Receivership Proceedings

​Receivership Proceedings of Victoria Avenue North Holdings Inc. and The Parties Listed on Schedule "A".

On August 3rd, 2021 by Order of the Ontario Superior Court of Justice (Commercial List) (the "Receivership Order"), KPMG Inc. was appointed receiver and manager ("KPMG" or the "Receiver") of, among other things, Victoria Avenue North Holdings Inc., which owns the buildings located at 304 Victoria Avenue North and 414 Victoria Avenue North (the "Properties"), pursuant to section 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and under Section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43.

Schedule A [PDF 59 KB]

Sale Process

On October 29, 2021, the Court granted an order, which among other things, approved:

  • the Receiver's engagement of CBRE as listing broker to assist the Receiver in the marketing and sale of the primary assets of the Legal Owner (being 2 medical office buildings); and
  • the Sale Process, as appended to the order.

Any parties interested in purchasing the assets of the Legal Owners may contact the Broker or the Receiver. The contact details of the Broker can be found directly below. A copy of the Sale Process is posted in the "Sale Process" section of this website, below.

Broker contact

CBRE Limited
Michael.Bellissimo@cbre.com
Jordan.Lunan@cbre.com

Town Hall

The Receiver will be holding a meeting (the "Town Hall") in respect of the Victoria Avenue North Holdings Inc. and the Southmount Et Al. receivership proceedings (the "Proceedings"). The purpose of the Town Hall is to provide parties claiming a beneficial ownership interest in the properties subject to the Proceedings an update on the Proceedings and the anticipated net proceeds of same, and to offer an opportunity for parties to raise questions directly with the Receiver. The coordinates of the Town Hall are included in the Notice of May 18, 2022 Town Hall attached below.

Parties who wish to join the meeting must register with the Receiver at victoriaholdings@kpmg.ca.

Bankruptcy Proceedings

Victoria Avenue North Holdings Inc. (“Victoria Avenue”) filed an assignment on the 20th day of June, 2023 and KPMG Inc. was appointed as Trustee of the estate of the bankrupt by the official receiver, subject to affirmation by the creditors of the Trustee’s appointment or substitution of another Trustee by the creditors.

The first meeting of creditors of Victoria Avenue will be held on July 6, 2023 at 10:00 am EST via virtual meeting at phone conference ID: 145929322#, Tel: 647-794-1236.

Contact information

Court Materials

Application Record dated July 9, 2021 - Part 1 of 4 [PDF 6.2 MB]

Application Record dated July 9, 2021 - Part 2 of 4 [PDF 9.4 MB]

Application Record dated July 9, 2021 - Part 3 of 4 [PDF 7.7 MB]

Application Record dated July 9, 2021 - Part 4 of 4 [PDF 2.4 MB]

Factum of the Applicants dated August 3, 2021 [PDF 139 KB]

Motion Record of the Receiver dated September 7, 2021 [PDF 2.5 MB]

Motion Record of the Receiver dated October 22, 2021 [PDF 1.6 MB]

Factum of the Receiver dated October 27, 2021 [PDF 77 KB]

Motion Record of the Receiver dated May 13, 2022 [PDF 1.6 MB]

Supplementary Motion Record of the Receiver dated May 20, 2022 [PDF 672 KB]

Joint Factum of the Receivers dated May 21, 2022 (Blake, Cassels and Graydon LLP) [PDF 378 KB]

Joint Factum of the Receivers dated May 21 2022 (Norton Rose Fulbright Canada LLP) [PDF 480 KB]

Revisions to the Motion Record of the Receiver dated May 24, 2022 [PDF 349 KB]

Motion Record of the Receiver dated October 4, 2022 [PDF 2.1 MB]

Book of Authorities of the Receiver dated October 11, 2022 (Norton Rose Fullbright Canada LLP) [PDF 1.1 MB]

Factum of the Receiver dated October 11, 2022 (Norton Rose Fullbright Canada LLP) [PDF 429 KB]

Factum of the Receiver dated October 11, 2022 (Blake, Cassels and Graydon LLP) [PDF 253 KB]

Responding Motion Record of the Receiver dated January 24, 2023 [PDF 2.4 MB]

Motion Record of the Receiver dated February 23, 2023 [PDF 1.3 MB]

Motion Record of the Receiver dated May 18, 2023 [PDF 1.3 MB]

Factum of the Receiver dated May 25, 2023 (Distribution) [PDF 662 KB]

Factum of the Receiver dated May 25, 2023 (Sale Approval, etc.) [PDF 310 KB]

Bankruptcy – Victoria Avenue North Holdings Inc.

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