Insights
The archive, newest first — posts 51–75 of 719. The 8 most recent are on the front. ← The newest analysis
Case update
Hazelton Development: the credit-bid RVO is not granted 'in its current form'
Justice Kimmel did not grant the reverse vesting order for Firm Capital's Highlight of Mississauga credit bid "in its current form". The lien trades lost on priority, but releases that would extinguish potential trust claims over funds Firm Capital held back meant the monitor had not shown they would be no worse off than in a bankruptcy.
Case update
Mayrand: an estimated 21.8% dividend, and Alimplus's claim admitted in full
Justice Pinsonnault's October 30 order authorizes and directs the monitor to pay $6,158,334 on $28,224,406 of admitted unsecured claims, $3,635,591 of it to the trustee of bankrupt sister company Alimplus, a role the monitor also holds. The monitor rejected Dalemma inc.'s $901,943 claim as an equity claim, open to appeal, its report says, until November 3.
Case update
National Traffic Safety: a receiver to sign, or a proposal to vote on
Oxygen Working Capital terminated its forbearance and asks the court on November 2 to appoint a receiver for the sole purpose of completing Ramudden's sale. The company seeks a $500,000 DIP loan and puts forward an amended proposal issuing new shares to A2, the sole director's company. Local 837 backs Ramudden.
Outcome brief
15 and 38 Simcoe Street: two Oshawa buildings, each to its only offeror
On October 28, 2026, Justice Steele approved the receiver's sales of two Oshawa buildings to Haviland Homes Ltd. and 873815 Ontario Limited, each the only offeror, the receiver says; sealed both prices until closing; and authorized distributions to Equitable Bank, though the receiver expects the proceeds to fall short of what the bank is owed.
15 Simcoe Street North Oshawa Ltd., 38 Simcoe Street South Oshawa Ltd., and 2219137 Ontario Limited
Case update
AdvEn: multiple bids, and powers sought for the trustee to take a deal to court
AdvEn's single-phase sale process drew "multiple bids" by its October 23 deadline, the proposal trustee's Third Report says, their number reserved for a confidential report. AdvEn's application, returnable November 6, asks Justice Dunlop to extend the stay to January 1, 2027 and to empower the trustee to seek approval of a deal, citing possible insider participation.
Filing brief
District REIT: the court finds no 'cheque in hand' and appoints EY
On October 28 Justice Jana Steele appointed Ernst & Young Inc. receiver over rental buildings in Toronto, London, Brantford and Saint John on CMLS Financial's application, refusing a further adjournment for a Phoenix Mortgage commitment letter the court found conditional on due diligence and on Phoenix obtaining CMHC approved-lender status.
Filing brief
Pacific Process: interim fees while four creditors pursue a $10.6 million claim
MNP will ask the Registrar in Bankruptcy on November 13 to approve its and its counsel's accounts on an interim basis, because the s. 38 litigation "may not conclude for a considerable period": the bankrupt's $10.6 million claim and $10.7 million lien over a Blackfalds, Alberta milk plant, which four creditors sharing its name may pursue at their own expense and risk.
Filing brief
Paradigm Holdings: 56 furnished condos in seven packages, or the shares
Grant Thornton, receiver since September 23 of the owner and the operator of a furnished short-term-rental business in Saskatoon and Regina, seeks approval, at a hearing set for November 4, of a sale process for 56 condominium units in seven packages or as a sale of Paradigm's shares, with a teaser by November 16 and binding bids due December 31.
Case update
QM Group: the distribution waits for Phantom Disposal's cross-motion
Justice W.D. Black extended the stay to April 30, 2027, adjourned the monitor's distribution method to November 25 after lien claimant Phantom Disposal sought time for a cross-motion, and declined a funded "carriage hearing", noting "relatively little money at stake". By Phantom's count, the method would give Intact about $1.51 million of $2.85 million left for creditors.
Filing brief
Sunshine Oilsands: the Orphan Well Association needed no orphan designation
Over Sunshine Oilsands' opposition, Justice B.B. Johnston appointed PricewaterhouseCoopers receiver and manager of its Alberta property on the Orphan Well Association's application, holding that the association's delegated power to seek a receiver requires no prior orphan designation, and cut the proposed no-approval sale limits to $150,000 a transaction and $1.5 million in all.
Case update
Sussman Mortgage Funding: a land-lease community for sale, with no broker
Justice J. Dietrich approved a sale process on October 26 for the Uptergrove land-lease community in Ramara, held half by one of the debtors; its co-owner consented in exchange for a guarantee release. The receiver says it is examining security purportedly granted to members of an investor group, and sets out no view while talks continue.
Filing brief
Sweet Home Shores: a receiver for 30 condominium units on Lakeshore Road
On October 22 Justice J. Kalajdzic appointed BDO receiver and manager of Sweet Home Shores Inc., owner of all 30 units of a tenanted condominium complex in Plympton-Wyoming, at the request of Peakhill Capital, which says the company has missed its monthly interest payments since October 2025 and owed $12,303,540.70 at September 15.
Filing brief
2868 Bovaird Drive: a Brampton truck yard, an as-is sale and a redacted price
Fuller Landau, receiver of 1000599184 Ontario Inc., will ask the court in Brampton on November 13 to approve an as-is sale of 2868 and 2870 Bovaird Drive West to MKSM Holdings Inc., keep the price sealed until closing, and pay the net proceeds to BDC up to its accepted claim of $9,571,905.61.
Case update
Asbestos Corporation: rules for the claim files, and New York's reasons
On October 21 Justice Émond extended Asbestos Corporation's CCAA stay to February 26, 2027, let it borrow up to US$75 million from Resolute Management Services Limited, and limited what those who receive claimants' files may do with them. On October 23 Judge Rakoff gave reasons for upholding U.S. recognition on the nonmain ground.
Filing brief
D & L Mining: an offer for the Wingdam interest, and a disclaimer instead
The Wingdam Mine's operator, D & L Mining Corp., assigned into bankruptcy on October 9 listing $545,000 of assets against $19,278,670.99 of liabilities. Its trustee, MNP, disclaimed D&L's interest in the Operating Agreement with the mine's title holder effective October 22, after the trustee, the title holder and a would-be buyer could not agree on a quick transfer.
Case update
Entourage Health: the exit deferred, and a stay sought to October 2027
EY reported on October 27 that Health Canada had no concerns, under the Cannabis Regulations, with the change of control. It also asked to adjourn its WEPP request, as the Attorney General had requested, pending a proposed Synaptive appeal; deferred its termination and bankruptcy requests; and sought a stay to October 29, 2027.
Case update
Fallon Energy: no surplus for the creditor trust
Fallon's reverse vesting deal closed on August 25 at a $1.00 price, and the $443,894 left in the estate would go to professionals and CRA's deemed trust, short of the professionals' invoices, receiver Grant Thornton Limited reports. On November 3 it asks to close the creditor trust without a bankruptcy and to be discharged.
Outcome brief
Formula Solutions: a waterfall that stops at ARK, after the molds went for scrap
On October 22, 2026, Justice W.D. Black directed the receiver of the Burlington aerospace-parts maker to pay its court-ordered charges and then ARK Capital Ltd., owed more than $7,199,078 at September 30, from approximately $1,705,098 on hand. The receiver reports no recovery for unsecured creditors; the distributions bind it as trustee in bankruptcy.
Filing brief
Norshield: the interim payout that waits on a Barbados hearing date
On October 26, Justice Dietrich extended the CCAA stay of Olympus United Funds Corporation, in receivership since June 2005, to April 30, 2027. An interim distribution to its proven creditors, now estimated at about $3.5 million, needs approvals from the Barbados court that the endorsement calls "uncertain".
Case update
Shawn Oaks: BBG pulls out, and a Trez affiliate credit-bids $57.5 million
BBG Management told the receiver on September 8 that it intended to terminate its $61.5 million deal. Alvarez & Marsal proposes a November 16 hearing to approve a Trez Capital affiliate's $57.5 million credit bid, now an asset sale, and intends to seek a declaration that BBG's $3.5 million deposit, which BBG wants returned, is forfeited.
Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd.
Outcome brief
Teal Jones: the equipment ahead of the shares
On October 26 Justice Weatherill approved Gillfor's purchase of listed Surrey mill equipment ahead of its share purchase, at $25,252,900 by the monitor's account, deducted from the share price, for the amendment's stated purpose of enabling Gillfor to claim the Productivity Mega Deduction. The court also granted the distribution order and a stay to June 30, 2027.
Case update
Waterloo Innovation Network: a motion against the lender's charges
The debtors' former COO and the property-management company that officer owns ask the court on October 30 to discharge the lender's $8 million and $15 million charges on 176 Columbia Street West and stay the reverse vesting motion. The receiver puts WIN2's balance owing at $40,017,360.97 and calls the lender the fulcrum creditor.
Case update
1451 Wellington: a disclaimer fight over the drywall suites
The Ottawa condominium developer seeks what it calls its eighth CCAA stay extension, to December 18, as a bridge to longer relief. Its affidavit, citing the monitor, puts 42 units in the deposit-return process and defends disclaiming three suites sold to its drywall subcontractor's principal, who opposes, as does the company the agreements were assigned to.
Case update
EBF Group: the lenders settle, and the Monitor seeks the directors' powers
Under a September 15 settlement, EBF's three secured lenders accept MNP's entitlement findings as modified, with the first $250,000 of JNR proceeds to 1968328 Ontario. MNP's motion, returnable October 30, seeks interim distributions after $1,264,000 of reserves, a stay to March 31, 2027 and, for itself, powers EBF's directors or officers could otherwise exercise.
Filing brief
Eglinton Fuels: a receiver now, the misspelled amalgamation later
Justice Dunphy appointed BDO receiver on October 20 of three companies that, BMO says, own and formerly operated a Toronto Ultramar station; the bank puts its borrower's debt at $5,624,393.47 at September 16. The apparent merit of fraud allegations not yet proved eased the just-and-convenient test, the judge wrote; a misspelling's effect on BMO's land security waits.
17447124 Canada Inc., Eglinton Fuels Inc. and 17919310 Canada Inc.