Symphony Condominium Ltd.

Symphony Condominium Ltd. (“Symphony”) operated as a real estate developer and was incorporated in the Province of Alberta for the purpose of constructing and selling the condominium complex known as the Symphony Tower. 

On April 7, 2022, the Court of King’s Bench of Alberta, granted an Order (the “Receivership Order”) appointing MNP Ltd. as Receiver and Manager (the “Receiver”) over all of the assets, undertakings and property (the “Property”) of Symphony. The Receivership Order was granted following an application by Timbercreek Mortgage Servicing Inc. and 2292912 Ontario Inc. (“Timbercreek”)  Publicly available information regarding the receivership can be found on the Receiver’s website at: https://mnpdebt.ca/en/corporate/corporate-engagements/symphony-condominium-ltd.

As approved pursuant to an Order granted on March 4, 2024, the Receiver filed an assignment in bankruptcy for Symphony on April 25, 2024 (the “Filing Date”) and MNP Ltd. was appointed as Trustee of the bankrupt estate.  Symphony’s Property continues to be realized by the Receiver.  Based on estimated realizations from the Property, it is anticipated that there will be shortfall in satisfying Timbercreek’s secured claim; therefore, no funds will be available for distribution to Symphony’s remaining unsecured creditors.

Publicly available documents related to these proceedings will be  posted below.