Take notice that on February 23, 2022, Trinity Ravine Community Inc. (the "Applicant") sought and obtained protection pursuant to the Companies' Creditors Arrangement Act (the "CCAA") before the Ontario Superior Court of Justice (Commercial List) (the "Court").
Deloitte Restructuring Inc. has been appointed as monitor in the Applicant's CCAA proceeding (the "Monitor") pursuant to the Initial Order of the Court dated February 23, 2022 (the "Initial Order"). An Amended and Restated Initial Order was granted on March 4, 2022 (the “Restated Initial Order”).
Please be advised that the Restated Initial Order, among other things, provides for a stay of proceedings until July 22, 2022 (the "Stay Period"). The Stay Period may be extended by the Court from time to time.
On Friday March 4, 2022, the Court approved a Sale and Investment Solicitation Process ("SISP") with respect to the development land and/or the development project. The purpose of the SISP to ultimately monetize the assets thereby providing the Company with funds to pay back the creditors. The SISP, as described in the court materials and the Monitor's First Report, is currently underway.
In accordance with the SISP, a broker has been selected to be engaged by the Applicant to assist the Monitor with the implementation of the SISP. Avison Young is the selected broker and is actively marketing the development land and/or the development project. Interested parties can contact Avison Young directly for more information.
If you have any questions regarding this matter, please contact Deloitte Restructuring Inc. at the following address:
Deloitte Restructuring Inc. Attention: In its capacity as Court Appointed Monitor of Trinity Ravine Community Inc. Bay Adelaide East 8 Adelaide Street West, Suite 200 Toronto, ON M5H 0A9
Persons requiring further information not available on the Website should email the Monitor at trinityravine@deloitte.ca or call the Monitor's phone number at 416-202-2800.
If you have any questions regarding the sale, please contact Avison Young at the following addresses:
Nick Yanovski, AACIBroker, Principal416-843-5822nick.yanovski@avisonyoung.com
Sean WhelanSales Representative647-696-4647sean.whelan@avisonyoung.com
Last updated Apr 7, 2022
