2513036 Ontario Ltd.

2513036 Ontario Ltd., which operated as a Sport Clips franchise from a leased location in Ajax, Ontario, was deemed bankrupt on May 5, listing approximately $204,000 in liabilities. The Company previously filed an NOI on April 25, but failed to file the projected cash flows within the 10-day period and was deemed bankrupt. BDO is the bankruptcy trustee and previously acted as the proposal trustee. By Dina Milivojevic

1982844 Alberta Ltd.

1982844 Alberta Ltd., which operated as an overhead door company within central Alberta, filed an assignment in bankruptcy on April 7, listing assets of approximately $1.4 million and liabilities of approximately $1.65 million, including $1.4 million to TD Bank. As a small, family-owned business, the company was affected by the COVID-19 pandemic, and was unable to obtain the sales volumes required to generate sustainable cash flow. In late January, the company (under its previous legal name of On Demand Holdings Ltd.) sold its business an entity related to Wolfe Creek Building Supplies Ltd. The APA excluded, among other things, the purchase of real property owned by the company and the assumption of certain debt owning to TD Bank and CRA. The sale proceeds were paid to TD Bank. Grant Thornton is the bankruptcy trustee. By Dina Milivojevic

10542113 Canada Inc. & Flora I Ltd.

10542113 Canada Inc. & Flora I Ltd., Montreal, Quebec-based development companies, had a receiver appointed on March 30, on application by Romspen Investment Corporation, owed $21,682,685.87 as at December 31. Another purported creditor, 9186-9297 Québec Inc. (“Upbrella”), had brought a competing CCAA application, which Romspen opposed on the basis that the companies were single purpose real estate entities and the proposed CCAA proceedings amounted to no more than a liquidating CCAA. MNP was appointed as receiver. Counsel is Fishman Flanz for Romspen. By Dina Milivojevic

Sunwave Gas & Power Inc.

Sunwave Gas & Power Inc., a North York, Ontario-based provider of energy commodity products and services, filed an assignment in bankruptcy on February 23, listing approximately $13.2 million in liabilities, including approximately $12 million to ONEnergy Inc., its publicly-traded parent company. In 2015, the Ontario provincial government placed restrictions on door-to-door sales of utility related products and services. This negatively impacted the company’s ability to market its products. After suffering losses since the third quarter of 2017 due to volatility in wholesale energy prices, significant working capital commitment and weather issues, the company formally began marketing itself for sale. The US based division was sold to C Wave Inc. (“C Wave”) in 2019 for US$3.6 million plus working capital. On closing, the working capital was negative US$4.3 million resulting in a payable to C Wave for approximately US$700,000. Demand was made by C Wave for payment of this debt in February 2021 and again 2022. The company was without funds to pay the debt to C Wave. Farber is the bankruptcy trustee. By Dina Milivojevic

1188308 B.C. Ltd.

1188308 B.C. Ltd., the owner of a commercial property comprised of a community shopping centre known as Maple Park Shopping Centre located in Quesnel, British Columbia, was placed in receivership on February 22, on application by 0891701 B.C. Ltd. (the “Petitioner”), which holds a mortgage on the property. The company has failed to maintain property and liability insurance, in breach of the terms of the mortgage. In addition, the Petitioner has received correspondence from the City of Quesnel and its fire department outlining several issues with the maintenance of the property, including fire code violations. The Petitioner has also discovered that there are significant tax arrears owing on the property, and that the company has been receiving rent from a tenant, contrary to its representations to the Petitioner. The Bowra Group was appointed receiver. Counsel is Norton Rose for the Petitioner. By Dina Milivojevic

Legacy Lifestyle Destin Limited Partnership and certain other companies

Legacy Lifestyle Destin Limited Partnership and certain other companies had five of their Florida properties placed in receivership on February 11 on application by various investors in the properties. It is hoped that the receiver will be able to refinance the properties rather than sell them over the next six months, resulting in enhanced value to investors. The receiver will retain Cohen Hamilton Steger & Co. as an inspector to examine how the investors’ funds have been spent. Zeifman was appointed receiver. Counsel is Zweig Estate Litigation, Millars Lawyers and Bresver Grossman Chapman & Habas for various investors; Katzman Litigation for certain intervening investors; Dentons for the receiver; and Cassels for the inspector. By Dina Milivojevic

2545174 Ontario Inc.

2545174 Ontario Inc., the owner of a property municipally known as 478-494 Kingston Road, Pickering, Ontario, was placed in receivership on application by Equityline Mortgage Investment Corporation and certain other creditors, collectively owed approximately $9.0 million. The property consists of a gas station with a Tim Hortons kiosk and a three storey office building. The company was previously put into receivership in 2019 after it failed to repay the indebtedness owing to Centurion Mortgage Capital with respect to a commercial loan that had matured. The company was able to execute a refinancing plan and have the receiver discharged in 2020. Further defaults have occurred, however, and the current consortium of lenders sought the reappointment of a receiver so that the property can be sold through a court-supervised sales process. BDO was appointed receiver. Counsel is Robins Appleby for the applicant, David Seed for the company and Schneider Ruggiero for iCapital Financial Services Corp.. By Dina Milivojevic

Saptashva Solar S.A.

Saptashva Solar S.A., a Spanish corporation that is extra provincially registered in the Province of Ontario with offices in Madrid, Spain and Concord, Ontario, was placed in receivership on January 24, on application by 1199403 Ontario Inc., 1274442 Ontario Inc., and Gulu Thadani (collectively, the "Lenders"). The company owns and operates nine solar projects comprised of physical structures along with corresponding revenue generating Feed-in-Tariff Contracts granted by the Ontario Power Authority (now known as the Independent Electricity System Operator). The Lenders advanced two loans to the company in 2014 and 2015. The purpose of these loans was for the construction, reconstruction, and repair of solar projects that were damaged by a windstorm in respect of which the company required an advance on an insurance claim in order to ensure that the solar projects were made operational. Although the exact amount owing to the Lenders under the loans is in dispute, there was evidence before the Court that at least $400,000 plus interest was advanced and is owing. Ira Smith Trustee & Receiver was appointed receiver. Counsel is Stephen M. Turk for the Lenders and Morrison Law for the company.

Areacor Inc.

Areacor Inc., the owner of property municipally known as 15 Cannon Street West, Hamilton, Ontario, was placed in receivership on January 13, on application by MarshallZehr Group Inc. ("MarshallZehr"), owed approximately $6.9 million. The company acquired the property to develop it as a six-storey condominium project consisting of 40 residential units and commercial space on the ground floor. In 2018, MarshallZehr agreed to provide financing to the company to refinance its existing land loan and provide construction financing for the development. The construction of the development was initially estimated to be completed by November 2019. However, the development experienced significant delays and construction effectively ceased in June 2021. RSM was appointed receiver. Counsel is Chaitons for MarshallZehr and RAR Litigation Lawyers for the company. By Dina Milivojevic

Sonact Group Ltd.

Sonact Group Ltd., a Montréal, Québec-based company, was adjudged bankrupt on January 5, on application by Premuda SPA, an Italian maritime freight transportation business. In 2015, Premuda obtained an arbitration award and costs in the UK against the company for demurrage and heating costs which had accrued under a charterparty in connection with Premuda's charter of a vessel to the company to carry a cargo of fuel oil from Kavkaz to Nakhodka, Russia. Following an unsuccessful appeal, the company owed approximately $1.25 million to Premuda. After making various unsuccessful demands for payment and attempting to enforce the arbitration award and costs awards, Premuda brought a bankruptcy application. MNP is the bankruptcy trustee. Counsel is Clyde & Cie Canada for Premuda. By Dina Milivojevic