SIREG is now bankrupt. Justice Steele signed the order at 5:02 p.m. on Tuesday, October 20, 2026, putting 16 SIREG companies into bankruptcy with immediate effect. Nobody opposed it. The same day, SIREG Management ran out of money to operate.
Documents: the Bankruptcy Order and the judge's written reasons (PDFs).
Five things owners need to know
- The SIREG companies are bankrupt. Unpaid guaranteed rent and similar debts become claims in a bankruptcy.
- SIREG Management is closed. Its licence was revoked October 19, and it has no money for staff after October 20.
- Keys and records are in Burlington. Getting them out depends on a dispute over the head office, back in court on Monday, October 26 at 10:00 a.m.
- The administrator has nothing from SIREG yet: no records and no owner emails.
- Some reserve fund money may be missing. One building's audit shows $128,385 owed to its reserve fund by SIREG Management.
1. The bankruptcy
The trustee, AlixPartners, asked the court to close the window in which the companies could offer their creditors a deal. Under the Bankruptcy and Insolvency Act, closing it makes each company bankrupt. The 16 companies include SIREG Management Inc., SIREG Holdings Inc., The Simple Investor Real Estate Group Inc., 1000001856 Ontario Inc., 1000366987 Ontario Corporation, and the SIREG companies that own the Balmoral, Cartier, Kensington and Parkhill buildings.
Not included: SIREG 1075 Sutton Drive Inc., which owns the Burlington head office, and SIREG 3438 Sinnicks Inc. The head office lender did not object, but said the building's owner company should have been added.
The judge's reasons: the companies have no money to keep operating or pay staff, cannot afford a restructuring or sale, and have little left once the lenders take their properties. In her words, bankruptcy "represents the best path forward for these companies and will facilitate an orderly wind-down."
For efficiency, the 16 estates share one court file, one notice, joint creditor meetings and one bank account. They are not merged: votes are counted company by company, each keeps its own assets and creditors, and none answers for another's debts.
If a SIREG company owes you money
- You are an unsecured creditor, meaning no property backs your debt.
- Claims go to the trustee on a proof of claim, federal Form 31. Name the exact company that owes you.
- No claims package or deadline had been posted as of October 20. Watch the trustee's case website for its notice to creditors.
- Expect to recover only part, if anything. The trustee describes the group's assets as very limited.
2. SIREG Management has shut down
The trustee's report confirms the CMRAO suspended SIREG Management's licence on September 29 and revoked it on October 19. SIREG Management, SIREG Holdings and The Simple Investor Real Estate Group have no funding past October 20. All that remains is limited wind-down work: returning keys and preserving and transferring records.
- There is no one left at SIREG to call about your unit or building.
- Stop paying condo fees to SIREG Management. The administrator is opening new accounts. Wait for his office's payment details and confirm them with his office directly before sending money.
- If SIREG managed your rental, it has already told owners to self-manage or hire a manager.
3. The fight over the Burlington office
SIREG Management worked out of 1075 Sutton Drive in Burlington. The trustee needs one to two weeks there to remove books, records and a server, and to hand out condo keys.
The lender on that building, 1000018790 Ontario Ltd., which says it now holds both mortgages, wants the court's permission to enforce and take the building empty. The trustee asked for more time. It says an appraisal puts the building's value above the mortgage debt, so there is no rush, and that many owners will be coming in for keys. The lender agreed to allow access for records; the open question is whether the SIREG side must pay rent and building costs in the meantime.
The hearing was set for Monday, October 26 at 10:00 a.m. for 90 minutes, with responding materials due October 22 and replies October 23. The lender kept its right to claim realty taxes, utilities and insurance for the occupation. The judge urged the parties to settle first.
- This hearing affects when every building gets its keys and records back.
- Keys are expected to be released from the Burlington office. Watch for the trustee's instructions.
- List what you are missing: keys, fobs, leases, tenant deposits, building records. You will need proof of ownership to collect keys.
4. The administrator's first report
Brian Antman, the administrator for the buildings under the October 15 order, filed an update but asked for no order. He reported:
- Managers: interviews are done, and requests for proposals are about to go out.
- Banking: he is opening a separate account for each corporation. He believes their money may have been pooled in accounts in SIREG Management's name, which he has not yet been able to confirm.
- Records: SIREG Management has not given him any, despite his requests. Without owner emails, he could not yet send owners the October 15 order.
- Trust money: he suspects SIREG Management or a related company may be holding money that should be in trust for corporations under section 115 of the Condominium Act. Example: Middlesex Standard Condominium Corporation No. 353's audited statements for the year to July 31, 2025 show $128,385 owed by SIREG Management to the reserve fund and missing from it. He did not give figures for other buildings.
- Insurance: he has that building's insurance binder for the policy expiring October 22, 2026, so it can be renewed in time.
Money that should have been held in trust can rank differently from ordinary debts in a bankruptcy. Check your own corporation's audited statements for a similar amount owed.
5. October 22 for the remaining buildings
Corporations not covered by the October 15 order will be heard on Thursday, October 22. That hearing decides whether the administrator takes over there too. Owners in the 24 covered buildings may also file materials before then to ask for changes to the order.
Also: a separate receivership
A receivership over other SIREG-related properties went ahead without objection, with final wording still being settled. Rents on those properties, including any paid to SIREG Management, are to go to the receiver.
Your checklist
- Do not pay condo fees to SIREG. Wait for the administrator's account details.
- Watch the trustee's case website for the creditor notice and proof of claim forms.
- Collect your purchase and property management agreements, records of unpaid rent, leases, key and fob details, and any insurance or financial papers for your corporation.
- Note the dates: October 22, and October 26 at 10:00 a.m.
The court documents
- First Report of the Proposal Trustee, October 19, 2026
- Motion Record of the Proposal Trustee, October 19, 2026
- Factum of the Proposal Trustee, October 19, 2026
- Motion Record of 1000018790 Ontario Ltd., October 19, 2026
- Aide-memoire of 1000018790 Ontario Ltd., October 19, 2026
- Aide-memoire of the Administrator, October 20, 2026
- Bankruptcy Order of Justice Steele, signed October 20, 2026
- Endorsement of Justice Steele, October 20, 2026
- Order of Justice Steele appointing the administrator (signed October 16, 2026)
- All filings: the trustee's case website
