Parents who pre-paid tuition for their kids to attend the Canadian Montessori Academy before it went bankrupt met today with a court-appointed receiver to see whether they have any chance of getting their money back.
Most of the parents already paid an average of $15,000 each to send their kids to the family-run private school, and are now battling with the operators to recoup the tuition.
About 50 parents showed up on Friday morning for the meeting with the receiver, BDO Canada, but it's unclear how much money, if any, they'll get back.
"At this point, I don't expect to see anything," one parent, David Salamanca, said outside the school.
A judge ordered the school put into receivership on Monday, saying he had no confidence the owners of the school — Sherie, Lester and Sabena De Mel — will be able to find their way out of their financial woes.
Jackie Properzi said the De Mels were already trying to sell the property when the principal, a member of the family that operates the school, nevertheless collected the tuition money from her. Properzi said the principal must have known there was little chance Canadian Montessori Academy would be operating next year.
Teachers told CBC News they have not been paid since May. The De Mels have not been returning calls from creditors and media.
In the mean time, BDO Canada managers said the priority is to sell, and the property and land could be on the market as soon as next week. At least four developers have already shown interest in buying it, according to BDO Canada.