Court File No. CV-16-11409-00CL ONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST THE HONOURABLE ) TUESDAY, THE 2" ) MR. _JUSTICE NEWBOULD __ ___ . ! ' p r -,:;--, ) DAY OF MAY, 2017 c i, , u „e . -... v ( N E,• f -- i4F - 1 r , A BETW EN: ---, `1(4( c f L.„ ) CANADIAN IMPERIAL BANK OF COMMERCE , , , -c - / Applicant ,..,, - and — URBANCORP (LESLIEVILLE) DEVELOPMENTS INC., URBANCORP (RIVERDALE) DEVELOPMENTS INC., & URBANCORP (THE BEACH) DEVELOPMENTS INC. Respondents APPLICATION UNDER section 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, section 68 of the Construction Lien Act, R.S.O. 1990, c. C.30, and under section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43 ORDER (Re: Excess Parking Unit Process) THIS MOTION, made by Alvarez & Marsal Canada Inc., in its capacity as receiver and manager (in such capacity, the "Receiver"), pursuant to section 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 101 of the Courts of Justice Act, R.S.O. 1990, c.C.43, as amended, and in its capacity as construction lien trustee (in such capacity, the "Construction Lien Trustee"), pursuant to section 68 of the Construction Lien Act, R.S.O. 1990, c. C.30 as amended (the Receiver, together with the Construction Lien Trustee, the "Construction Receiver"), of all of the assets, undertakings, and property acquired for, or used in relation to the business, including all proceeds thereof (the "Property") of Urbancorp (Leslieville) Developments Inc. ("UC Leslieville"), Urbancorp (Riverdale)
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Court File No. CV-16-11409-00CL
ONTARIO SUPERIOR COURT OF JUSTICE
COMMERCIAL LIST
THE HONOURABLE ) TUESDAY, THE 2"
) MR. _JUSTICE NEWBOULD __ ___
. ! ' p r -,:;--, ) DAY OF MAY, 2017
ci, , u „e. -... v(N
E,• f --i4F-1 r,A BETW EN: ---,
`1(4(cf L.„ ) CANADIAN IMPERIAL BANK OF COMMERCE ,
, ,-c- / Applicant
,..,, - and —
URBANCORP (LESLIEVILLE) DEVELOPMENTS INC., URBANCORP (RIVERDALE) DEVELOPMENTS INC., &
URBANCORP (THE BEACH) DEVELOPMENTS INC.
Respondents
APPLICATION UNDER section 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, section 68 of the Construction Lien Act, R.S.O. 1990,
c. C.30, and under section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43
ORDER (Re: Excess Parking Unit Process)
THIS MOTION, made by Alvarez & Marsal Canada Inc., in its capacity as
receiver and manager (in such capacity, the "Receiver"), pursuant to section 243 of the
Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 101 of the Courts
of Justice Act, R.S.O. 1990, c.C.43, as amended, and in its capacity as construction lien trustee
(in such capacity, the "Construction Lien Trustee"), pursuant to section 68 of the Construction
Lien Act, R.S.O. 1990, c. C.30 as amended (the Receiver, together with the Construction Lien
Trustee, the "Construction Receiver"), of all of the assets, undertakings, and property acquired
for, or used in relation to the business, including all proceeds thereof (the "Property") of
Urbancorp (Leslieville) Developments Inc. ("UC Leslieville"), Urbancorp (Riverdale)
2
Developments Inc. ("UC Riverdale") and Urbancorp (The Beach) Developments Inc. ("UC
Beach", together with UC Riverdale, and UC Leslieville, the "Debtors"), for an order approving
the Excess Parking Unit Process (as defined in the second report of the Construction Receiver
dated April 21, 2017 (the "Second Report")), was heard this day at 330 University Avenue,
Toronto, Ontario.
ON READING the Notice of Motion, the Second Report, and the supplementary
report to the Second Report (the "Supplementary Report") and on hearing the submissions of
counsel for the Construction Receiver, Canadian Imperial Bank of Commerce (as administrative
agent and lender), the Ad Hoc Leslieville Purchasers, Terra Firma Capital Corporation, Travelers
Guarantee Corporation of Canada, Tarion Warranty Corporation, and the counsel on the counsel
slip, attached, no one appearing for any other person on the service list, although properly served
as appears from the affidavit of service of Kelly Peters sworn April 28. 2017 filed,
DEFINITIONS
1. THIS COURT ORDERS that capitalized terms not otherwise defined shall have
the meanings given to them in the Second Report.
SERVICE
2. THIS COURT ORDERS that the time for service of the Supplementary Motion
Record is hereby abridged and validated so that this motion is properly returnable today and
hereby dispenses with further service thereof.
APPROVAL OF EXCESS PARKING UNIT PROCESS
3. THIS COURT ORDERS AND DECLARES that the sale process in respect of
the Excess Parking Unit Process as described in the Supplementary Report, be and is hereby
approved, and the Construction Receiver is hereby authorized to take such further steps as it
considers necessary or desirable to carry out the Excess Parking Unit Process.
ENTERED AT , iNSCRIT A TORONTO Rrk_4( 1 , ON / BOOK NO: LE / DANS LE REGISTRE NO:
MAY 0 7 2017
PER / PAR:
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COUNSEL SLIP
/
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StrikeOut
Court File No. CV-16-11409-00CL CANADIAN IMPERIAL BANK OF COMMERCE V. URBANCORP (LESLIEVILLE) DEVELOPMENTS INC. et al.
Applicant Respondents ONTARIO
SUPERIOR COURT OF JUSTICE COMMERCIAL LIST
Proceeding commenced at Toronto
ORDER (Re: Excess Parking Unit Process)
BLAKE, CASSELS & GRAYDON LLP 199 Bay Street Suite 4000, Commerce Court West Toronto, Ontario M5L 1A9
Pamela L.J. Huff - LSUC#: 27344V Tel: 416-863-2958 Fax: 416-863-2653 Email: [email protected]
Kelly Peters — LSUC#: 59914W Tel: 416-863-4271 Fax: 416-863-2653 Email: [email protected]
Independent Counsel for Alvarez & Marsal Canada Inc., in its capacity as both Receiver and Manager, and Construction Lien Trustee of the assets, undertakings and property of Urbancorp (Leslieville) Developments Inc., Urbancorp (Riverdale) Developments Inc., and Urbancorp (The Beach) Developments Inc.
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