Titan Equity Group

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Important information for creditors and stakeholders:
 

Receivership Proceedings 


On November 16, 2015, by Order of the Superior Court of Justice (Commercial List) (the “Court”), Grant Thornton Limited was appointed receiver and manager (in such capacity, the “Receiver”) of the Titan Group (the “Receivership Order”). A copy of the Receivership Order is available below. On January 26, 2016 the Court issued an Order adding 2302604 Ontario Inc. to this proceeding.


The Receiver filed reports in respect of this proceeding on January 4, 2016 and January 19, 2016, both of which may be accessed below.  Further communications and court documents related to the receivership proceedings will be posted on the Receiver’s website below.


Claims Process


On January 26, 2016, the Court issued an order authorizing the Receiver to call for claims against the Titan Group entities (the "Claims Procedure Order").  The Claims Procedure Order also bars any Claims not submitted by April 15, 2016.  Copies of the Claims Package sent to all known creditors of the Titan Group may be accessed below:

A summary of the status of the Claims Process may be found in the Receiver's Tenth Report dated January 3, 2017 (the "Tenth Report"), available here.


Sale of Properties

The following properties have been sold by the Receiver:


  • Oxford on Bathurst
  • Kotton Cachet
  • Villa Del Sole

A summary of the proceeds of sale, distributions to mortgagees and funds available in each estate may be found in Appendix M of the Receiver's Tenth Report, available here.


Distributions to Investors/Creditors


The motion returnable March 23, 2017 in support of, amongst other things, an interim distribution to the stakeholders of Oxford on Bathurst, Kotton Cachet and Tread Finance Corporation (in respect of investments related to Britannia Block) has been adjourned for May 8, 2017.  Details related to the proposed interim distribution are included in the Tenth Report, available here.


Subject to the approval of the proposed interim distribution by the Court, the Receiver will make the interim distribution directly to the affected investors or for investors who hold their investments in Olympia Trust Company or Western Pacific Trust Company, directly to those custodians who will then apply the distribution to the respective investors' accounts based on the Receiver's instructions.


Notices of Application and Notices of Motion

Affidavits and Responding Affidavits
Facta
Books of Authorities
Court Reports
 Court Orders, Reasons for Decisions and Endorsements
E-Service List and Address List
Contact Information for the E-Service List Keeper
 
David Goldband, Grant Thornton Limited, (David.Goldband@ca.gt.com)
 
Other