1871 Berkeley Events Inc. et al.

Real Estate

On July 31, 2023, msi Spergel inc. was appointed as receiver (in such capacity, the "Receiver") of 1871 Berkeley Events Inc., 1175484 Ontario Inc., 111 King Street East Inc., 504 Jarvis Inc. and Southline Holdings Inc. (collectively, the "Companies") pursuant to the Order of the Honourable Justice Steele of the Ontario Superior Court of Justice (Commercial List) (the "Court") made on July 7, 2023 (the "Receivership Order"). The Receivership Order was held in abeyance until July 31, 2023 to allow the Companies, amongst other things, to payout their indebtedness to The Toronto-Dominion Bank by July 28, 2023 failing which the Receivership Order became effective on July 31, 2023.

On July 31, 2023, the Receiver met with the principal of the Companies to collect information on all future events booked at all event spaces. A review of the financial situation of the Companies indicated that the Companies have no cash resources to operate, as such the Receiver will not be operating the Companies. Unfortunately, this means that no events will be occurring at either 317 Queen St East or 111 King St East locations on a go forward basis. The Receiver is investigating the financial affairs of the Companies to determine the cause of insolvency and will report its findings to the Court in due course.

Cancelled Events

As indicated above, the Receiver is not operating the business of the Companies and as a result all future events have been cancelled with immediate effect. However, Oliver & Bonacini, Renaissance by the Creek, HotHouse Restaurant, Oakdale Golf and Country Club, Fantasy Farm, One King West Hotel & Residence, Ontario Science Centre and Chateau Le Jardin Event Venue (collectively, the "Event Space Providers") have reached out to the Receiver and have advised that they may be able to assist the parties with finding alternate event space. To that effect, the Event Space Providers have provided the below contact information for anyone looking for an alternate event space:

Oliver & Bonacini - attention: Ericha & Karissa, email: events@oliverbonacini.com and tel: 416-364-1211

Renaissance by the Creek - attention: Godric, email: godric@renaissancebythecreek.com and tel: 647-564-6555

HotHouse Restaurant - attention: Rafael, email: events@hothouserestaurant.com and tel: 416-366-7800

Oakdale Golf and Country Club - attention: Alicia Gabay, email: agabay@oakdalegolf.com and tel: 416-235-6871

Fantasy Farm - attention: Gus Papazoglou, email: gus@fantasyfarm.ca and tel: 416-425-9122

One King West Hotel & Residence - attention: Don MacCorquodale, email: don.maccorquodale@onekingwest.com and tel: 416-573-4750

Ontario Science Centre - attention: Erika & Roxann, email: privateevents@ontariosciencecentre.ca and tel: 416-696-1000

Chateau Le Jardin Event Venue - email: inquiry@chateaulejardin.com and tel: 905-851-2200

Please note that the Receiver is not in any way associated with or related to the Event Space Providers and has no economic interest in providing this information. This information is only being provided to the parties to assist parties in finding alternate space for their upcoming events. The Receiver makes no representations or warranties with respect to any services that may be offered by the Event Space Providers and such services are in no way related to the Receivership.

Customer Deposits

The Receiver has been receiving inquiries with respect to deposits provided by the customers to 1871 Berkeley Events Inc. (the “Event Company”) prior to the receivership. The Receiver understands the concerns of the customers; however, recovery for customers with respect to deposits and any monies provided to the Event Company will be based on the net realization from assets of the Event Company. The Court Order appointing the Receiver provides that the Receiver is to hold all monies generated through the receivership in Post Receivership Accounts. Such monies will be distributed following further Court approval and the Receiver’s evaluation of all claims, subject to claims of secured creditors and priorities at law.

The Receiver is currently reviewing the financial affairs of the Companies and will report its findings with respect to realization of any assets of the Companies to the Court in due course. In the event, the Receiver determines that there are sufficient proceeds available to warrant a distribution to unsecured creditors, the Receiver will contact all customers to file a claim in the relevant estate.

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