{"id":2450,"date":"2012-01-26T20:16:00","date_gmt":"2012-01-26T20:16:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2012\/01\/26\/two-west-island-senior-homes-owe-a\/"},"modified":"2015-06-01T19:42:06","modified_gmt":"2015-06-01T19:42:06","slug":"two-west-island-senior-homes-owe-a","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2012\/01\/26\/two-west-island-senior-homes-owe-a\/","title":{"rendered":"Two West Island senior homes owe at least $26 million"},"content":{"rendered":"<div class=\"column\">Future of eldercare centres uncertain<\/p>\n<p>\nBy Robert Frank <br \/>\nwww.thesuburban.com<\/p>\n<p>\nThe fate of seniors living at two insolvent seniors residences in Dollard des Ormeaux could be decided later this week. <\/p>\n<p>\nOn Nov. 17, the owners of Ch\u00e2teau Dollard filed a notice under the Bankruptcy and Insolvency Act that they will make a proposal as to how they will deal with their creditors. Quebec Superior Court has given them until Jan. 27 to file the proposal. <\/p>\n<p>\nAt the same time, another court decision about R\u00e9sidence Ch\u00e2teau Royal has compounded Ch\u00e2teau Dollard\u2019s uncertainty. <\/p>\n<p>\nJudge Jean-Fran\u00e7ois de Grandpr\u00e9 issued a judgment, Jan. 13, involving two board members who guaranteed a loan to Ch\u00e2teau Royal. <\/p>\n<p>\nQuebec government records show that both seniors residences shared the same, two-member board of directors: Zanzibaran-Canadian chartered accountant Amir Kassam of Toronto; and former Beaconsfield, Quebec, resident Dr. Beheram Kachra. <\/p>\n<p>\nBoth signed a \u201ccommitment letter\u201d July 16, 2008, ten days after Dr. Kachra resigned as&nbsp;cardiologist at the Lakeshore General Hospital.<\/p>\n<p><\/p>\n<div class=\"layoutArea\">\n<div class=\"column\">Justice de Grandpr\u00e9 affirmed in his decision that this makes them personally responsible for a $15 million loan that Kingsett Canadian Real Estate Income made to Ch\u00e2teau Royal\u2014a loan which is currently in default. Shares in the company that owns Chateau Dollard also were put up as security, tying the fate of the two residences more closely. <\/p>\n<p>\nTrouble surfaced there in January 2010, when a Revenue Quebec employee showed up at Ch\u00e2teaux Dollard and Royal, trying to collect unpaid goods and services taxes. Then, in July 2010, Gaz M\u00e9tropolitain further distressed the elderly residents by sending bailiffs to hand out court judgments ordering them to pay 25 per cent of their monthly rent directly to the energy utility so it could recoup $8,086 in unpaid bills. <\/p>\n<p>\nCh\u00e2teau Dollard\u2019s court-appointed receiver, \u00c9ric St. Amour of Price Waterhouse Coopers, told The Suburban in an interview that, for now, \u201cthe residents are ok.\u201d<\/div>\n<div class=\"column\">\n<p>He explained that the residence is technically not bankrupt and is therefore \u201ccarrying on business as usual.\u201d <\/p>\n<p>\nHe added that as receivers for the insolvent firm, \u201cWe don\u2019t have control of operations. We make sure that we manage the cash to ensure that all the care that the residents are entitled to is received.\u201d <\/p>\n<p>\nHe added that the court has given him the power to supervise the sale of the property. <\/p>\n<p>\n\u201cIn the meantime, all the tenants are healthy. The property is taken care of and their health and nutritional needs are looked after.\u201d <\/p>\n<p>\nMr. St. Amour said that DeloitteTouche was appointed as receiver for Ch\u00e2teau Royal, which is incorporated as a separate company from Ch\u00e2teau Dollard.&nbsp;<\/p>\n<p>\n<i>Update: The January 13 Quebec Superior Court judgement was written by Justice&nbsp;<\/i><i>Jean-Fran\u00e7ois de Grandpr\u00e9 and not by Justice Louis J. Gouin, who issued the November 3 receivership order.<\/i><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Future of eldercare centres uncertain By Robert Frank www.thesuburban.com The fate of seniors living at two insolvent seniors residences in Dollard des Ormeaux could be decided later this week. On Nov. 17, the owners of Ch\u00e2teau Dollard filed a notice under the Bankruptcy and Insolvency Act that they will make a proposal as to how<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2450","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Two West Island senior homes owe at least $26 million - Newscoverage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newscoverage.org\/index.php\/2012\/01\/26\/two-west-island-senior-homes-owe-a\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Two West Island senior homes owe at least $26 million - Newscoverage\" \/>\n<meta property=\"og:description\" content=\"Future of eldercare centres uncertain By Robert Frank www.thesuburban.com The fate of seniors living at two insolvent seniors residences in Dollard des Ormeaux could be decided later this week. 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