Pursuant to an Order made by
the Ontario Superior Court of Justice (the “Court”) on May 26, 2010, Deloitte
Restructuring Inc. (formerly, Deloitte & Touche Inc.) was appointed as
receiver and manager (the “Receiver”) of certain assets, properties and
undertakings of Tuesday Equities Ltd. and Prince Royal Limited Partnership (the
"Debtors"), which assets include Hidden Valley Resort, The Benmiller
Inn & Spa and The Elora Mill Inn & Spa (the “Hotels”).
By an Order dated June 17,
2010, the Court approved the Receiver’s marketing plan for the sale of the
Hotels. The Receiver has since sold substantially all of the Debtors’
assets which are subject to its administration, including the Hotels.
There will be a significant shortfall to the primary secured lender on its
advances to the Debtors, and accordingly, the Receiver is of the view that
there will be no funds available for distribution to the other secured and
unsecured creditors of the Debtors.
By Order dated January 11,
2018, the Court approved the discharge of Deloitte Restructuring Inc. as
Receiver of the Debtors.
If you require further information, please contact Stefano Damiani at 416-874-4404 or firstname.lastname@example.org.
Dec 8, 2020