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
victoriaholdings@kpmg.ca
416-777-8214
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]
Court Orders
Substitued Service Order dated July 12, 2021 [PDF 220 KB]
Receivership Appointment Order dated August 3, 2021 [PDF 383 KB]
Endorsement of Justice Koehnen dated August 3, 2021 [PDF 180 KB]
Beneficial Owner Notification & Service Order dated September 14, 2021 [PDF 293 KB]
Endorsement of Justice Koehnen dated September 15, 2021 [PDF 9 KB]
Order (Approval of Broker, Sale Process and Ancillary Matters) dated October 29, 2021 [PDF 161 KB]
Endorsement of Justice Koehnen regarding Broker Engagement, Sale Process & Ancillary Matters Order [PDF 256 KB]
Approval and Vesting Order dated May 24, 2022 (Victoria) [PDF 192 KB]
Distribution and Ancillary Matters Order dated May 24, 2022 [PDF 158 KB]
Endorsement of Justice McEwen dated September 15, 2022 [PDF 367 KB]
Approval and Vesting Order dated October 14, 2022 (304 Victoria) [PDF 305 KB]
Distribution and Ancillary Matters Order dated October 14, 2022 [PDF 271 KB]
Lift Stay Order dated February 8, 2023 [PDF 177 KB]
Lift Stay Order Endorsement dated February 8, 2023 [PDF 889KB]
Distribution and Ancillary Matters Order dated March 2, 2023 [PDF 334 KB]
Endorsement of Justice Penny dated March 2, 2023 [PDF 226 KB]
Approval and Vesting Order dated May 30, 2023 [PDF 222 KB]
Discharge, Distribution and Ancillary Matters Order dated May 30, 2023 [PDF 204 KB]
Endorsement of Justice Osborne dated May 30, 2023 [PDF 313 KB]
Court Reports
Pre-Filing Report of the Proposed Receiver dated July 26, 2021 [PDF 224 KB]
First Report of the Receiver dated September 7, 2021 [PDF 2.1 MB]
Second Report of the Receiver dated October 22, 2021 [PDF 876 KB]
Third Report of the Receiver dated May 13, 2022 [PDF 1.3 MB]
Supplement to the Third Report of the Receiver dated May 20, 2022 [PDF 612 KB]
Fourth Report of the Receiver dated October 4, 2022 [PDF 1.7 MB]
Responding Report of the Receiver dated January 23, 2023 [PDF 1.7 MB]
Fifth Report of the Receiver dated February 23, 2023 [PDF 682 KB]
Sixth Report of the Receiver dated May 18, 2023 [PDF 840 KB]
Notice and Statement of the Receiver
Service List
Service List as at February 9, 2024 [PDF 21 KB]
Sale Process
Receiver's Certificates
Town Hall
Notice of May 18, 2022 Town Hall [PDF 238 KB]
Bankruptcy – Victoria Avenue North Holdings Inc.
Notice to Creditors (Victoria Avenue) [PDF 1.3 MB]
Proof of Claim (Victoria Avenue) [PDF 56.4 KB]
Proxy (Victoria Avenue) [PDF 29.6 KB]
Trustee's Preliminary Report (Victoria Avenue) dated July 6, 2023 [PDF 142 KB]
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