Receivership Proceedings of Southmount Healthcare Centre Inc., 180 Vine Inc., 2478658 Ontario Ltd., 2009 Long Lake Holdings Inc., 65 Larch Holdings Inc., 100 Colborne Holdings Inc., 240 Old Penetanguish Holdings Inc., Gross Properties Inc., 180 Vine Purchaser Inc., and 2413667 Ontario Inc.

On June 29th, 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, i) Southmount Healthcare Centre Inc., 180 Vine Inc., 2478658 Ontario Ltd., 2009 Long Lake Holdings Inc., 65 Larch Holdings Inc., 100 Colborne Holdings Inc., 240 Old Penetanguish Holdings Inc. (collectively, the "Legal Owners"), and ii) Gross Properties Inc., 180 Vine Purchaser Inc., and 2413667 Ontario Inc. (collectively, the "Beneficial Owners", and together with the Legal Owners, the "Debtors"), but solely in respect of all of the Beneficial Owners' right, title and interest in and to the Legal Owners property, 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.

Sale Process

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

(i) 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 Owners (being 7 medical office buildings, and one parking lot); and

(ii) the Sale Process, as appended to the order.

Pursuant to the Sale Process, once the Receiver, in consultation with CBRE, determines an initial bid deadline, details of such deadline will be posted to this website. Any parties interested in purchasing the assets of the Legal Owners may contact CBRE or the Receiver. A copy of the Sale Process including contact details of CBRE is posted in the "Sale Process" section of this website, below.

Contact information

southmountetal@kpmg.ca

416-777-3978

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