 2024 to buy, among other things, three float planes for a planned AC Airways charter service. In receivership, the court has approved sales of two: the 1979 Skywagon for C$276,500 and the 1951 Beaver for US$300,000, against 2023 appraisals of C$359,032 and C$506,985.
Outcome brief
La Pue International: six condo contracts ended, no seal for the suite numbers
Justice Dietrich's July 24, 2026 orders close out the Stanley District receivership in Niagara Falls. With 362 pre-sale agreements already assigned to the land's buyer, the remaining six are terminated, the lien holdback is fixed at $901,295 and the receiver's discharge awaits its certificate. She refused to seal the suite numbers.
Case update
Lifetec: sold roll formers, and the records to say whose they were
Grant Thornton asks the B.C. Supreme Court, at an August 3 hearing, to approve a cash sale of Lifetec's remaining assets to Joiner Sales and Infinity Asset Solutions at a redacted price, and to order Samco Machinery to produce records it calls critical to determining who owned two roll formers sold to CGC Inc.
Filing brief
Master Kitchen: the bankruptcy power the model order leaves out
On the application of RBC, which puts the debt at $1,908,730.10, Justice Myers appointed msi Spergel receiver of Master Kitchen Cabinet and Everest Design & Build, neither operating and neither appearing, and empowered it to assign either into bankruptcy, a step his endorsement says will reverse priority on significant GST/HST debt the debtors may owe.
Outcome brief
Novelion: the end of QLT, and a discharge sought without the CRA's clearance
Alvarez & Marsal took over the company that was QLT Inc. in January 2020, released two royalty streams for US$250,000 and US$5,000, needed a Chapter 15 to deliver Amryt ADRs and paid shareholders $2.47 million in cash. It applied for its discharge, granted July 24, 2026, without the CRA's final clearance certificate, requested in May 2024.
Case update
1682 Victoria Park: sixty-five unsold, and the lender who did not prime anybody
Findev Lending put its own borrower into CCAA to sell 65 townhouses, took no DIP charge, and let its administration charge rank fourth behind three mortgages. On July 24 Justice Myers extended the stay and told sixteen existing homeowners what they would need to be heard.
Case update
Clarington Esso: a sale approved, and soil contamination at Bethany
Justice Mew approved Grant Thornton's sale of the boarded-up Clarington Esso on July 23, at a sealed price. At the Bethany Esso, where tests found soil contamination and RBC says it is not prepared to fund remediation, the receiver has not taken possession; its request to be discharged over the two Bethany companies was adjourned.
Case update
EBF Group: who is owed what, and out of which loan
The EBF Group is a lender, and the fight in its CCAA is not with its borrowers but among its own secured creditors. On July 23 Justice Steele approved a timetable that gives them until 5 p.m. on September 4 to dispute the Monitor's findings — or lose the right to.
Case update
Summit Auto Group: the last dealership finds a buyer
Eleven months after BMO, owed more than $58 million, put the dealership group into the CCAA, the court on July 23 approved a sale of Sun Valley Nissan, the last dealership left to sell, at a redacted price. BDO has asked to hand the mandate to Goldhar, where the partner who ran it now works.
Filing brief
361 Taunton Road West (Ajax): fourteen amendments, then the consent
Ducimus Capital lent $28,323,104 against a vacant 24.80-acre Ajax site planned for condominiums and townhouses, under a December 2018 commitment letter that was amended fourteen times, then relied on the consent to receivership the owner signed in March. On July 16, Justice Myers appointed BDO Canada Limited as receiver.
Outcome brief
CB Holdings: the would-be stalking horse wins the Yonge Street assembly
BDO would not back CentreCourt's stalking-horse terms. After 39 confidentiality agreements and six offers, CentreCourt's bid won at a sealed price, reduced when it waived its due-diligence condition; on July 22 the court approved the sale and, on Canada ICI's motion, directed BDO to assign the two numbered owners into bankruptcy.
Outcome brief
Green Impact Partners: the initial order that would not take effect until 11:59
National Bank obtained CCAA protection over eight Green Impact companies in February and then held the order in abeyance for thirteen days — it would lapse if the debt were repaid by 4 p.m. on February 17. It was not. Five months later the operating company's shares were sold to Firefall.
Case update
High Park Farms: a creditor takes up the claim against Cannfections
Tilray subsidiary High Park Farms went bankrupt in April 2024 with assets of $2, a month after an arbitrator awarded $19,951,490.80 to Cannfections, the cannabis-edibles company it half-owned. On July 22, 2026, Justice Myers authorized creditor High Park Holdings to prosecute the estate's lawsuit against Cannfections and its co-defendants at its own expense and risk.
Filing brief
Eagle Motor Group: a receivership over 61 vehicles and nothing more
Daimler Truck Financial leased 75 trucks and trailers to two Mississauga companies; it says they owed $3,561,951.01 as of June 8 and have refused to surrender 62 of the vehicles. On July 21 Justice Myers appointed Deloitte receiver over 61 vehicles and their proceeds and authorized it to sell them at public auction.
Case update
Flex Modular: what the receiver did not find in Dundalk
On March 10, KPMG, as receiver, attended the Dundalk, Ontario plant from which Flex Modular made and installed modular buildings, and found it substantially vacant, with no meaningful machinery, equipment or inventory and no physical books or records. On July 20 the court approved the site's sale to the Township of Southgate; the price is sealed.
Precedent note
The lender as applicant
A secured creditor that wants a court-supervised sale has two doors: appoint a receiver, or put its own borrower into CCAA. Four 2026 proceedings show lenders choosing the second — and taking radically different positions on how much priority to ask for once inside.
1682 Victoria Park Avenue Inc., Green Impact Partners Inc. and seven related entities, MTE Logistix Limited Partnership and seven related companies +1 more
Filing brief
World Energy GH2: the monitor's sale, on a shareholder-linked loan
Five months into the CCAA of the Stephenville wind and green-hydrogen developer, the company agreed to the monitor-run sale Export Development Canada had demanded, with letters of intent due October 15. The interim loan came from a lender the monitor describes as not at arm's length, at USD$670,000 and 10%, in place of EDC's.
Case update
Bridge Attainable Housing: 16 third mortgages for $128,251.96
Six years into the receivership of the Calgary society that sold McPherson Place homes with no down payment, Grant Thornton asks the court to approve a settlement: the receiver would buy 16 third mortgages, $498,426 outstanding, for $128,251.96, and McPherson would take the $2,084,209 its counsel holds in trust pending a priority dispute with the City.
Filing brief
Canada Tire: the year is decided in July
Québec requires winter tires by December 1, so a tire distributor orders its whole season by mid-July. Canada Tire — founded in 1928, run by the founder's great-grandson — spent this July fighting its lender over a $1.25 million overadvance instead, and filed for CCAA protection on the 17th.