Insights
The archive, newest first — posts 601–625 of 719. The 8 most recent are on the front. ← The newest analysis
Filing brief
Langenburg Motors: a failed succession, TD's CCAA and no binding bid
On TD's application, a Ford and a GM dealership in Langenburg, Saskatchewan, and a related holding company entered the CCAA in February owing the bank about $18.1 million, after a 2024 succession deal failed; the monitor's sale process drew three letters of intent and no binding bid, and the stay runs to December 4.
Paragon Sales Ltd., Langenburg Motors (1967) Ltd., and 616001 Saskatchewan Ltd.
Outcome brief
Limestone Loan Capital: the bonds become trust units and the interest stops
Limestone Loan Capital raised $33,335,000 in bonds, lent $34.1 million to an affiliate, SkyCap Financial, and could not make the bonds' December 15, 2025 payments. The proposal approved on July 20, 2026, accepted by all 347 bondholders who voted, trades the bonds for entitlements to mutual fund trust units, one per dollar of claim at September 15, 2025.
Filing brief
Nanopay: the 1% proposal, then the assignment
The Toronto embedded-payments start-up gave its general unsecured creditors 1% of its new shares under a 2023 proposal, its parent agreeing to file no claim. On July 2, 2026 it made an assignment in bankruptcy; its principal asset is its shares in a subsidiary, which it agreed in April to sell for US$199,999.
Outcome brief
Tintina Housing Society: a receiver as landlord for 27 years
On CMHC's application, a Yukon court put Tintina Housing Society's 19 houses in Watson Lake into receivership in 1998. Deloitte ran them until December 5, 2025, when it was discharged and PwC appointed; the final statement in its July 20, 2026 report shows $9,028,822 received and paid out, $800,878 of it transferred to PwC.
Case update
RioCan-HBC: numbers where the names used to be
The RioCan–Hudson's Bay joint-venture entities have been renamed as bare Ontario numbers. Three of their four malls have sold, and FTI's seventh report puts the secured lenders' shortfalls at between 48% and 93% before a dollar of the $129.1 million on hand is paid out.
Outcome brief
Action Flooring: $7,500, and a two-year receivership closes
Ernst & Young collected $801,693.94 of Action Flooring's receivables over two years and settled the last disputed one for $7,500 because the books could not support the claim. On July 17 Justice Marion directed $8,856,289.66 to the Bank of Montreal and set the conditions for discharge.
Outcome brief
Life Plaza: the vesting order that undoes itself
Timbercreek credit-bid for a downtown Calgary commercial building it had lent against, then assigned the purchase to a Hines affiliate. The amended vesting order MNP took to court on July 17 contains a clause that voids it and revives the original if one indemnity is not delivered.
Filing brief
Monde Development: a receiver for the condo a fire hose flooded
On July 7 Justice Myers appointed BDO receiver and construction lien trustee of Monde Development's 89-unit condominium in Clarington, over the developer's opposition. Water from a fire hose flooded the building in December 2025; seven months on, Chubb had not paid an insurance claim of over $15 million.
Outcome brief
Delviro: $2,025,000 to settle, and a $15,864,573 consent to judgment in escrow
EY, as receiver and trustee of the Etobicoke LED maker, sought $16,920,578 from principal Joseph Delonghi, jointly with seven related parties, alleging preferences, transfers at undervalue and fraudulent conveyances. They settled days before the hearing for $2,025,000, with consents to judgment held in escrow against a failure to pay the $969,000 balance by July 31.
Case update
MTE Logistix: the sale process they cancelled four days out
Fiera and the MTE warehousing group were due in court on July 20 to approve a sale process with the lender's credit bid as the stalking horse. KPMG's second report, filed July 16, says they have abandoned it for an immediate sale to a numbered company — and explains the pivot in terms of staff.
MTE Logistix Limited Partnership and seven related companies
Outcome brief
Arctic Canadian Diamond: a financial model to 2039, and a receiver to close the mine
Ekati's CCAA ran on a $60-million facility from the Canada Enterprise Emergency Funding Corporation, of which $10 million was drawn. When the sale process produced no qualified bid, the second tranche stopped being expected — and the Northwest Territories asked for a receiver whose mandate is reclamation, not sale.
Arctic Canadian Diamond Company Ltd. and Burgundy Diamonds (Canada) Limited
Outcome brief
Kitimat Development Group: a $1.4 million letter of credit, returned
Backstop Holdings, lender to Kitimat Development Group and a 50% shareholder, bought the group's two motels by credit bid in 2015, providing a $1.4 million letter of credit in case the court cut its debt below $4 million. The action disputing that debt was discontinued in June 2026; the receiver's discharge was approved July 15.
Kitimat Development Group Inc. and Hotels and Resorts of Kitimat
Case update
LJM Tower: the $19 million, and the power to ask where it went
Once its construction lender was repaid, LJM Tower's developer received $19,043,030.60 of sale proceeds. KPMG, made monitor at surety Aviva's request, has traced about $11.5 million to related entities and persons, says some transfers could be preferences or transfers at undervalue, and on July 10 won power to compel documents and examine under oath.
Case update
Nexus Construction: the bank joins the receiver as a protected party
On May 7, the day PwC became receiver of 9468-4545 Québec Inc.'s lot in Mirabel, Québec's Environment Minister ordered the company and Nexus Construction to characterize and restore it. On July 15 an amended order declared the receiver, CIBC and anyone they designate to sell not liable in connection with that order, absent gross or intentional fault.
Filing brief
999 Gold Depot: the order that isolates one creditor
A five-person gold refinery filed a notice of intention in April, after the CRA sent a Requirement to Pay to the bank holding its only operating account. On July 13, the day before it would have been deemed bankrupt, Justice Myers continued the proposal under the CCAA and stayed everything except the tax appeal that caused it.
Case update
Future Health Technologies: the stalking horse waits on who owns the code
MNP proposed selling FHT's remote patient monitoring platform through a process led by a $2,484,081.15 credit bid from a company related to FHT's secured creditors. On July 14 Justice Dietrich questioned vesting off 2804476 Ontario's IP claims and a $50,000 break fee for a credit bid; the receiver said it would seek a declaration on ownership instead.
Filing brief
John G. Hofland: $4,004,000 on the books, $975,010 estimated to realize
The Mississauga floral and giftware wholesaler, dating with its predecessors to 1956, assigned into bankruptcy on June 26, 2026; three days later its second-ranking secured lender, owed $1.4 million, appointed the trustee, GlassRatner, private receiver. The statement of affairs sets assets at an estimated realizable $975,010 against $5,114,452.78 of liabilities.
Outcome brief
R-Chad: a shareholder's stalking horse, outbid on Remembrance Road
One of R-Chad Investment's two litigating shareholders set the stalking-horse floor for its Brampton Esso site; OWO Management won the April 22 auction. On July 14, 2026, Justice Bordin approved the sale at a sealed price, authorized a distribution to National Bank, and said the investigation the other shareholder wanted needs a proper motion.
Outcome brief
Sweet Berry Farms: 205 prospects, seven NDAs, no bid
Grant Thornton's sale process for the western Newfoundland hog farm went to 205 potentially interested parties and drew seven NDAs but no bid by April 29, 2026. Five days earlier the monitor had reported a material adverse change; the company sold its hogs, BMO appointed MNP as private receiver, and the monitor now seeks to end the CCAA.
Outcome brief
AYR Wellness: a New York credit bid and a Vancouver wind-down
Noteholders are taking the AYR group's core U.S. cannabis assets by credit bid, state by state, while the B.C. parent, the only petitioner, winds down under the CCAA. On July 13, 2026, Justice Walker directed distributions to the notes' collateral trustee, granted releases once all eight D&O claims had been disallowed, and authorized a bankruptcy assignment.
Filing brief
Club Monaco Canada: after a PPSA foreclosure, $39,774 in the bank
The company behind the Toronto-born brand in Canada, called Club Monaco Corp. until June 8, assigned into bankruptcy on June 25 with $39,774 in cash against $54,881,324.27 of unsecured claims. Its secured creditor had already acquired all of its personal property in Canada, and AlixPartners expects no distribution.
Outcome brief
Excavation National: the receivables outlasted the NOI
The Québec excavation contractor spent its NOI trying to collect from clients, some holding back payment pending subcontractors' releases. RBC had KPMG appointed receiver on June 8, 2026; KPMG filed an assignment on June 22 and lists $13,558,076 in receivables and holdbacks against $30,820,930 in liabilities, with no distribution to unsecured creditors in view at this stage.
Outcome brief
Global Food and Ingredients: two receivers and an unfiled GST election
Two receivers were appointed over a plant-based ingredients group's assets in May 2024, one per primary secured lender; neither was paid in full. In July 2026 Richter assigned Global Food and Ingredients Inc. into bankruptcy, a step Justice Black had accepted as prudent, to reverse any potential CRA priority tied to an unfiled GST election.
GFI Brands Inc., Global Food and Ingredients Inc. and GFI Brands Inc. (FCC receivership), Global Food and Ingredients Inc. et al. (Siena receivership) +1 more
Filing brief
Paystone: the bidder who has to help the other bidders
Justice Myers refused Paystone's non-arm's-length prepack in June, on the ground that management was to receive value for equity a balance-sheet insolvency says is worthless. On July 10 he approved a sale process run by the Monitor instead — one in which management may bid, and must hand over the information its competitors will use.
Paystone Holdings Inc., Paystone Inc., Atom Growth Inc. and Atom Growth (USA), Inc.
Outcome brief
Peace Point: six months at Sotheby's, then the lender's credit bid
Listed for six months from $3,950,000, 79 Berkeley Street in Toronto, its oldest part built around 1872, drew no acceptable offer. Vista Mortgage Capital, holding Equitable Bank's first mortgage by assignment, bid part of its debt instead. On July 13, 2026, Justice Dietrich approved the sale and sealed the price until closing.