1598490 ONTARIO LIMITED

The Deloraine Residences
3443 Bathurst St., Toronto, ON

On March 28, 2013, ISI was privately appointed the Receiver over the assets, properties and undertakings of the Company. Based on the findings of the privately appointed Receiver, an application was made to the Ontario Superior Court of Justice (Commercial List) which was heard on May 24, 2013. By Order of the Honourable Madam Justice Mesbur dated May 24, 2013, the private appointment of the Receiver was converted into a Court appointment whereby the Court will supervise the administration of the receivership proceedings. The Receiver is currently managing the property and formulating its plan for the sale of the asset.

The Deloraine Residences is comprised of a six storey 23 unit residential condominium building which is at an advanced stage of construction. By Order of the Honourable Mr. Justice Newbould dated August 16, 2013, the Receiver obtained Court approval for a Court supervised sales process.

Receivership

• Motion Record - 10 May 2013
• BIA Report - Notice and Statement - 19 April 2013
• Receiver’s First Report to Court - 2 August 2013
• Receiver’s Second Report to Court – 28 November 2013
• Receiver’s Third Report to Court – 14 March 2014
• Receiver’s Fourth Report to Court – 16 April 2014
• Receiver’s Fifth Report to Court – 24 September 2014
• Receiver’s Sixth Report to Court – 26 March, 2015

Court Matters

• Receivership Appointment Order - 24 May, 2013
• First Report and Sales Process Approval Order - 16 August, 2013
• Approval, Vesting and Distribution Order – 6 December 2013
• Third Report Approval Order - 18 March, 2014
• Fourth Report Approval Order - 22 April, 2014
• Fifth Report Approval Order - 30 September, 2014
• Sixth Report Approval Order - 27 March, 2015

Sales Process

• Advertisement in The Globe & Mail Report on Business – 3 and 5 September 2013

All documents are in Acrobat/PDF format - free reader available HERE.