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 Jorden Sleeth at 416-775-8858 or jsleeth@deloitte.ca.
Last updated Sep 11, 2023
