Chronology of Events

In a letter headed "Dear Investor", SIREG Management says it "cannot provide certainty regarding the timing or amount" of this month's rental payment from The Simple Investor, citing "market and liquidity challenges".

• States that the registered ownership of each investor's condominium unit "remains secure".
• Says the company is "working with advisors to evaluate alternatives".
• Promises a further written update no later than Wednesday, September 23, 2026.

SIREG Management Inc. files a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act (Form 33). AlixPartners Restructuring Inc. consents to act as trustee. The notice is signed for SIREG by Adam Zalev, Chief Restructuring Officer.

• Filing the notice stays proceedings against the company, as the notice itself says.
• SIREG's own letters stress that the company "is not bankrupt" and "continues to operate".
• A list of known creditors with claims of $250 or more is attached to the filing.

The coalition prepares a one-page "Important Notice to Residents" and it is circulated on some doors. It tells tenants, in plain language, that their unit is owned by an individual owner (not SIREG), that only the Landlord and Tenant Board can evict them, to keep records of payments, and where to verify the facts. That day the first tenants and the first unit registrations begin to come in through this site.

• Created by the coalition so tenants are not frightened and have a way to reach their own owner.
• Points tenants to the tenant notice page, news coverage and the CMRAO registry.
• The first tenant sign-up arrives that evening, after the first unit registrations earlier in the day.

AlixPartners Restructuring Inc., the trustee, writes to the creditors of SIREG Management Inc. It confirms the September 25 filing, says the company is not bankrupt, and that "at present, creditors are not required to file a proof of claim". It encloses the filing and a preliminary list of creditors as at September 24.

• Suppliers are told to keep discussing payment terms with their usual SIREG contact.
• The trustee will send a proof of claim form at a later date.
• The enclosed list of creditors is summarized in the October 2 entry below.

A notice headed "HAND DELIVERED" and addressed "To All Tenants" comes from Enova Power Corp., the electric utility. Under the subject line "TERMINATION OF ELECTRIC SERVICE", it says the electricity account for the property is in serious default and, unless payment is received, service will be terminated 14 days from the date the notice was delivered. It was photographed at a Kitchener building.

• Enova says the Ontario Energy Board requires it to give notice to both the customer and the tenants of the customer before a disconnection.
• The notice warns that a disconnection "may affect common area lighting, security and life safety systems", and "may or may not affect the supply of power to your unit".
• If the disconnection could cause Fire Code violations, Enova says it will notify the Kitchener Fire Department, which "will investigate and take appropriate actions", and that those actions "may include evacuation of the premises until power is restored".
• Questions about the termination, it says, "should be directed to the person to whom you pay your rent". Enova's customer-care contact details are printed at the bottom.

By October 2 the coalition holds the full trustee package, which includes the preliminary list of SIREG Management's creditors prepared by the company as at September 24. The unsecured creditors on the list are owed a combined $5,066,005.25.

• The list says it is submitted by the company "without admission as to any liability or privilege herein shown".
• It runs to four pages of suppliers, contractors, utilities, municipal accounts and some private individuals, across Ontario.
• Names, addresses and individual amounts are not reproduced here, because some creditors are private individuals. The exhibit shows the title and the total only.
• The trustee has said creditors are not required to file a proof of claim at this time and will be sent a form later.

That evening, an owner posts two photos in the "SIREG Simple Investors" Facebook group, taken of notices taped up at the building. The first, marked "HAND DELIVERED", is headed "TERMINATION OF ELECTRIC SERVICE" and comes from Enova Power Corp. It says the electricity account for the property "is in serious default" and that, unless payment is made, service will be terminated 14 days from the date of the notice.

• The notice warns that a disconnection "may affect common area lighting, security and life safety systems", and says the utility will notify the Kitchener Fire Department.
• The second sheet, headed "WARNING – CAUTION!", tells residents how to cope without power: alternative lighting, cooking and heating; smoke and carbon monoxide alarms that may stop working; portable heaters and generators.
• In the post, the owner writes that they have never missed a utility payment, that tenants pay their rent, and that they received a bill of about $3,200 that they were told is their share of SIREG's debt. They say they intend to stop paying their maintenance fee, and ask for advice and for news outlets to take notice.
• The post is shown with the writer's name removed.

The Condominium Authority of Ontario (CAO) posts a page titled "Information for condo owners affected by SIREG Management disruptions". It says the payment disruptions "may be causing stress and uncertainty for condo owners, tenants and the condo communities they are part of", strongly encourages affected people to take an active interest in their corporation's governance, and urges them to "seek independent legal advice as soon as possible before taking next steps". It notes the answers are general information only and that each condo corporation may be different.

• Finding your corporation: the CAO's free Condo Registry shows what each corporation has reported, including its address for service, its directors and when their terms began, its managers and management provider, and its last annual general meeting.
• Reaching other owners: a corporation must keep a record of owners and mortgagees, which an owner can request on the mandatory form. Property searches through OnLand are the alternative.
• Removing directors: owners can remove one or more directors through an owner-requisitioned meeting. If the entire board resigns, an owner must call an emergency meeting to fill the vacancies, using the mandatory form.
• A new board is told to get legal and financial advice, change the signing officers on the corporation's bank accounts, file a notice of change with the CAO naming the new directors and any new manager, begin the mandatory director training, and review the records it receives from the previous board and manager.
• It points owners to the CMRAO (which regulates condominium managers and can investigate complaints) and tenants and landlords to the Landlord and Tenant Board. The CAO's information line is 416-901-9356 locally or 844-880-5341 toll-free.