2213080 Ontario Inc.’s (“221 Ontario”) sole material asset is real property in the Township of Muskoka Lakes, Ontario (“Real Property”). The Real Property is on 11.3 acres, including 579 feet of frontage on Lake Rosseau and a 1,379 square foot house.
On October 6, 2025 (the “Date of Filing”), 221 Ontario filed with the Official Receiver a Notice of Intention to Make a Proposal (“NOI”) to its creditors and named Dodick Landau Inc. as Proposal Trustee (the “Proposal Trustee”).
On November 3, 2025 the Ontario Superior Court of Justice (Bankruptcy) (the “Court”) granted an order, which approved, among other things, the extension to file a proposal up to and including December 20, 2025. On December 17, 2025, the Court granted a further order which extended the time to file a proposal up to and including January 30, 2026.
On January 30, 2026, pursuant to section 50(2) of the Bankruptcy and Insolvency Act (the “Act”), 221 Ontario filed a proposal (the “Proposal”) with the Proposal Trustee, who then filed the Proposal with the Official Receiver pursuant to section 62(1) of the Act. The Proposal has been developed to affect a restructuring of the indebtedness in the expectation that all Creditors will derive a greater benefit from the restructuring than would result from a bankruptcy liquidation of the Real Property.
The Meeting of the Creditors to consider the Proposal will be held via Zoom videoconference, on February 27, 2026, at 11:00 a.m. Details relating to the filing of claims, and other documents, prior to the meeting of the creditors, are outlined in the Trustee report to creditors on the Proposal and was mailed and/or emailed to each known creditor of 221 Ontario, or their duly appointed representative.
Documents
Certificate of Filing Notice of Intention – October 6, 2025
Certificate Of Filing Proposal – January 30, 2026