​​​​​​​​​​​​CCAA

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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"). 

On September 15, 2022, the Court issued an Approval and Vesting Order, which among other things, approved a sale transaction for Trinity's primary asset - the development lands located at 1256 Markham Rd to 1256 Markham Road Limited Partnership (by its general partner 1000307599 Ontario Incorporated). The sale transaction closed effective September 26, 2022. 

Also on October 12, 2022 the Monitor filed a Discharge Certificate with respect to the CCAA proceedings. ​

Bankruptcy

Please be advised that on October 12, 2022 Trinity Ravine Community Inc. (the “Company") made an assignment in bankruptcy. Deloitte Restructuring Inc. has been appointed as trustee in bankruptcy (the “Trustee") of the Company's estate. A claims package will be sent separately by the Trustee with specific details on this process and what is required from the creditors.

Transfer at Undervalue ​

On April 12, 2023 the trustee filed a motion to recover on behalf of the estate a Transfer at Undervalue in respect of the transfer of the Southern Land, municipally known as 1250 Markham Road, Toronto ON by Global Kingdom Ministries Inc., now Trinity Ravine Community Inc. (“GKM" or “TRC") to Global Kingdom Ministries Church Inc. (“GKMC"). The Trustee has filed its report in respect of the Transfer at Undervalue.

A timetable has been set out and agreed for this litigation, which is as follows:

1. Trustee to file its report in respect of the Transfer at Undervalue - January 15, 2024 (Refer the file under heading no 3 - Trustee's Report on Transfer at Undervalue)​
   
2. GKMC responding affidavits and expert report(s) – February 22, 2024 (Refer the file under heading no 6 - GKMC responding affidavits and expert report(s) )​
3. Trustee reply evidence, if any – March 21, 2024 (Refer the file under heading no 3 - Trustee's Report on Trustee reply evidence)​
4. Cross-examinations – by April 19, 2024
   
5. Trustee factum – May 2, 2024​
   
6. GKMC factum – May 9, 2024
7. Trustee reply factum, if any – May 15, 2024; and
8. Hearing to be approximately 1.5 days from May 23 – May 24, 2024

The Trustee's report on the Transfer at Undervalue is attached here: https://www.insolvencies.deloitte.ca/en-ca/Documents/en-ca-insolv-TRC-TrusteesReportonTransferatUndervalue.pdf

​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 Bankruptcy Trustee 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 Deloitte at trinityravine@deloitte.ca or call  416-202-2800.