2220277 Ontario Inc. (650 Bay)

On August 1, 2017, A. Farber & Partners Inc. became the Court-appointed receiver (the “Receiver“) pursuant to section 243(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c.B-3, as amended (the “BIA“) and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43, as amended (the “CJA“), over all of the assets, undertakings and properties (the “Property“) of 2220277 Ontario Inc. pursuant to an Order (the “Appointment Order“) of the Honourable Justice Mesbur of the Ontario Superior Court of Justice (Commercial List).

Status Updates

A. Farber & Partners Inc., in its capacity as Court-appointed of 2220277 Ontario Inc (“222”), offered for sale on an “as-is, where-is” basis, the right, title and interest of 222 in and to the Real Property known municipally as 55 Elm/650 Bay Street, Toronto, Ontario, under a sale process approved by the Ontario Superior Court of Justice (the “Sale Approval Order”).  The Sale Approval Order included a Court-approved stalking horse bid of $12,000,000 (the “Stalking Horse Bid”) which was approved by the Court and was scheduled to close on February 28, 2018.

The Stalking Horse Bid transaction did not close and the Receiver will be re-marketing the Real Property.  The revised sales process is set out in the “Notice of Motion including Eighth Report – March 29, 2018” below and is scheduled to be in Court for approval on April 12, 2018.

Creditor or Employee Inquiries

For creditor or employee inquiries, please contact:
John Hendriks
T: 416.496.3701
E: jhendriks@farbergroup.com

The case updates and court filed documents on this website are for information purposes only and you should consult your financial or legal adviser if you have any questions or concerns about your rights or obligations. Additional updates on the status of these proceedings may become available in the future.


Court Reports

Motion Materials 

Court Orders & Endorsements

Service List

Sales Process