{"id":245102,"date":"2025-10-28T06:59:14","date_gmt":"2025-10-28T06:59:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/245102\/"},"modified":"2025-10-28T06:59:14","modified_gmt":"2025-10-28T06:59:14","slug":"bh-architects-files-for-ccaa-protection","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/245102\/","title":{"rendered":"B+H Architects Files for CCAA Protection"},"content":{"rendered":"

\"\"Architecture and design firm B+H Architects Corp.<\/a> has filed for protection under the Companies\u2019 Creditors Arrangement Act (CCAA)<\/a>, according to official records published by the Office of the Superintendent of Bankruptcy on the Government of Canada\u2019s website. The agreement affects B+H\u2019s Toronto, Calgary, Dubai and Vietnam offices only.<\/p>\n

The CCAA arrangement was approved by the Ontario Superior Court on October 17, 2025, and allows the firm to, according to monitor KSV Restructuring Inc.\u2019s initial report, \u201ccontinue operating in the ordinary course with the breathing space afforded by filing for protection under the CCAA.\u201d<\/p>\n

Subject to approval by the Court, this positions B+H to conduct a Court-supervised sale and investment solicitation process for its business and assets. Again subject to Court approval, BHA has entered into a stalking horse investment agreement\u2014which sets a preliminary purchase offer and minimum price for the sale\u2014with related entity Surbana Jurong Holdings (Canada) Ltd. (SJHC).<\/p>\n

SJHC is a Singaporean government-owned consultancy company focusing on infrastructure and urban development. SJHC and BHA formed a partnership in 2018. Under the 2018 partnership, SJHC holds 49% ownership, and B+H principals retained 51% ownership of the firm, which was managed as an independent entity from SJHC by B+H\u2019s managing principals.<\/p>\n

The First Report by the court-appointed monitor, KSV Restructuring Inc.<\/a>, outlines that B+H is facing significant financial strain and liquidity issues resulting from a 2017 project in the United Arab Emirates. That project led, in 2021, to allegations raised against BHA regarding a structural issue. In 2024, a contested arbitration award was granted \u00a0holding BHA\u2019s Dubai branch liable in excess of $25 million CAD, plus interest at 9% accruing until payment in full. \u201cBHA has exhausted all rights of appeal in the UAE, and the Arbitration Award has since become enforceable on its terms in the UAE,\u201d writes the monitor. The report notes that financial strain has also been created by the cancellation of many large projects and \u201ccurrent economic headwinds\u201d in the real estate market.<\/p>\n

The report emphasizes that the company will remain operational under the monitor\u2019s oversight and that further updates will be provided in upcoming reports to the court.<\/p>\n

BHA\u2019s firm, which is headquartered in Toronto, has been operating under the B+H brand for over 70 years. Its portfolio includes work on the Ripley\u2019s Aquarium of Canada, Brookfield Place, Mount Sinai Hospital, Toronto Eaton Centre, and MaRS Convergence Centre. BHA has also completed work internationally, including in the United States, China, Singapore, Kingdom of Saudi Arabia, India, Qatar, Vietnam, Brazil and the United Arab Emirates.<\/p>\n

BHA currently employs 28 architects licensed with the OAA and\/or AAA, in addition to working with staff for administration, accounting, human resource and design support under sister company B+H International Corp. B+H\u2019s offices in Vancouver, Hong Kong, Shanghai, Singapore, and Seattle also fall fully under B+H International Corp., which in turn is fully owned by SJHC.<\/p>\n

\u201cAs part of a strategic effort to restructure and position the firm for long-term success, B+H Architects Corp (BHA) has initiated proceedings under the Companies\u2019 Creditors Arrangement Act (CCAA). The CCAA is a court-supervised process to maximize value for BHA\u2019s stakeholders in a transparent manner with the goal of returning the BHA business\u00a0to long-term stability. This is not a bankruptcy. This protection was sought in response to a number of challenges, including a contested arbitration award granted against BHA in the UAE. BHA maintains that its sub-consultant was responsible and is in the process of pursuing its sub-consultant in the UAE pursuant to a confidential arbitration process,\u201d reads a statement from B+H.<\/p>\n

\u201cThe CCAA process allows us to continue operating in the normal course while we work toward a sustainable path forward. We remain committed to serving our clients with the same level of professionalism and integrity they expect. We will provide further updates as appropriate.\u201d<\/p>\n

A hearing is scheduled for Monday, October 27 in which BHA is seeking approval for the court-monitored sale and stalking horse agreement for the company.<\/p>\n","protected":false},"excerpt":{"rendered":"Architecture and design firm B+H Architects Corp. has filed for protection under the Companies\u2019 Creditors Arrangement Act (CCAA),…\n","protected":false},"author":2,"featured_media":245103,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[76,354,355,49,48,356,75],"class_list":{"0":"post-245102","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-arts-and-design","8":"tag-arts","9":"tag-arts-and-design","10":"tag-artsanddesign","11":"tag-ca","12":"tag-canada","13":"tag-design","14":"tag-entertainment"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/245102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=245102"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/245102\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/245103"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=245102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=245102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=245102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}