Insights
The archive, newest first — posts 176–200 of 719. The 8 most recent are on the front. ← The newest analysis
Case update
Waterloo Innovation Network: a 3.06% loan and a third of the buyer
Fuller Landau seeks approval on October 30 of a reverse vesting deal giving Hyperion Compute Corp. all the shares of 176 Columbia Street West's owner, keeping a 13 MW power application with that company. Ninepoint would leave part of its debt there at 3.06% for 36 months and, with associated entities, hold 33.33% of Hyperion.
Outcome brief
Anderson Square: the proposal withdrawn, without a deemed bankruptcy
On October 6, Justice Stephens ordered the Richmond developer's NOI and both proposals deemed withdrawn, ending the BIA stay without deeming it bankrupt; Deloitte's Fourth Report had called the company solvent, with $33.5 million in cash at July 31. A second order approved Deloitte's fees and discharged it as proposal trustee.
Outcome brief
Bridging Finance: the $213 million guarantee claim stays disallowed
On October 6, Justice Kimmel dismissed CERIECO Canada's appeal from the Claims Officer's decision upholding PwC's disallowance of its $213 million claim against Bridging Income Fund on a 2017 guarantee of the loan for The One, finding no palpable and overriding error, refusing its fresh evidence and leaving the Claims Officer's $1,800,345.44 costs award in place.
Case update
Island Fishermen's: a proposed sale process, without the WhiteCap shares
The Lamèque co-operative's members voted unanimously on September 28, it told the monitor, for a monitor-run sale. The proposed process would take bids until January 14, 2027 and leave out six holdings, among them the WhiteCap and Atlantic Queen shares, where the company and the monitor are concerned that disputes could delay approval.
Case update
Jefferson Properties: receiver says Tarion drew on the wrong letter of credit
Tarion drew $1,846,001.10 on a $2.4 million letter of credit to cover deposit claims by buyers of Richmond Hill Grace's freehold townhomes. The receiver says the credit was posted for the 60 stacked condominium units, that the vendor agreement limited it to them, and that the draw should be unwound; the hearing is March 9, 2027.
2011836 Ontario Corp. and Jefferson Properties Limited Partnership
Case update
Collège LaSalle: Quebec gets leave to appeal the full-allocation order
On October 6 Justice Alexandre Boucher of the Quebec Court of Appeal gave the Attorney General leave to appeal the order that the government pay Collège LaSalle its full $31.8 million 2026-2027 initial allocation without set-off, finding the appeal raises questions on a CCAA judge's powers with respect to the State's prerogatives in managing and allocating public funds.
Outcome brief
Olive Branch: a factum on Monday, an unopposed sale on Tuesday
On October 5 the debtors, the buyer approved in June and its principal called the $4,850,000 sale to Kosher Grocers, a party related to lender 770 Corp., in substance a credit bid. The next day they withdrew; Justice Dietrich approved the sale and authorized distributions to 770 Corp. up to its debt, forfeit deposit included.
Case update
Ashcroft Homes: the 13 unencumbered units and the vacant head office
AlixPartners assigned the company that owned the ReStays building into bankruptcy on September 15, a step it had proposed to reverse any priority of a potential $351,715 HST deemed-trust claim. The estate's sole asset is $2,471,500 of the price allocated to 13 units over which CMLS held no security; on October 2 Justice Mew approved the head office sale, price sealed.
Case update
Eagle View Heights: Panorama's fixed price and the lender's objection to Kindred
FTI Consulting, as monitor, asks the court, at a hearing set for October 7, to approve a $3,819,732 fixed-price contract, before GST, for a Panorama West Group subsidiary to finish the 63-home Gibsons project. The interim lender, FTI reports, would oppose any go-forward proposal involving Kindred Construction, the incumbent general contractor.
Case update
Everwood: a $3.9 million forced-sale value and a proposal of up to $303,571
Against an appraised $3.9 million forced-sale value for the rest of the Everwood site and about $4.64 million of Envision's secured debt, FTI says affected creditors would likely receive no dividend in a bankruptcy and recommends they support a proposal of up to $303,571, an average of 15 cents on the dollar by its count.
Case update
IGY Life Sciences: 65 parties, three letters of intent, no qualified bid
Alvarez & Marsal's sale process for the Airdrie antibody developer drew three letters of intent and no qualified bid by an extended August 31 deadline. The receiver has ended it, held discussions with auctioneers and commercial real estate professionals, and asks to double its fully drawn $500,000 borrowing charge, a request it says Farm Credit Canada supports.
Case update
Long Run: the receiver's exit, and a one-page form for CCB's counsel to sign
Against an estimated $380 million of abandonment and reclamation obligations and under $29 million of gross sale proceeds, PwC says no secured creditor will receive a distribution. On October 14 it asks for its own partial discharge and an order directing China Construction Bank's counsel to cancel the bank's fixed charges. CCB objects, the receiver reports.
Outcome brief
Freshstone: the reverse vesting evidence the judge found wanting
At the October 2 hearing, Justice W.D. Black did not grant Freshstone Brands the reverse vesting order for its chief executive's credit bid. His October 5 reasons describe the licence evidence as "in the nature of hearsay from an unidentified source"; he did not dismiss the request, and Freshstone may return with proper evidence.
Case update
San Industries: the Vernon Bay logs and the order for HTS's records
On October 5, 2026, Justice Stephens directed Probyn Log Ltd. to pay the San Group's monitor at least $153,278 and ordered HTS Forest Products Ltd.'s bank and business records produced, after Deloitte identified $2,467,500 paid to Probyn in connection with a logging project whose logs were processed at a petitioner's mill.
Case update
Baffinland: the lenders' answer on who picks the winning bid
Export Development Canada, which says about US$230 million of its DIP has been advanced, told the court on October 2 that a sale process not reasonably acceptable to it is a material default. For the October 9 hearing, the noteholders' committee says the shareholder-appointed operating committee is "playing chicken" with the lender.
Case update
National Traffic Safety: a purchase price in seven parts
An October 2 agreement would sell the business to A2 Environmental Group, the sole director's company, for the sum of seven amounts, among them Oxygen's term loan, CRA source deductions and employee claims. It needs court approval and an agreement with the LIUNA locals, one of which opposed the extension the company first sought in September.
Outcome brief
Bibi Maryam: a sale approved in Toronto, a claim against TD in Oshawa
On October 2, Justice Cavanagh approved Fuller Landau's sale of 22 King Street West in Oshawa under the Soundair principles, with the price sealed. Ten days earlier the company and its principal had sued TD in Oshawa seeking, among other relief, an injunction against that sale; the endorsement does not mention the claim.
Case update
Crystallex: a claim in US dollars and an answer at the 2011 exchange rate
Crystallex's noteholder trustee claims US$505,459,631.66 on the notes through July 13, 2026, the US$188,198,213.88 proven under a 2013 standstill order plus US$317,261,417.78 of interest on it since the end of 2015. The independent director allows none of that interest and converts the amount allowed to Canadian dollars at the 2011 filing-date rate.
Case update
Hazelton Development: the RVO waits, and the sureties dispute the $802,000 split
Justice Kimmel adjourned the monitor's motion to approve Firm Capital's subscription agreement to a 90-minute hearing on October 22 and extended the stay, which had expired the day before, to October 31. Aviva and Westmount, who advanced $350,000 for the sale process, argue the deal's $802,000 in cash should follow the court-ordered charges.
Case update
Ontario Tire Stewardship: from the stewards to the PROs
Ontario's environment minister has directed Ontario Tire Stewardship to amend its wind-up plan so that surplus funds are paid by the tonne to producer responsibility organizations, for processed tires covering a rise in the management target from 65 to 80 per cent. The liquidator last reported $31,390,974 in trust, in April 2024.
Case update
The Manderley: brokers must repay $111,674.10 on sales that failed to close
Justice Conway on October 1 ordered three brokerages to repay $111,674.10 in commission advances on seven suites by October 16, holding them to agreements that require repayment if a sale fails to close "for any reason whatsoever," and authorized distributions to the lenders from the November 5 claims bar date, subject to reserves.
Nova Ridge (Manderley) Limited Partnership and Nova Ridge (Manderley) GP Corp.
Case update
Trinity Automotive: two directors removed and a CRO appointed
On October 1 Justice Black removed Boban James, the dealership group's sole shareholder, and Godshi Boban as directors, calling the explanation Mr. James echoed for $769,659.95 of pre-filing transfers "wanting". His orders also appoint FAAN Advisors as CRO, extend the stay to November 27 and raise BMO's interim financing limit to $5 million.
Case update
Asbestos Corporation: counting the claims after the bar date
By the monitor's preliminary, unaudited count, about 38,755 proofs of existing asbestos claims arrived by the September 10 bar date, about 86.2% of them from two U.S. law firms, which told the monitor that more than 12,000 are "placeholder" claims their clients had not signed by the deadline. The co-applicants ask that the monitor be allowed to accept late claims case by case.
Case update
Flato: two sale processes, eight addresses, no full creditor list
TDB Restructuring's first report describes mostly vacant land and seven houses across eight addresses, one with mould whose remediation appears disproportionate to its value, and no full creditor list or bank details from the debtors. On October 6 it asks approval to market all of it unpriced on MLS, through CBRE and Cushman & Wakefield.
Outcome brief
Kimberley Crossing: the build-out became a $7.5 million as-is sale
Peoples Trust's claim stood at $17,232,501.56 when D. Manning took over the Kimberley rental project in May 2025; the receiver had the firestopping behind a city stop-work order corrected and the buildings made weathertight. After Peoples said it would not finance completion, the site sold as is for $7,500,000, and the receiver now proposes its discharge.