Insights
The archive, newest first — posts 126–150 of 719. The 8 most recent are on the front. ← The newest analysis
Filing brief
2167 Dundas Street: a receiver, more than a year after a 3.15% loan matured
On October 16 Justice Loo appointed D. Manning & Associates Inc. receiver of the two companies that own a Vancouver rental property. Beem Credit Union, which applied, says it was owed $4,199,319.45 by September 3 on a 2020 loan that matured in September 2025, and that the rents are collected without any accounting to it.
Filing brief
Annapolis Management: the Film Board building, and $487,500 waiting on CRA
Grant Thornton asks the court to approve a sale of Halifax's National Film Board building at a price it asks to keep confidential, and to say whether $487,500 held back from a residence sale may go to CIBC without the certificate the receiver says CRA will not issue until $54,403 of underused housing tax is paid.
Case update
Groupe Finstar: the credit bids, the park lot and the $10,000 sanction
On October 9 Morin J. approved 15 transactions in Groupe Finstar's Québec receivership, most of them secured creditors' credit bids, and an interim distribution of about $80 million. The judge refused a free transfer of a lot promised for parkland to Sainte-Agathe-des-Monts and sanctioned the applicant lender $10,000 for a late contestation.
Case update
Innovative Capital: a pollock overage holds up the groundfish licences
Innovative Capital's reported 2025 groundfish landings, made during the CCAA, exceeded its quota for some species, pollock nearly three times its limit, and DFO will not transfer the licences until the overages are addressed, the receiver reports. The trawler sold for $450,000, and on October 14 the court directed a $14.5 million interim distribution, $14,372,116.01 to BMO.
Innovative Capital Investments Inc. and Dominion Trading Limited, Innovative Capital Investments Inc. and Dominion Trading Ltd.
Filing brief
Jewlr: the brand went to Unique Designs before the bankruptcy
Jewlr, the online personalized-jewellery business, and its software affiliate Safyre Labs sold substantially all their operating assets to Unique Designs on September 14, then assigned into bankruptcy; the proceeds were applied to CIBC's debt, the bank has confirmed about $17.1 million is still owed, and MNP anticipates no distribution to unsecured creditors.
Filing brief
Rupert Mews: after nearly a year on the market, a sale to Porte goes to court
KPMG, receiver of the partnership formed to buy and redevelop five adjacent North Vancouver houses, asks the court to approve their sale to Porte and to seal the price, the appraisal and two letters of intent, at a hearing set for October 21; a listing at about $12.8 million drew, the receiver reports, 14 NDAs and no offers.
Case update
Synaptive: the receiver asks to pay the employees directly
Richter asks the court on October 26 to pay the employees it terminated their estimated $116,409 priority directly rather than hold it for ESDC, which has denied their wage-program claims. Its Third Report discloses $12.6 million of Globus deal proceeds; the motion seeks a declaration that Pacer Air Freight's $3 million claim passed to the residual company.
Case update
The Simple Investor: an administrator for 24 condominiums with no boards
On October 15 Justice Steele appointed Brian Antman administrator under s. 131 of the Condominium Act over 24 condominium corporations whose boards had resigned en masse, finding a "demonstrated inability" to manage them "because there are no boards." Two days earlier the court lifted the stay, on consent, for three mortgagees.
The Simple Investor Real Estate Group Inc. and related entities
Case update
De Cloet Greenhouse: three stalking horses, none for Simcoe
By the October 2 deadline BFG Supply's sale process had three stalking horse bids, all for non-Canadian assets, and the October 6 auction was cancelled. On October 15 Justice Dunphy approved for Canada a further interim DIP order, entered on consent with the creditors' committee's objection deferred, lifting availability from US$22 million to US$55 million.
Case update
Dynamic Restoration: 31 per cent for unsecured creditors, in MNP's example
MNP's second report sets out an illustrative proposal for Dynamic Restoration, a $1.4 million fund estimated to pay CRA's source-deduction claim in full and unsecured creditors 31%, against nothing for them in a bankruptcy. It supports a stay extension to December 7 and says $8,251 a lessor collected during the stay should be returned.
Outcome brief
Everhome: a DIP behind Meridian, and the receivership Meridian preferred
Justice Dunphy refused Sher Markham 30 days to bring a CCAA on a $21,150,000 DIP commitment written to rank behind Meridian, and on October 14, 2026 appointed Grant Thornton receiver and construction lien trustee over the debtors' property, including the 131-unit Everhome condominium in Markham. Meridian put its debt at $57,731,133.87 as of September 15.
Case update
Globo Chaussures: a $1 million proposal, and shares for the FTQ fund
The company behind the Globo Chaussures shoe stores proposes $1,000,000, paid out over 2027, for its ordinary unsecured creditors, and shares for the FTQ fund's $2,000,000 loan. Deloitte estimates a dividend of at least 15%, says a bankruptcy would pay those creditors nothing, and recommends a vote for the proposal on October 30.
Guide
How to sell your company's data to AI companies in Canada
Canadian companies can now earn six or seven figures by licensing their internal records to the companies that train AI. What buyers want, what the data is worth, how a licence works, and what changes when a company is in financial difficulty or already in CCAA, a proposal, bankruptcy or receivership.
Outcome brief
Mobilicab: 30 days of charges, and unpaid wages ahead of them
Mobilicab, a golf-cart distributor in four provinces, told staff on October 5 it would cease operations. On October 9 the court put it and its parent, Investissement Hatley, into receivership with PwC, limited the financing and charges to 30 days' needs, kept BDC's own fees out of the administration charge and put s. 81.4 wage claims ahead of Mobilicab's charges.
Case update
Original Traders Energy: the yacht nets about US$195,552
KPMG's Seventeenth Report says the US$1.3 million sale of the Cuz We Can, delayed by an incorrectly registered Cayman mortgage and closed with a US$75,000 credit, left about US$195,552 after about US$899,448 of third-party expenses and the broker's commission. Glenn Page, it says, intends to assert an interest in the money.
Case update
Renson Transport: $150 a day, and 19 vehicles the receiver wants back
The receiver's first report recommends an order requiring S&S Truck & Trailers Services to surrender 19 tractors and trailers Renson owned or leased, which the repair business put in its own name in January 2025. S&S's notices claimed approximately $317,687.21, about $183,060 of it storage; the receiver says S&S has not established valid liens.
Case update
Stornoway: a $12 million option on Renard, and a stay to October 2027
The monitor received $12 million from Li-FT Power on June 25 for a two-year option on the Renard diamond mine; paying it to the secured creditors depends on Québec deferring the site's rehabilitation. The dismantling tender was halted, and on October 15 the stay was extended, without a hearing, to October 15, 2027.
Case update
A2A: selling Angus Manor without a special resolution
Hill Valley Estates Inc. agreed on August 31 to buy the 167-acre Angus Manor lands, then raised concerns about future zoning and, the monitor says, proposed amending the price "downward significantly"; the final price is redacted. The monitor asks Justice Feasby, on October 22, to approve the sale without the co-owners' 66.6% special resolution.
Case update
Cannabist: a section 11.3 motion for the consent Sugarloaf withheld
Cannabist's Maryland sale is conditional on Sugarloaf's consent, or a court order, to assign a Rockville dispensary's management agreement and a US$100 option to buy its licence holder. Sugarloaf refused on September 16 and 29 without written assurances from Maryland's regulator; the applicants' October 14 motion seeks a s. 11.3 CCAA order, return date not set.
The Cannabist Company Holdings Inc. and The Cannabist Company Holdings (Canada) Inc.
Case update
Cash Today: 256 loans on the ledgers, 44,137 on the data tape
MNP's first report found three active loan ledgers holding 256 loans, against 44,137 loans and $228,685,520 on the data tape Cash Today gave Grow Capital Two for December 31, 2025. Grow Capital Two now asks for full receivership powers, three bankruptcy orders and a six-week freeze on related parties' property.
Case update
Comfort Smart Homes: Peakhill's terms for letting a buyer assume its mortgages
Peakhill's October 1 letter confirmed continued CMHC insurance as a condition of its consent to an assumption, and estimated CMHC would need two to three months. Concerned an assumption might not close within the NOI's six months, the trustee and Comfort explored a share deal, which Ridgeway declined; Comfort seeks a stay to November 30.
Outcome brief
Freshstone: the reverse vesting order, granted on a third affidavit
On October 14, Justice W.D. Black granted the reverse vesting order for Freshstone Brands' transaction with its chief executive, twelve days after declining to. A third affidavit had supplied the licensing statute, a CFIA service standard of 70 business days and the identity of the investor's tax adviser.
Outcome brief
Sandvine: a termination order, and no 'tip on the way out' for the purchaser
On October 14, 2026, Justice Dunphy granted the order that ends Sandvine's CCAA once the monitor serves its certificate, but "balked" at extending the releases to the purchaser that had provided post-closing services. The signed order releases the monitor, its counsel and the debtors' counsel; the draft had also named the AppLogic entities and the sole director.
Filing brief
Somex: Desjardins redirected the rents in April and got a receiver in October
Caisse Desjardins de Québec says the developer of a 13-storey rental in Lévis owed it at least $58,727,985.41 at September 11, has not made the $9,556,697 equity injection it undertook to make by May 31, 2025, and has lost control of the building. On October 13 the Superior Court appointed Ernst & Young receiver.
Case update
The Simple Investor: condo owners ask for an administrator
SIREG Management has told unit owners it will surrender its tenancies. The companies, consulting their trustee, have determined funding for operations or employment will be inadequate beyond about October 16, the date the trustee planned to seek for a motion enabling bankruptcy assignments. Owners' motion for an administrator was narrowed after objections in 13 condominiums.
The Simple Investor Real Estate Group Inc. and related entities