The CBC "Lavish Lifestyle" Article, and the Dates
On February 9, 2024, seventeen days after the companies sought court protection, CBC News published an article about Robert (Robby) Clark and SID Developments under the headline "Private jets, yachts and parties: Ontario landlords flaunted lavish lifestyle as business began to crumble". This page sets the footage the article describes beside the dates on the public record.
Every piece of footage the article describes is dated 2020, 2021 or March 2022 by the article itself. The companies sought court protection on January 23, 2024. Between those dates, in May 2022, the companies closed the sale of 223 homes for $75,850,443.
What the article describes, by its own dates
| Material | Date the article gives |
|---|---|
| Promotional video: a yacht, sports cars, private jets, nightclubs | Posted to Instagram in March 2022 |
| Nightclub video | 2021 |
| Interview with a YouTube host | 2021 |
| Photograph of two of the men | Posted January 3, 2020 |
| Any post or footage from 2023 or 2024 | None cited |
The article calls the March 2022 video promotional. CBC News, Feb 9, 2024
What the record shows for those dates
The article itself reports that by the fall of 2021 Mr. Clark had begun negotiating the sale of about a quarter of the properties to Core. CBC News, Feb 9, 2024
The Monitor's later report dates the travel and luxury rentals it itemized to these three weeks. Its "private jets" item is a payment of $42,174.66 for "a private jet rental". Fourth Report of the Monitor, redacted (Jun 11, 2024), s.5.3.5 para 2
The companies sign the agreement to sell 223 homes. Fourth Report of the Monitor, redacted (Jun 11, 2024), s.4.5 para 1
The promotional video is posted. CBC News, Feb 9, 2024
The sale closes for $75,850,443. After the lenders are repaid, the vendors' counsel's trust ledger shows $11.6 million for the sellers. Fourth Report of the Monitor, redacted (Jun 11, 2024), s.4.5 para 1; Motion Record of the Applicants (Jun 20, 2024), including the affidavit of Robert Clark, Exhibit O, item A.12
The Monitor's report places the depletion of the sale proceeds "on or around November 2022", eight months after the video. Fourth Report of the Monitor, redacted (Jun 11, 2024), s.5.3.2 para 9
The property companies seek protection under the CCAA, about 22 months after the video was posted. Endorsement of Justice Kimmel, Jan 23, 2024
The Monitor's First Report says the companies are "acting in good faith and with due diligence". First Report of the Monitor (Jan 29, 2024), s.7.0
The article is published. At that date the Monitor had filed two reports: its pre-filing report and its First Report. The Fourth Report, which made the allegations later reported, came four months later, on June 11, 2024. CBC News, Feb 9, 2024; Fourth Report of the Monitor, redacted (Jun 11, 2024), s.3.0 para 3
The companies' response to the Monitor is that the travel and entertainment of that period were incurred when they anticipated closing the sale, had significant equity and were current on substantially all interest.
What the article did not report
The article reports that the sale to Core closed in May 2022. It does not give the price, $75,850,443, or what the sale left for the sellers after the lenders were repaid, $11.6 million. CBC News, Feb 9, 2024; Fourth Report of the Monitor, redacted (Jun 11, 2024), s.4.5 para 1; Motion Record of the Applicants (Jun 20, 2024), including the affidavit of Robert Clark, Exhibit O, item A.12
What the same article reported about the broker
The article reported that the vast majority of the loans were arranged by a Hamilton mortgage broker, Claire Drage, through her companies. It quoted an independent mortgage broker who was critical of the number of loans she had arranged, and it reported that Ontario's financial services regulator said it was reviewing concerns. CBC News, Feb 9, 2024
In December 2025 Ms. Drage admitted to fraud in a settlement with the Ontario Securities Commission. The Capital Markets Tribunal found that "Drage committed a large-scale fraud". In March 2026 the Financial Services Regulatory Authority of Ontario imposed $600,000 in penalties. No borrower company was a respondent, and no borrower is named in the settlement.
Who raised the money · What was reported, and what the record shows · The CBC June 2024 article · Questions and answers
- The article reports that Mr. Clark and the directors did not respond to CBC's requests for comment. CBC News, Feb 9, 2024
- The article reports, from the court filings, that by early 2024 the companies had about $100,000 in the bank, owed $144 million and faced dozens of lawsuits. The companies filed for protection with about $144M of funded debt and 207 vacant units. Pre-Filing Report of the Proposed Monitor (Jan 2024), s.2.0
- The article quotes the mayor of Sault Ste. Marie, who said many of the companies' homes in that city were vacant and in disrepair, and reports $645,000 of unpaid property taxes there. SooToday reported on February 26, 2024 that the city had recovered $616,000 of the arrears through the court proceeding. CBC News, Feb 9, 2024; SooToday, Feb 26, 2024
- In the 2021 interview the article quotes, Mr. Clark said that he declared bankruptcy in 2009. CBC News, Feb 9, 2024