On September 11, 2019 the Court issued an order (“Humberstone Settlement Approval Order”), which, among other things:

Approved a settlement offer made by the Humberstone borrower in respect of the Humberstone loan advanced by BDMC;

A copy of the Humberstone Settlement Approval Order is available below.

On September 4, 2019, the Trustee served materials in connection with its motion returnable September 11, 2019, which provides, among other things:

A recommendation that the Court grant an order approving a settlement offer made by the Humberstone borrower in respect of the Humberstone loan advanced by BDMC.

Copies of the materials filed on September 4, 2019, including the Trustee’s Tenth Report, are available below.

On July 30, 2019, the Trustee served materials in connection with its motion to approve the proposed distribution to the syndicated mortgage lenders to the Charlotte-Adelaide (“CHAT”) project in accordance with:

the terms of the inter-lender agreement entered into in respect of the loan agreements that govern the CHAT Loan and the LH1 Loan (as defined in the Trustee’s Ninth Report below); or

as the Court may otherwise direct.

A hearing on this matter has been scheduled for October 16, 2019.

Copies of the materials filed on July 30, 2019, including the Trustee’s Ninth Report, are available below.

On May 23, 2019 the Court issued an order (“Crestview Settlement Approval Order”), which, among other things:

Approved a settlement offer made by the Crestview borrower in respect of the Crestview loan advanced by BDMC;

A copy of the Crestview Settlement Approval Order is available below.

On May 23, 2019, the Court granted an order (“Omnibus Order”):

approving the Trustee transaction process, as described in detail in the Seventh Report;

directing the Trustee to distribute $372,650 to the Original Victoria Medical Investors and $301,086 to the Hybrid Victoria Medical Investors to equalize payments previously made to Victoria Medical Investors;

approving the execution of a Bayview Direction, related to a project administered by Derek Sorrenti (“Sorrenti”);

compelling the production of documents, records and information related to certain projects transferred by Sorrenti to BDMC and to otherwise comply with the Appointment Order;

compelling production of information by the borrower on the Treehouse Project and the borrower on the Lake and East Project, respectively, sufficient to satisfy their respective reporting obligations to the Trustee and to otherwise comply with the terms of the Appointment Order; and

approving the Trustee’s Fourth Report, Fifth Report, Sixth Report and Seventh Report, as well as the Trustee’s activities, fees and disbursements, including the fees and disbursements of its counsel, for the period from October 1, 2018 to March 31, 2019.

The Court also granted a further order (“Land Registry Direction Order”) allowing the Trustee to remove orders previously registered on title of certain properties, subject to the Trustee filing the appropriate Trustee’s certificates.

A copy of the Omnibus Order and the Land Registry Direction Order as well as the related endorsement is provided below.

On May 17, 2019, the Trustee served materials in connection with its motion returnable May 23, 2019, which provides, among other things:

A recommendation that the Court grant an order approving a settlement offer made by the Crestview borrower in respect of the Crestview loan advanced by BDMC.

Copies of the materials filed on May 17, 2019, including the Trustee’s Eighth Report, are available below.

On May 10, 2019, the Trustee served materials in connection with its motion returnable May 23, 2019, which provides, among other things, a comprehensive update on developments in these proceedings since the Second Report. In addition to providing updates on projects subject to significant developments, including enforcement proceedings, postponements and other significant events, the Seventh Report was filed in support of the Trustee’s request for a Court order, among other things:

approving the Trustee transaction process, as described in detail in the Seventh Report, which seeks to standardize the process for the negotiation of all refinancing, sale, payout and other restructuring proposals involving any consideration being provided to Fortress Real Developments Inc. (“Fortress”), its principals or any related party to Fortress;

directing the Trustee to distribute $372,650 to the Original Victoria Medical Investors and $301,086 to the Hybrid Victoria Medical Investors to equalize payments previously made to Victoria Medical Investors;

approving the execution of a Bayview Direction, related to a project administered by Derek Sorrenti (“Sorrenti”); the borrower requires a direction to pay be executed by BDMC before it will distribute funds to Sorrenti, because BDMC remains the named lender that is a party to the loan agreement (although Sorrenti has been and continues to be the administrator);

compelling the production of documents, records and information related to certain projects transferred by Sorrenti to BDMC and to otherwise comply with the Appointment Order;

compelling production of information by the borrower on the Treehouse Project and the borrower on the Lake and East Project, respectively, sufficient to satisfy their respective reporting obligations to the Trustee and to otherwise comply with the terms of the Appointment Order; and

approving the Trustee’s Fourth Report, Fifth Report, Sixth Report and Seventh Report, as well as the Trustee’s activities, fees and disbursements, including the fees and disbursements of its counsel, for the period from October 1, 2018 to March 31, 2019.

Copies of the materials filed on May 10, 2019, including the Trustee’s Seventh Report, are available below.

On April 26, 2019 the Court issued an order (“James Settlement Approval Order”), which, among other things:

Approved a settlement offer made by the James borrower in respect of the James loan advanced by BDMC;

A copy of the James Settlement Approval Order is available below.

On April 18, 2019, the Trustee served materials in connection with its motion returnable April 26, 2019, which provides, among other things:

A recommendation that the Court grant an order approving a settlement offer made by the James borrower in respect of the James loan advanced by BDMC.

Copies of the materials filed on April 18, 2019, including the Trustee’s Sixth Report, are available below.

On January 29, 2019, the Court issued an order (“Speers Settlement Approval Order”), which among other things:

Approved a settlement offer made by the Speers borrower in respect of the Speers loan advanced by BDMC.

A copy of the Speers Settlement Approval Order is available below.

On January 23, 2019, the Trustee served materials in connection with its motion returnable January 29, 2019, which provides, among other things:

A recommendation that the Court grant an order approving a settlement offer made by the Speers borrower in respect of the Speers loan advanced by BDMC.

Copies of the materials filed on January 23, 2019, including the Trustee’s Fifth Report, are available below.

On December 20, 2018 the Court issued an order (“Harlowe Settlement Approval Order”), which among other things:

Approved a settlement offer made by the Harlowe borrower in respect of the Harlowe loan advanced by BDMC; and

Directs the Trustee to make a further distribution of Realized Property to all syndicated mortgage loans entitled to such Realized Property following the closing of the Harlowe settlement, and to distribute 85% of Realized Property going forward.

A copy of the Harlowe Settlement Approval Order is available below.

On December 13, 2018, the Trustee served materials in connection with its motion returnable December 20, 2018, which provides, among other things:

A recommendation that the Court grant an order approving a settlement offer made by the Harlowe borrower in respect of the Harlowe loan advanced by BDMC; and

A recommendation for certain amendments to the Realized Property Order requiring the Trustee to make a further distribution of Realized Property to all syndicated mortgage loans entitled to such Realized Property following the closing of the Harlowe settlement; and

Copies of the materials filed on December 13, 2018, including the Trustee’s Fourth Report, are available below.

On October 30, 2018 the Court issued an order (“Realized Property Order”), which, among other things:

Directs the Trustee to distribute certain of the funds;

Authorizes the Trustee to use the remaining amounts to fund the cost of required Trustee activities associated with the administration of the estate; and

Requires that the Trustee report to Court no later than April 30, 2019 regarding the required Trustee activities undertaken following the date of the Realized Property Order.

A copy of the Realized Property Order is available below.

On November 19, 2018, the Trustee served materials in connection with its motion returnable November 28, 2018, which provides , among other things:

A recommendation that the Court grant an order approving a settlement offer made by the Braestone borrower in respect of the Braestone loan advanced by BDMC;

A recommendation for certain amendments to the Realized Property Order requiring the Trustee to make a further distribution of Realized Property to all syndicated mortgage loans entitled to such Realized Property following the closing of the Braestone settlement;

and Information regarding the Trustee’s and its legal counsel’s fees and disbursements from the date of the Appointment Order through to September 30, 2018 (“Period”). The Trustee is also seeking the Court’s approval of the First Report, Second Report, the Third Report, the activities described in each of the Reports, and the professional fees of the Trustee and its legal counsel for the Period.Copies of the materials filed on November 19, 2018, including the Trustee’s Third Report, are available below.

On October 30, 2018 the Court issued an order (“Realized Property Order”), which, among other things:

Directs the Trustee to distribute certain of the funds;

Authorizes the Trustee to use the remaining amounts to fund the cost of required Trustee activities associated with the administration of the estate; and

Requires that the Trustee report to Court no later than April 30, 2019 regarding the required Trustee activities undertaken following the date of the Realized Property Order.

A copy of the Realized Property Order is available below.

On October 23, 2018, the Trustee served materials in connection with its motion returnable October 30, 2018, which provides, among other things, an update on developments in these proceedings since the First Report, including:

The in-depth project analyses being undertaken by the Trustee;

Projects subject to significant developments, including enforcement proceedings and negotiations for early payouts; and

The Trustee’s recommendation regarding certain of the funds maintained by the Trustee currently or received in the future, including (i) directing the Trustee to distribute certain of the funds and (ii) authorizing the Trustee to use the remaining amounts to fund the costs of required Trustee activities associated with the administration of the estate, subject to a fair and equitable allocation of such costs at a future date.

Copies of the materials filed on October 23, 2018, including the Trustee’s Second Report, are available below.