Recent filings

Quebec Court appoints Deloitte receiver of DMB Food Distribution

Food distributor ceased operations after a sale process involving 156 potential investors failed to produce a viable going-concern transaction

Timbercreek credit bids to take over Calgary office tower

MNP was appointed receiver over Life Plaza and obtained same-day approval to sell the 17-storey downtown property to its secured lender after a pre-filing marketing process produced no acceptable third-party offer

Ottawa residential lot developer Onassa placed into receivership

Court authorizes streamlined sales process for 26 serviced lots after more than $8.5 million in secured debt went unpaid

Finstar Group stays in receivership, portfolio for sale

Justice Luc Morin found the developer’s liquidity insolvency, repeated defaults and fragmented creditor enforcement made a court-supervised sale necessary

Field Aviation gets DIP, sale process approval in BIA proposal proceedings

Ontario court approves US$2.5 million Wells Fargo DIP facility and stalking horse process anchored by a US$6.5 million bid from De Havilland and PAL Aerospace

Receiver appointed over Roadx Trucking Group after collateral search concerns

Justice Myers said a court-supervised process was needed to protect and preserve rolling stock collateral amid competing secured claims, unknown truck and trailer locations, and concerns over access to the debtors’ records

Freshstone Brands gets CCAA protection after prepared meals business hit by cost inflation, lower volumes

Ontario court approved an initial stay, Deloitte as monitor and access to $1.6 million of DIP financing, as the company prepares to seek approval of a SISP for its remaining business and assets

Eagle View Heights developers get CCAA protection to finish Gibsons Project

Paystone enters CCAA with insider sale planned after billing error, debt-funded growth

Payment processing company seeks approval of insider sale that would reduce senior debt from more than $92 million to $60 million

BDO appointed receiver over Burlington lakeshore development site

TD moved to enforce after defaults tied to undeveloped land earmarked for a proposed 310-unit condominium project

MNP appointed receiver over Surrey West Village development lands

BNS sought receivership order after defaults under a $28.85 million credit facility tied to acquisition and pre-construction financing for a proposed 36-storey condominium project in North Surrey

Affordable housing builder Assembly files NOI, interim receiver also appointed

GlassRatner appointed proposal trustee and interim receiver as PaceZero-backed oversight structure allows Assembly to pursue project completion, trust payments and a potential proposal