Château Royal declared bankrupt

Receiver continues to manage seniors residence while searching for new owner

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By Robert Frank
www.thesuburban.com

Creditors received notices last week that the Château Royal seniors residence in Dollard des Ormeaux is now officially bankrupt, after a May 9 deadline for its owners to file a proposal with Quebec Superior Court came and went.

Court-appointed receiver Benoît Clouâtre of Samson Bélair/Deloitte Touche assured The Suburban that the facility’s elderly residents will remain well-cared for while he continues to seek a buyer for the property.

On Feb. 29, the court ordered Mr. Clouâtre to proceed with a sale offer put forward by LRM Management Ltd., of Montreal, on behalf of a company yet to be incorporated.

However, in a telephone interview, May 21, Mr. Clouâtre told The Suburban that more tests are required on the building in order to complete the sale.

“For people who reside there, there is no concern,” he reiterated. “I am still the receiver and, by law, I need to take care of this business until we are able to sell it. It is just a matter of time.”

“We thought that it would sell more quickly, but unfortunately testing is quite a lengthy process. If it doesn’t work out with this buyer, we will start a new process with another one.”

“However, it doesn’t change anything for people staying there. I am still managing the site, just as I was managing it before.”

Another insolvent Dollard des Ormeaux eldercare centre—Château Dollard—has been operated by Cogir, under the direction of PriceWaterhouse receiver Éric St. Amour, since it was declared bankrupt, Jan. 27.

Both residences were owned by the same, numbered holding company and operated by the same Toronto-based property management company: Liberty Assisted Living.

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