On July 30, 2025, Port Whitby Village Inc. (“Port Whitby”) and Crossview Developments Inc. (“Crossview”, and collectively with Port Whitby, the “Company”) each filed a Notice of Intention to Make a Proposal (“NOI”) under Section 50.4 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended (the “BIA”), and Bricks Damiani Inc. (“BDI”) was appointed as proposal trustee in the Company's NOI proceedings.

On November 15, 2025, Port Whitby and Crossview were each deemed bankrupt following the failure to file a viable Proposal to its creditors upon conclusion of the stay period provided in the BIA as extended by the Court. BDI has been appointed as Trustee of the bankrupt estate which is subject to affirmation by the creditors at the respective First Meeting of Creditors.

On December 3, 2025, the Honourable Justice J. Dietrich of the Ontario Superior Court of Justice (Commercial List) (the “Court”) issued an order (the “Receivership Order”) appointing BDI as receiver (the "Receiver") without security, of all of the assets, undertakings and properties of Port Whitby acquired for, or used in relation to a business carried on by Port Whitby.