Court File and Parties

COURT FILE NO.: CV-21-00661458-00CL

DATE: 2022-08-03

SUPERIOR COURT OF JUSTICE - ONTARIO

RE: ONTARIO SECURITIES COMMISSION Applicant

AND:

BRIDGING INCOME FUND LP, BRIDGING MID-MARKET DEBT FUND LP, SB FUND GP INC., BRIDGING FINANCE GP INC., BRIDGING INCOME RSP FUND, BRIDGING MID-MARKET DEBT RSP FUND, BRIDGING PRIVATE DEBT INSTITUTIONAL LP, BRIDGING REAL ESTATE LENDING FUND LP, BRIDGING SMA 1 LP, BRIDGING INFRASTRUCTURE FUND LP, BRIDGING MJ GP INC., BRIDGING INDIGENOUS IMPACT FUND, BRIDGING FERN ALTERNATIVE CREDIT FUND, BRIDGING SMA 2 LP, BRIDGING SMA 2 GP INC., and BRIDGING PRIVATE DEBT INSTITUTIONAL RSP FUND Respondents

BEFORE: Chief Justice G.B. Morawetz

COUNSEL: John L. Finnigan, Grant B. Moffat and Adam Driedger, for the Receiver

Robert Staley and Mike Shakra, for the Bridging Unitholders

Steve Graff and Miranda Spence, for the SMA 2 Unitholders

Monica Faheim, Representative Counsel for the Misrepresentation Claimants for the Unitholder Priority Motion

Eric Bédard and Émile St-Pierre, Quebec Representative Counsel for the Unitholder Priority Motion

Steven Weisz, for University of Minnesota Foundation

David Bish, for The Coco Group, 2693600 Ontario Inc., Rocky Coco and Jenny Coco

Robb English, for the Redemption Claimants for the Unitholder Priority Motion

Ryan Taylor, for David Sharpe

David T. Ullmann, for Thomas Canning (Maidstone) Limited, William Thomas, Robert Thomas and 2190330 Ontario Ltd.

Lawrence Thacker, for Natasha Sharpe

Martino Calvaruso, for Blackrock Financial Management Inc.

HEARD and DETERMINED: July 19, 2022

REASONS: August 3, 2022

ENDORSEMENT

[1] At the conclusion of the hearing on July 19, 2022, the motion was granted and the Claims and Unitholdings Identification Order was signed with brief reasons to follow. These are the reasons.

[2] The motion was not opposed. The evidentiary basis for the requested relief is set out in the Receivers 12th Report (the “12th Report”).

[3] Counsel to the Receiver also reported that no adverse comment had been received with respect to the activities of the Receiver as described in the 12th Report.

[4] Having reviewed the 12th Report, I am satisfied that the Proposed Claims and Unitholdings Identification Order is both practical and reasonable in its recommendation and will assist the Receiver as it moves forward with the distribution process.

[5] I am also satisfied that it is appropriate to approve the activities of the Receiver as described in the 12th Report.

[6] The motion is granted. The Claims and Unitholdings Identification Order has been signed.

Chief Justice G.B. Morawetz

Date: August 3, 2022