IN THE MATTER OF BRIDLEWOOD CO-OPERATIVE HOMES

Review some news media report updates about the former housing co-op, Bridlewood:

sxfreepress.com July 18, 2013 "Letter to the Editor - On Bridlewood Co-op"

CLICK HERE

sxfreepress.com July 11, 2013 By Fred Groves

"Still lots of vacancies at former Bridlewood co-op"

CLICK HERE

sxfreepress.com October 25, 2012 By Fred Groves

"Bridlewood sold - Rent increased to $875"

CLICK HERE 

 

View the Essex Non-Profit Homes Inc. website :: CLICK HERE 

 

I posted a comment on the Essex Non-Profit Homes Inc. website on September 10, 2014 inquiring if Essex Non-Profit Homes would transition back to the co-op housing model and return to the status of non-profit co-op housing. My comment was awaiting moderation and was never published on their website! View my comment HERE !!!

SUPERIOR COURT OF JUSTICE - ONTARIO Commercial List: Court File No.: CV-11-9239-00CL - Heard: October 16, 2012

Between: Co-operative Housing Federation of Canada (Applicant) -and- Bridlewood Co-operative Inc., Superintedent of Financial Services, and United Communities Credit Union Limited (Respondants)

Before the Hon. D. M. Brown

[2] "For the reasons set out below, I grant the Receiver's motion and approve the HPNP sale transaction."

Review all 50 paragraphs of the Court ruling:

CANLII.ORG

http://tinyurl.com/bmefdao     

SUPERIOR COURT OF JUSTICE - ONTARIO Commercial List: Court File No.: CV-11-9239-00CL - Heard: June 21, 2011

Between: Co-operative Housing Federation of Canada (Applicant) -and- Bridlewood Co-operative Inc., Superintendent of Financial Services, and United Communities Credit Union Limited (Respondents)

Before the Hon. Justice Newbould

[21] "In the circumstances, Meyers Norris Penny Limited is appointed as receiver and manager of the assets of Bridlewood, to report to the court as soon as possible as to the approprite steps to be taken to wind up Bridlewood. There are to be no raises in the occupancy costs without further court order."

[22] "The parties are agreed that the costs of this application are to be dealt with after the reciever and manager reports back to the court."

Review all 9-pages or 22 paragraphs of the Court ruling:

CANLII.ORG

http://tinyurl.com/7btkv28

Review all 17-pages or 31 paragraphs of the Court Order Appointing Receiver and Manager:

MNPDEBT.CA

http://tinyurl.com/7s8knpj

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Review the Receiver's Ninth Status Update to Members of Bridlewood Co-operative Inc. (2-pages):

MNPDEBT.CA

http://tinyurl.com/d37jqdw

Review Court documents and other documents in regards to Bridlewood Co-operative Inc.:

MNPDEBT.CA

http://tinyurl.com/74zbenl

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Review some media reports about Bridlewood Co-op:

WINDSORSTAR.COM

July 31, 2012

Posted by Brian Cross

"Essex co-op housing project being sold off by receiver"

http://tinyurl.com/clge5ev

CHF Canada media release:

Some excerpt's from a June 29, 2011 eNEWS notification

CHF Canada eNEWS

June 29, 2011

"CHF Canada wins another round in fight to protect housing co-op assets"

"At CHF Canada's request, the Ontario Superior Court has appointed a receiver-manager for Bridlewood Housing co-op in Essex, Ontario, preventing the co-op's members from purchasing their units at discounted prices."

"Bridlewood is a 131-unit non-profit housing co-operative. It was developed in the mid-1970s with federal government funding. For the past 15 years this co-op has attempted by various means to sell the units for the personal benefit of members at considerably less than market value. Most recently, the co-op stopped paying its mortgage, and CHF Canada believed that this could be part of a plan to force its lender to foreclose and sell the properties in bulk at a discount."

..."Working with the lending credit union and the Financial Services Commission of Ontario (which oversees the Co-op Act), CHF Canada succeeded in safeguarding Bridlewood's assets by removing control from its board and members. A receiver will assess the co-op's situation and report back to the court with recommendations."...

CHFCANADA.COOP

http://tinyurl.com/6j5qc8

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Review additional background information in regards to Bridlewood Co-op Inc. in the following excerpt's from an April 8, 2005 media release and excerpt's from the Court rulings.

CHF Canada media release

April 8, 2005

"Sale of housing co-op halted by court decision"

..."Mr. Justice Siegel's decision that the sale of the co-op's units to the members at less than half the market value is not allowed under the Co-operative Corporations Act."...

"The Co-operative Housing Federation of Canada had launched an application to hault the sale, along with Mr. Skinner, who lived in the co-op"..."The Financial Services Commission of Ontario (FSCO) also brought an application to stop the sale. FSCO's responsibilities include enforcing compliance with the CCA."

..."In 2003, the members decided to investigate the sale of the homes to the members who currently occupy them, at prices considerably less than their fair market value."...

"Mr. Justice Siegel, in an Ontario Superior Court decision on April 5, concluded that "as the Bridlewood proposal contemplates a sale to the members of property of the co-op at less than its fair market value, if implemented, the proposal would constitute a 'distribution' for the purposes of section 171.2(1) of the CCA." The Co-operative Corporations Act prohibits distribution of the assets of a non-profit housing co-operative to the co-op's members."

Click link to access additional information:

CHFCANADA.COOP

http://tinyurl.com/5v4errt

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SUPERIOR COURT OF JUSTICE - ONTARIO - Court File No.: 04-CV-280686 and Court File No.: 04-CV-278076CM2; Date: 2005-06-29

Between: Bridlewood Co-operative Inc. v. Superintendent of Financial Services -and- The Co-operative Housing Federation of Canada - and - Ken Skinner v. Bridlewood Co-operative Inc.

Before the Hon. Justice H.J.W. Siegel

2005 CarswellOnt 2405 (57 paragraphs) Court decision that is not found at CanLii.org at this point-in-time. Please note an excerpt from the 57 paragraph Court decision:

[50] "Similary, the Occupancy Agreement must be interpreted in the light of the provisions of section 171.2(1) of the CCA. If there are two possible interpretations of the Occupancy Agreement, the Court should give effect to the interpretation that does not contravene the CCA. Bridlewood says quite frankly that it is proceeding on the basis that it owns only a "reversionary interest" in the homes because it has given the value of the occupancy rights to its member occupants. This is a clear acknowledgement that under its interpretation of the Occupancy Agreement, Bridlewood believes that it has disposed of property of value to its members. If the Co-op were correct in its interpretation, the grant of occupancy rights would contravene the prohibition in section 171.2(1) of the CCA against the disposition of property of the Co-op to its members. I conclude, however, that the Occupancy Agreement should be interpreted more narrowly to provide for a concept of occupancy rights that excludes such a distribution."

Or access the Court file noted above and review the 57 paragraph Court decision at the following website:

KLIPPENSTEINS.CA

http://tinyurl.com/77l8ddt

SUPERIOR COURT OF JUSTICE - ONTARIO - Court File No.: 04-CV-280686 and 04-CV-278076CM2 - Date: 2005-06-29 - Heard: March 1, 2005

Bridlewood Co-operative Inc v. Superintendent of Financial Services - and re - Co-operative Housing Federation of Canada - and - Ken Skinner v. Bridlewood Co-operative Inc.

Before the Hon. Justice H.J.W Siegel  

"SUPPLEMENTARY ENDORSEMENT"

[1] "The Endorsement dated April 5, 2005 in this proceeding contemplated a cost award after the receipt of cost submissions. Subsequently, counsel for Bridlewood Co-operative Inc. advised the Court that the parties have agreed there shall be no order as to costs and have requested a supplementary endorsement to this effect."

[2] "Accordingly, on the consent of the parties, shere shall be no order as to costs in this proceeding."

Review 1-page or 2 paragraphs of the Court decision: 

CANLII.ORG

http://www.tinyurl.com/3z7x9qz

Information noted above may be revised and/or deleted without prior notification.

Ken Hummel, Administrator, CHIE